conversation: User (quantumfluxcapacitor): "**Background**: 21/M, I'm an electrical engineering student in Silicon Valley who is a year away from being done with that degree. Considering taking an extra half year to finish up a physics degree as well.\n\n**Problem Statement**: I've had paid research positions in the past but after my internship this summer is over will be the first time in my life I'll actually have "real" money to work with and I want to get a sense of what I should be doing with it right now to set myself up for the future.\n\n**Additional Information**: I have very little real-world experience with managing money, most of what I know about budgeting and investing comes from reading posts on here but it's all very theoretical and hazy. On the advice of my father I'm currently in the process of setting up a Roth IRA through Vanguard that I plan to dump ~10% of my salary into each pay cycle. Beyond that and keeping a basic budget to get a sense of what I'm able to spend each month, I have no idea. \n\nI'm a solid student with connections and a lot of interest in what I am studying so grad school is an option, but I also have a good work ethic and a lot of confidence in my ability to learn on my own so I'm weighing going directly into the work force against pursuing a doctoral degree. The financial aspect plays a big role in this decision. "
  Self: "The single best thing you can do for your money, aside from any plan (which, incidentally, you should look at the [wiki](https://www.reddit.com/r/personalfinance/wiki/commontopics) to get started), is to **get out of the valley**.  That place is the money pit capital of the U.S..  Find a good job post-graduation (whether that's soon or after grad school) with good pay and a low COL.  Engineering jobs are all over the place."
  User (quantumfluxcapacitor): "Can you expand on what you mean by "money pit capital of the US"? I'm not sure I quite understand."
  Self: "It has some of the highest costs of living in the entire mainland US.  Houses are routinely $1m+, everything from consumer staples to gasoline is more expensive, taxes are higher, and all of this just eats your paycheck alive.  Six figures out there is barely enough to get by in some parts of town.\n\nContrast that with living nearly anywhere else except NYC, and you'll likely find that your paycheck, while it might not be as high, goes much further."
  Jeordy-Laforge (Jeordy-Laforge): "Moved from New York to Texas. I took a pay cut but because of costs and taxes, got a pay raise (take home cash was much higher)."
  EB90RPM (EB90RPM): "You guys are missing a major selling point though. Texas is a horrible place with routine 100+ degree weather. I'm happy to pay to not live there. Doesn't happiness and lack of misery count for something?"
  Jeordy-Laforge (Jeordy-Laforge): "I see it like this.\n\nIt keeps my pool nice and warm. Nothing like a warm pool to swim in nightly."
  MoistDadBod (MoistDadBod): "Holy shit that's insane. I'm Canadian so maybe a bit more inclined to lower temperatures but a warm / hot pool sounds ***terrible***.\n\nI want my pool cool to cold so I can get reprieve from the (luckily) short period of hot/humid weather."
  Jeordy-Laforge (Jeordy-Laforge): "You haven't tried it.  It's like taking a swim in the Caribbean.  No shock and jarring cold snap.  Just a joyous swim.  \n\nMy pool temperature is 84F ATM."
  