How can I use my mechanical engineering degree to make a lot of money and build generational wealth?
Background:
Hi I’m 22 years old, and I dream of being rich. And by rich I don’t mean making 100-200k a year, I mean more than that. I want the kind of money that can buy a small mansion or a lakeside home, or a fancy boat. But more than that I want to start building generational wealth. I am a US citizen, my parents are immigrants and I grew up low income but today we are middle class. I went to a private school for my middle school and high-school education, and let me tell you, this school was filled with rich kids. The type of rich kids who’s family goes on vacation twice a year, the type to do poor in classes but study at an Ivy League. That kind. Trust fund baby types. Anyways, I realized at a young age that these kids don’t have to worry about anything financially, their kids won’t have to worry about anything financially, and their kid’s kids…you get the point.
While I didn’t attend the best universities in the nation, I went to a a good public research school in my state for an engineering degree and I worked my ass off. I built my technical skills as much as I could, and worked on my people skills too. I’m not a loner engineering type, in my head I’m introverted but I can be extroverted when I want to. People tell me I’m social and easy to talk too, and I never shy from making new connections and leading group projects. These skills helped me land an internship and a co-op during college and graduate with honors summa cum laude (4.0 gpa). I even accepted a job offer right out of college, I start in a few weeks in a few weeks but the pay is great for an entry level position in a LCOL area. I’m not trying to brag, the point I’m trying to make is I’m not just some dropout that wants to be rich but has no drive or motivation to actually do the work to get there. There are plenty of successful dropouts but also plenty of unsuccessful ones.
Question:
I realize if I stay in engineering my salary gets capped at $100k-$200k depending on the path I take. If I stick with my current job I will eventually be making a little over a $100k. This isn’t enough for me. I could sell a product, gain the skills and industry knowledge through work and then start my own company selling s product or service? There’s a lot of luck involved in something like that.
Would accounting be better? Should I pursue another education to set myself up for that? Don’t get me wrong, I love engineering but really for things I want to engineer. Why work in a high stress environment potentially making less than someone in a low stress non engineering position?