Hello everyone. I am Cristian from Columbus, GA. I currently have one year left to obtain my Bachelor's degree in accounting. I have 2 rentals at the moment. I've been debating on whether I should go for my masters after my bachelors to obtain my CPA or should I continue growing in my real estate investing. If I were to not go for my masters, I would be working full time making around $550 per week. I would be able to save up most of that money and keep investing in real estate. Which path should I choose?
Why not do both? Most Master's degree program are only 2 years. Those years will pass by so fast, while you wait, you can save up money for capital or find a property to house hack in the mean time. Not always an either or situation.
$550 per week - Is that before or after taxes?
That comes out to $28,600 a year if before taxes.
I would have assume a Bachelor's degree in Accounting should be able to demand a higher salary than that.
To answer your question - I would advise you to go for the master's program with a preference of waiting till you get at least 2-3 years of working experience.
The reason I suggest waiting 2-3 years is a lot of topics discussed in masters programs relate to topics/scenario's that you won't experience until you are 2-5 years in the profession. You would appreciate/learn more from the program after the work experience.
The thing that sucks is that some employers might want you to be "CPA eligible" which means having the 150 credits.
It's a catch-22.
While real estate can provide a fulfilling career- it's good to have a backup; especially considering the fact that it would provide you a lot of reliability/credentials.
Are you going for Tax, Assurance or General Accounting?
I would have to move away from where I currently live to pursue my masters but you're right that 2 years will fly by fast. Thank you for the advice.
That is after taxes. And thank you for the advice. Having a backup is never a bad idea so I think having a CPA will help me with that. I am just going for general accounting.
Having a CPA designation opens up doors and career paths that would not otherwise be available.
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