Author Topic: Strategies for returning to school  (Read 945 times)

hashbrowns

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Strategies for returning to school
« on: March 25, 2017, 01:47:11 PM »
Hi everyone!

So at 31 I just returned to school to pursue a degree in Mechanical Engineering. I do want to be an engineer, I have since I was little, the pay increase will be a nice bonus. I've always been fairly frugal, but haven't started really considering cutting out wasteful spending until recently.

I'm currently attending a community college, and am taking lower level pre-engineering courses part time, while working full time, and trying to save some cash for when I move to a university. I have ~$45k split between a Roth IRA, 401k, taxable account, and cash right now, and am attempting to hit $100k by the time I quit working and attacking university life full time (in about 2 years). Between now and then I think my fiance will go through a program in the medical field where she will be able to support us while I'm a full time student.

I'm hoping that this works out, and I will be able to kill off most of my student costs with dividends, and odd job work (I'm a mechanic). Are there any strategies that you folks might recommend for someone in my situation?

Of course I'm attempting to consolidate our lives as much as possible, and look forward to moving to a small college town where I can bike everywhere. I understand frugality concepts, but I'm not as savvy with financial technicalities as most of you board members are, and that's where I need the help.