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Cost of grad school in terms of earnings at retirementAssume 8% return on investments (Warren Buffett) after taxes and inflationHow much more money do you have to make per year with given degrees (based on years spent earning the degree instead of being paid) than if you'd stayed in a job with a given margin for investment?For each category, I'll quote a surplus figure: the amount by which income exceeds expenses. This seems relevant because people often live higher-expense lives as their income goes up.Not all grad degree holders get jobs that pay well. Adjunct faculty, part-time work, etc., often don't have much for investment after paying for loans, rent, insurance, taxes, weddings, children, health care, etc.
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NotesAgeJob with $1000/year surplusJob with $5000/year surplus1 year grad+$1000/year surplus1 year grad+$5000/year surplus2 year grad+$1000/year surplus2 year grad+$5000/year surplus3 year grad+$1000/year surplus3 year grad+$5000/year surplus4 year grad+$1000/year surplus4 year grad+$5000/year surplus6 year grad+$1000/year surplus6 year grad+$5000/year surplus8 year grad+$1000/year surplus8 year grad+$5000/year surplus10 year grad+$1000/year surplus10 year grad+$5000/year surplus
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21$1,000$5,000
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22$2,080$10,400$1,000$5,000
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23$3,246$16,232$2,080$10,400$1,000$5,000
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24$4,506$22,531$3,246$16,232$2,080$10,400$1,000$5,000
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25$5,867$29,333$4,506$22,531$3,246$16,232$2,080$10,400$1,000$5,000
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26$7,336$36,680$5,867$29,333$4,506$22,531$3,246$16,232$2,080$10,400
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27$8,923$44,614$7,336$36,680$5,867$29,333$4,506$22,531$3,246$16,232$1,000$5,000
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28$10,637$53,183$8,923$44,614$7,336$36,680$5,867$29,333$4,506$22,531$2,080$10,400
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29$12,488$62,438$10,637$53,183$8,923$44,614$7,336$36,680$5,867$29,333$3,246$16,232$1,000$5,000
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30$14,487$72,433$12,488$62,438$10,637$53,183$8,923$44,614$7,336$36,680$4,506$22,531$2,080$10,400
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31$16,645$83,227$14,487$72,433$12,488$62,438$10,637$53,183$8,923$44,614$5,867$29,333$3,246$16,232$1,000$5,000
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32$18,977$94,886$16,645$83,227$14,487$72,433$12,488$62,438$10,637$53,183$7,336$36,680$4,506$22,531$2,080$10,400
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33$21,495$107,476$18,977$94,886$16,645$83,227$14,487$72,433$12,488$62,438$8,923$44,614$5,867$29,333$3,246$16,232
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34$24,215$121,075$21,495$107,476$18,977$94,886$16,645$83,227$14,487$72,433$10,637$53,183$7,336$36,680$4,506$22,531
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35$27,152$135,761$24,215$121,075$21,495$107,476$18,977$94,886$16,645$83,227$12,488$62,438$8,923$44,614$5,867$29,333
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36$30,324$151,621$27,152$135,761$24,215$121,075$21,495$107,476$18,977$94,886$14,487$72,433$10,637$53,183$7,336$36,680
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37$33,750$168,751$30,324$151,621$27,152$135,761$24,215$121,075$21,495$107,476$16,645$83,227$12,488$62,438$8,923$44,614
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38$37,450$187,251$33,750$168,751$30,324$151,621$27,152$135,761$24,215$121,075$18,977$94,886$14,487$72,433$10,637$53,183
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39$41,446$207,231$37,450$187,251$33,750$168,751$30,324$151,621$27,152$135,761$21,495$107,476$16,645$83,227$12,488$62,438
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40$45,762$228,810$41,446$207,231$37,450$187,251$33,750$168,751$30,324$151,621$24,215$121,075$18,977$94,886$14,487$72,433
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41$50,423$252,115$45,762$228,810$41,446$207,231$37,450$187,251$33,750$168,751$27,152$135,761$21,495$107,476$16,645$83,227
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42$55,457$277,284$50,423$252,115$45,762$228,810$41,446$207,231$37,450$187,251$30,324$151,621$24,215$121,075$18,977$94,886
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43$60,893$304,466$55,457$277,284$50,423$252,115$45,762$228,810$41,446$207,231$33,750$168,751$27,152$135,761$21,495$107,476
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44$66,765$333,824$60,893$304,466$55,457$277,284$50,423$252,115$45,762$228,810$37,450$187,251$30,324$151,621$24,215$121,075
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45$73,106$365,530$66,765$333,824$60,893$304,466$55,457$277,284$50,423$252,115$41,446$207,231$33,750$168,751$27,152$135,761
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46$79,954$399,772$73,106$365,530$66,765$333,824$60,893$304,466$55,457$277,284$45,762$228,810$37,450$187,251$30,324$151,621
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47$87,351$436,754$79,954$399,772$73,106$365,530$66,765$333,824$60,893$304,466$50,423$252,115$41,446$207,231$33,750$168,751
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48$95,339$476,694$87,351$436,754$79,954$399,772$73,106$365,530$66,765$333,824$55,457$277,284$45,762$228,810$37,450$187,251
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49$103,966$519,830$95,339$476,694$87,351$436,754$79,954$399,772$73,106$365,530$60,893$304,466$50,423$252,115$41,446$207,231
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50$113,283$566,416$103,966$519,830$95,339$476,694$87,351$436,754$79,954$399,772$66,765$333,824$55,457$277,284$45,762$228,810
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51$123,346$616,729$113,283$566,416$103,966$519,830$95,339$476,694$87,351$436,754$73,106$365,530$60,893$304,466$50,423$252,115
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52$134,214$671,068$123,346$616,729$113,283$566,416$103,966$519,830$95,339$476,694$79,954$399,772$66,765$333,824$55,457$277,284
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53$145,951$729,753$134,214$671,068$123,346$616,729$113,283$566,416$103,966$519,830$87,351$436,754$73,106$365,530$60,893$304,466
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54$158,627$793,133$145,951$729,753$134,214$671,068$123,346$616,729$113,283$566,416$95,339$476,694$79,954$399,772$66,765$333,824
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55$172,317$861,584$158,627$793,133$145,951$729,753$134,214$671,068$123,346$616,729$103,966$519,830$87,351$436,754$73,106$365,530
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56$187,102$935,511$172,317$861,584$158,627$793,133$145,951$729,753$134,214$671,068$113,283$566,416$95,339$476,694$79,954$399,772
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57$203,070$1,015,352$187,102$935,511$172,317$861,584$158,627$793,133$145,951$729,753$123,346$616,729$103,966$519,830$87,351$436,754
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58$220,316$1,101,580$203,070$1,015,352$187,102$935,511$172,317$861,584$158,627$793,133$134,214$671,068$113,283$566,416$95,339$476,694
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59$238,941$1,194,706$220,316$1,101,580$203,070$1,015,352$187,102$935,511$172,317$861,584$145,951$729,753$123,346$616,729$103,966$519,830
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60$259,057$1,295,283$238,941$1,194,706$220,316$1,101,580$203,070$1,015,352$187,102$935,511$158,627$793,133$134,214$671,068$113,283$566,416
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61$280,781$1,403,905$259,057$1,295,283$238,941$1,194,706$220,316$1,101,580$203,070$1,015,352$172,317$861,584$145,951$729,753$123,346$616,729
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Retire @ 6262$304,244$1,521,218$280,781$1,403,905$259,057$1,295,283$238,941$1,194,706$220,316$1,101,580$187,102$935,511$158,627$793,133$134,214$671,068
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63$329,583$1,647,915$304,244$1,521,218$280,781$1,403,905$259,057$1,295,283$238,941$1,194,706$203,070$1,015,352$172,317$861,584$145,951$729,753
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64$356,950$1,784,748$329,583$1,647,915$304,244$1,521,218$280,781$1,403,905$259,057$1,295,283$220,316$1,101,580$187,102$935,511$158,627$793,133
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Retire @ 6565$386,506$1,932,528$356,950$1,784,748$329,583$1,647,915$304,244$1,521,218$280,781$1,403,905$238,941$1,194,706$203,070$1,015,352$172,317$861,584
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66$418,426$2,092,130$386,506$1,932,528$356,950$1,784,748$329,583$1,647,915$304,244$1,521,218$259,057$1,295,283$220,316$1,101,580$187,102$935,511
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Retire @ 6767$452,900$2,264,501$418,426$2,092,130$386,506$1,932,528$356,950$1,784,748$329,583$1,647,915$280,781$1,403,905$238,941$1,194,706$203,070$1,015,352
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68$490,132$2,450,661$452,900$2,264,501$418,426$2,092,130$386,506$1,932,528$356,950$1,784,748$304,244$1,521,218$259,057$1,295,283$220,316$1,101,580
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69$530,343$2,651,714$490,132$2,450,661$452,900$2,264,501$418,426$2,092,130$386,506$1,932,528$329,583$1,647,915$280,781$1,403,905$238,941$1,194,706
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Retire @ 7070$573,770$2,868,851$530,343$2,651,714$490,132$2,450,661$452,900$2,264,501$418,426$2,092,130$356,950$1,784,748$304,244$1,521,218$259,057$1,295,283
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71$620,672$3,103,359$573,770$2,868,851$530,343$2,651,714$490,132$2,450,661$452,900$2,264,501$386,506$1,932,528$329,583$1,647,915$280,781$1,403,905
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Retire @ 7272$671,326$3,356,628$620,672$3,103,359$573,770$2,868,851$530,343$2,651,714$490,132$2,450,661$418,426$2,092,130$356,950$1,784,748$304,244$1,521,218
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73$726,032$3,630,158$671,326$3,356,628$620,672$3,103,359$573,770$2,868,851$530,343$2,651,714$452,900$2,264,501$386,506$1,932,528$329,583$1,647,915
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74$785,114$3,925,570$726,032$3,630,158$671,326$3,356,628$620,672$3,103,359$573,770$2,868,851$490,132$2,450,661$418,426$2,092,130$356,950$1,784,748
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Retire @ 7575$848,923$4,244,616$785,114$3,925,570$726,032$3,630,158$671,326$3,356,628$620,672$3,103,359$530,343$2,651,714$452,900$2,264,501$386,506$1,932,528
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76$917,837$4,589,185$848,923$4,244,616$785,114$3,925,570$726,032$3,630,158$671,326$3,356,628$573,770$2,868,851$490,132$2,450,661$418,426$2,092,130
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77$992,264$4,961,320$917,837$4,589,185$848,923$4,244,616$785,114$3,925,570$726,032$3,630,158$620,672$3,103,359$530,343$2,651,714$452,900$2,264,501
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78$1,072,645$5,363,226$992,264$4,961,320$917,837$4,589,185$848,923$4,244,616$785,114$3,925,570$671,326$3,356,628$573,770$2,868,851$490,132$2,450,661
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79$1,159,457$5,797,284$1,072,645$5,363,226$992,264$4,961,320$917,837$4,589,185$848,923$4,244,616$726,032$3,630,158$620,672$3,103,359$530,343$2,651,714
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