How much income should I allocate with a 200k salary

[Alexander Diaz]

Hello everyone. I am an 18 year old freshman in college working towards a Phd in Economics. I will be around the age of 24 when I start working making around $200,000 a year plus whatever my partner makes. to make things simple let's call it $275,000 household income. I do not mind living below my means for a couple of years in order to start my real estate journey. My students loans will be around $1,000 per month which for my salary will no be a problem. The houses I look to buy for investing will be around $100,000-$150,000. How much should I save up per year so I can start investing after a few years. I plan on using the BRRRR strategy to also help finance future investments. Would love to hear your thoughts.

[Nathan Gesner]

Quote from @Alexander Diaz:

I don't have a fancy degree (I literally earned my BA by testing out of every class), but I have common sense and a basic understanding of financial discipline. Here's my advice:

1. Student loans - even with low interest - are bad and should be avoided at all costs. Do the had work and pay your way through school.

2. Student loans - even with low interest - should be paid off before you start to invest. 

If you are smart with financials and money, do a little exercise with two different scenarios:

1. Graduate, start work, and pay the minimum on your student loans. Put extra income towards investments. After the loans are eventually paid off (20 years? 50 years?), then add that to whatever you are investing. Where do you end up in 30, 50, or 70 years?

2. Pay the debt off like a madman. If you work extra hours, get $20 in your birthday card from Aunt Gertrude, or pick up a nickel off the ground, you put it toward the debt. After you've paid off the debt completely, start using that same hustle to invest. Where do you end up in 30, 50, or 70 years?

Math don't lie. Debt holds you down in a variety of aspects and will hinder your performance as an investor.

Proverbs 22:7 The rich rule over the poor, and the borrower is the slave of the lender.