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Interesting Yahoo Article: "How to tell if you're rich"
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Beth
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Beth
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Posted by isabelle2137
I think that is fantastic about your father. I wonder how he managed to become a multi millionaire though? Was it in real estate or market investments?
Hope I am not asking too personal of a question, I am just curious.
mostly investing - starting when they were in their 30s
my parents also rarely bought new cars
or much for themselves
they decided not to trade up our house when they could
Good Heath insurace- huge when my Mom got sick- her bills were over $1M - they paid only $10K out of pocket total
I still don't fully grasp how they did it- of course my Mom never got to enjoy any of it- so I go back and forth about what is important in life
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Posted 10/17/08 10:17 AM  |
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isabelle2137
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Posted by Beth1210
Posted by isabelle2137
I think that is fantastic about your father. I wonder how he managed to become a multi millionaire though? Was it in real estate or market investments?
Hope I am not asking too personal of a question, I am just curious.
mostly investing - starting when they were in their 30s
my parents also rarely bought new cars
or much for themselves
they decided not to trade up our house when they could
Good Heath insurace- huge when my Mom got sick- her bills were over $1M - they paid only $10K out of pocket total
I still don't fully grasp how they did it- of course my Mom never got to enjoy any of it- so I go back and forth about what is important in life
My heart goes out to you about your mom's passing.
I lost my dad suddenly a few years ago. He was a big wig at a utility company and worked there for years. At the time he died, he left behind a lof of life insurance, money in the bank, investments and a pension for my mom. Not to mention a beautiful home that has no mortgage. He was a wonderful man, but he only started to spend money on himself right before he died.
I find myself doing things as he did. I am a saver, DH and I aren't the type to spend lavishly on ourselves.
But it makes me wonder, how long will DH and I be around to enjoy this?
I struggle with finding the balance between living for today and making sure we are prepared for bad times too. But hey, I guess that is another thread entirely!!
Sorry to hijack 
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| Posted 10/17/08 10:26 AM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
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Beth
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Posted by isabelle2137
[
My heart goes out to you about your mom's passing.
I lost my dad suddenly a few years ago. He was a big wig at a utility company and worked there for years. At the time he died, he left behind a lof of life insurance, money in the bank, investments and a pension for my mom. Not to mention a beautiful home that has no mortgage. He was a wonderful man, but he only started to spend money on himself right before he died.
I find myself doing things as he did. I am a saver, DH and I aren't the type to spend lavishly on ourselves.
But it makes me wonder, how long will DH and I be around to enjoy this?
I struggle with finding the balance between living for today and making sure we are prepared for bad times too. But hey, I guess that is another thread entirely!!
Sorry to hijack
thank you - (and sorry to the op for the hijack)
I am so sorry about your Dad - he sounds like he was a great guy 
I know it's hard but hopefully we with both live longer then our parents 
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| Posted 10/17/08 10:31 AM |
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cjik
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Interesting article. While I don't consider $250K rich in this area, I do think you can live quite well on that money. If you can't, you need to take a serious look at your spending and whether you have taken on too much debt whether it's credit cards, car loans, mortgage, or student loans. One of my friends constantly complains that she's broke, but she travels to Europe on the spur of the moment and spends obscene amounts of money on clothes and her hair. That's her choice. I told her this once when she was complaining--it's not like she needs these things.
We earn about half this amount, and honestly, this is the most money I've had in my life. Yet most of my life I've felt fortunate because I generally had enough money to pay my bills no problem, and buy the things I need plus take a trip now and then. I didn't earn enough to buy expensive cars or clothes, but I never felt I needed them. My DH is the same way, and we hope to raise our son with these values. I think a lot of this came from my parent's example--they were never cheap, but they lived on less money than we have, and they taught us the how to handle money, how to budget, and set limits for us when we were too young to know better. I've also spent many years working with people who really have nothing, no money (some through their own doing but many were working multiple jobs), no education, no idea how to advance themselves, etc. Doing that humbles you and makes you realize how lucky you are if you can pay your rent, see a doctor when you are sick, or buy a new pair of inexpensive shoes without breaking your monthly budget.
This is a long post, but I guess I'm saying I've felt rich a lot of my life, even if I'm not by the standards in this article.
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| Posted 10/17/08 1:15 PM |
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Posted by kahlua716
Posted by Tilde
POOP! I am not rich ANYWHERE! 
Me neither 
Me neither!
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| Posted 10/17/08 1:18 PM |
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banda61007
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Bonnie
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Posted by Bxgell2
Posted by mrsej
Posted by Beth1210
Posted by Karen
In most careers, in order to make $250k, you probably have a boatload of student loans!
A married couple, both lawyers - probably could make $250k a year. But they are probably also dealing with $5-10k a month in student loans! Same for a doctor, my SIL will leave med school with almost $300k in student loans. It's insane!
I think student loans are going to be the dealth of our generation
our parents generation didn't start out in life in debt the people do today
I wanted to go to law school- but I saw what student loans were doing my friends who graduated before me- and I decided it wasn't worth it
It's not, believe me...you probably made one of the best choices of your life - I was discussing this with a few ladies on the other post and told them that if I could do anything over, i wouldn't have gone to law school, and I actually like my job, which is a rarity in that field. consider yourslef very very lucky and one of the smart ones!
I just have to pipe in here for a second - going to law school, or getting a graduate degree, does not necessarily have to become an overwhelming loan burden - it's all about making choices. I had the choice of going to a top 10 law school, but I knew if I did that, I'd be forever bound to working for a big firm, to pay my big loans. Instead, I opted for a less reknown, but still highly recognized law school, that offered a scholarship so my yearly cost was under $5k.
It can be done...
This depends a lot on what you want to do when you get out. If you actually want to work for a big firm, or be a federal clerks you have to go to a certain ranking of school. I don't think it is right, I think the process for hiring in the legal profession is deeply flawed, but it is the way it is. I am involved in recruiting at my firm and we don't even review resumes outside of a certain ranking of school, just the firm's policy.... It is MUCH easier to get these jobs coming from NYU/Columbia/Fordham than from a lesser ranked school, especially if you go outside the first tier. You were very lucky to get a scholarship, that's awesome, but doesn't happen for everyone at a highly recognized school.
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| Posted 10/17/08 1:27 PM |
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Bxgell2
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Member since 5/05 16438 total posts
Name:
Beth
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Posted by banda61007
Posted by Bxgell2
Posted by mrsej
Posted by Beth1210
Posted by Karen
In most careers, in order to make $250k, you probably have a boatload of student loans!
A married couple, both lawyers - probably could make $250k a year. But they are probably also dealing with $5-10k a month in student loans! Same for a doctor, my SIL will leave med school with almost $300k in student loans. It's insane!
I think student loans are going to be the dealth of our generation
our parents generation didn't start out in life in debt the people do today
I wanted to go to law school- but I saw what student loans were doing my friends who graduated before me- and I decided it wasn't worth it
It's not, believe me...you probably made one of the best choices of your life - I was discussing this with a few ladies on the other post and told them that if I could do anything over, i wouldn't have gone to law school, and I actually like my job, which is a rarity in that field. consider yourslef very very lucky and one of the smart ones!
I just have to pipe in here for a second - going to law school, or getting a graduate degree, does not necessarily have to become an overwhelming loan burden - it's all about making choices. I had the choice of going to a top 10 law school, but I knew if I did that, I'd be forever bound to working for a big firm, to pay my big loans. Instead, I opted for a less reknown, but still highly recognized law school, that offered a scholarship so my yearly cost was under $5k.
It can be done...
This depends a lot on what you want to do when you get out. If you actually want to work for a big firm, or be a federal clerks you have to go to a certain ranking of school. I don't think it is right, I think the process for hiring in the legal profession is deeply flawed, but it is the way it is. I am involved in recruiting at my firm and we don't even review resumes outside of a certain ranking of school, just the firm's policy.... It is MUCH easier to get these jobs coming from NYU/Columbia/Fordham than from a lesser ranked school, especially if you go outside the first tier. You were very lucky to get a scholarship, that's awesome, but doesn't happen for everyone at a highly recognized school.
I see your point, but by the same token, I have several friends from law school who are working for the big firms in my area, and though I didn't go to a top 10 school, I beat 400 other applicants for my current job at a highly coveted federal agency. The doors aren't THAT closed for students who go to lesser ranking schools. I'm not saying the bottom of the barrel - just that, instead of going to school #14 (Georgetown), I opted for school#59 (Temple Law).
Yes, I was lucky that I was offered a scholarship through my school, but I also spent WEEKS and WEEKS researching private scholarships and obtained private funding that way as well.
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| Posted 10/17/08 1:35 PM |
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stickydust
Now a mommy of 2!!!
Member since 4/06 3164 total posts
Name:
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Posted by Bxgell2
Posted by mrsej
Posted by Beth1210
Posted by Karen
In most careers, in order to make $250k, you probably have a boatload of student loans!
A married couple, both lawyers - probably could make $250k a year. But they are probably also dealing with $5-10k a month in student loans! Same for a doctor, my SIL will leave med school with almost $300k in student loans. It's insane!
I think student loans are going to be the dealth of our generation
our parents generation didn't start out in life in debt the people do today
I wanted to go to law school- but I saw what student loans were doing my friends who graduated before me- and I decided it wasn't worth it
It's not, believe me...you probably made one of the best choices of your life - I was discussing this with a few ladies on the other post and told them that if I could do anything over, i wouldn't have gone to law school, and I actually like my job, which is a rarity in that field. consider yourslef very very lucky and one of the smart ones!
I just have to pipe in here for a second - going to law school, or getting a graduate degree, does not necessarily have to become an overwhelming loan burden - it's all about making choices. I had the choice of going to a top 10 law school, but I knew if I did that, I'd be forever bound to working for a big firm, to pay my big loans. Instead, I opted for a less reknown, but still highly recognized law school, that offered a scholarship so my yearly cost was under $5k.
It can be done...
While I do have an incredible amount of debt i have absolutely no regrets about going to law school. I plug away at it every month an well life goes on - I don't feel overwhelmed or anything - I do not let it stress me out. I am happy I went to law school though and I do not think the financial aspect should deter a person from going if it is was they truly want to do. For me, going to a top Law school (or any law school for that matter)has provided me with enormous opportunities that I otherwise would not have. I am so fortunate to be able to stay home with my DD while I work from home, mostly at nights - very few jobs offer so many different options and avenues.
With respect to the question at hand, I feel that any concept of rich or "well off" is subjective. I think this can be debated until the cows come home but your concept is always going to be dictated by your upbringing and your peers. All that matters is that YOU are happy with your own decisions and lifestyle and if you are not than you are working to improve that in whatever ways one sees fit.
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| Posted 10/17/08 1:35 PM |
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bluegreen08
LIF Adolescent
Member since 10/07 574 total posts
Name:
a
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Posted by Bxgell2
I just have to pipe in here for a second - going to law school, or getting a graduate degree, does not necessarily have to become an overwhelming loan burden - it's all about making choices. I had the choice of going to a top 10 law school, but I knew if I did that, I'd be forever bound to working for a big firm, to pay my big loans. Instead, I opted for a less reknown, but still highly recognized law school, that offered a scholarship so my yearly cost was under $5k.
It can be done...
I did the same thing... I took a full scholarship at a top 20 school over paying full price at a top 5 school. I didn't know what I wanted to do, and didn't want to be locked into a big firm job. It turns out that I'm heading to a big firm now, but I'm glad I have the flexibility of switching jobs if I decide I hate it. At the time a lot of people told me I was making a huge mistake, but as time passed I couldn't be happier with my decision. It's not like I went to a tier 4 school or anything, but there's still a difference in name recognition.
I have classmates with unbelievable amounts of student loans, and I'm glad I had the opportunity to avoid it.
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| Posted 10/17/08 1:44 PM |
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jellybean78
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Mommy
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Posted by Beth1210
Posted by isabelle2137
Student loans are absurd these days. I have been saying for years that four years of college is unnecessary.
I loved those years of my life, but I didn't need four years of school to get me where I am - in a great job in the financial industry that I love.
Most of my accounting/finance colleagues agree with me.
18 year olds making the decesion to take on a hundred + thousand dollars worth of debt
whose bright idea was this?
ITA It's ridiculous....most of these kids graduate with student loans up the wazoo and the income that doesn't support it.
how unfair
the price of college is so out of control
my Dad was able to work a summer job and save enough to pay for school for the year
good luck doing that today- you would be lucky to have enough spending money
ITA
I also think it's a choice...the CUNY schools and SUNY schools in NY are good and affordable. Why not do those instead of NYU and Cornell...a name is nice but IMO not worth the years of debt.
One of my BFF went to school got her BA/Masters and didn't take on any student loans. She worked and paid her own way. At 30 she alone is making 6 figures with no student loans. Its a choice. IMO I don't feel bad for those that took out obscene amouts of student loans...you made a choice and you have to live with it. Hopefully your career will allow you to pay back your loans but nothing in life is guaranteed.
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| Posted 10/17/08 1:50 PM |
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banda61007
LIF Infant
Member since 7/07 296 total posts
Name:
Bonnie
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Re: Interesting Yahoo Article: "How to tell if you're rich"
I see your point, but by the same token, I have several friends from law school who are working for the big firms in my area, and though I didn't go to a top 10 school, I beat 400 other applicants for my current job at a highly coveted federal agency. The doors aren't THAT closed for students who go to lesser ranking schools. I'm not saying the bottom of the barrel - just that, instead of going to school #14 (Georgetown), I opted for school#59 (Temple Law).
Yes, I was lucky that I was offered a scholarship through my school, but I also spent WEEKS and WEEKS researching private scholarships and obtained private funding that way as well.
I agree, there is a big difference between going to Temple over GTown than a much lower ranked school and that is great that you were able to score a great job without incurring tons of debt, many (including me) would be very envious!! I just wanted to bring it up because I happen to know a number of people who did what you did with lower ranked NY schools and ended up getting really screwed in the job market (they wanted big firm and couldnt get it), so guess it could go either way... and a lot of ppl aren't willing to take the risk.
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| Posted 10/17/08 1:55 PM |
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MrsM-6-7-08
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Member since 8/06 4249 total posts
Name:
Nicole
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Posted by jacquig
Posted by Beth1210
Posted by isabelle2137
Student loans are absurd these days. I have been saying for years that four years of college is unnecessary.
I loved those years of my life, but I didn't need four years of school to get me where I am - in a great job in the financial industry that I love.
Most of my accounting/finance colleagues agree with me.
18 year olds making the decesion to take on a hundred + thousand dollars worth of debt
whose bright idea was this?
ITA It's ridiculous....most of these kids graduate with student loans up the wazoo and the income that doesn't support it.
how unfair
the price of college is so out of control
my Dad was able to work a summer job and save enough to pay for school for the year
good luck doing that today- you would be lucky to have enough spending money
ITA
I also think it's a choice...the CUNY schools and SUNY schools in NY are good and affordable. Why not do those instead of NYU and Cornell...a name is nice but IMO not worth the years of debt.
One of my BFF went to school got her BA/Masters and didn't take on any student loans. She worked and paid her own way. At 30 she alone is making 6 figures with no student loans. Its a choice. IMO I don't feel bad for those that took out obscene amouts of student loans...you made a choice and you have to live with it. Hopefully your career will allow you to pay back your loans but nothing in life is guaranteed.
ITA
SUNY schools are excellent, and they are so much more affordable than going to a private school.
I think their is a stigma, when kids graduate HS. I think it is drilled into their head to go to a "good" school. And the better the school the more expensive it will be but the more money you will make.
Alot of college grads that graduate from Hofstra are in over 100k in debt just from a bachelors and expect to come out making top pay in their field
I think the High Schools need to educate students on Debt, and the reality of what happens after you graduate.
I have met people with 300k in student loans, yes they went to medical school or law school. But seriously how does one start their life with that much debt hanging over them. It seems like a huge sacrifice.
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| Posted 10/17/08 2:04 PM |
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stickydust
Now a mommy of 2!!!
Member since 4/06 3164 total posts
Name:
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Posted by jacquig
Posted by Beth1210
Posted by isabelle2137
Student loans are absurd these days. I have been saying for years that four years of college is unnecessary.
I loved those years of my life, but I didn't need four years of school to get me where I am - in a great job in the financial industry that I love.
Most of my accounting/finance colleagues agree with me.
18 year olds making the decesion to take on a hundred + thousand dollars worth of debt
whose bright idea was this?
ITA It's ridiculous....most of these kids graduate with student loans up the wazoo and the income that doesn't support it.
how unfair
the price of college is so out of control
my Dad was able to work a summer job and save enough to pay for school for the year
good luck doing that today- you would be lucky to have enough spending money
ITA
I also think it's a choice...the CUNY schools and SUNY schools in NY are good and affordable. Why not do those instead of NYU and Cornell...a name is nice but IMO not worth the years of debt.
One of my BFF went to school got her BA/Masters and didn't take on any student loans. She worked and paid her own way. At 30 she alone is making 6 figures with no student loans. Its a choice. IMO I don't ry pleased feel bad for those that took out obscene amouts of student loans...you made a choice and you have to live with it. Hopefully your career will allow you to pay back your loans but nothing in life is guaranteed.
There are many careers in which where you went to school does matter. It can absolutely shape your career. It may not be right but it is reality.
I do not think that anyone here with student loans asked you to feel sorry for them. I think the point was that its not all peaches and cream at 250K. But you are right, it was my choice and I do live with it and am very pleased with my choice. However, I must point out - that it was also your choice not to pursue these specific degree programs that enable one to make that kind of money. And that is fine too and I am sure you are equally as happy with your choice. Just don't begrudge those who chose the 250K route.
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| Posted 10/17/08 2:08 PM |
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bluegreen08
LIF Adolescent
Member since 10/07 574 total posts
Name:
a
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Re: Interesting Yahoo Article: "How to tell if you're rich"
If I knew then what I know now, I might have gone to a state school for undergrad and then gone all out for law school --- but, I went to a top 10 private school for college with only a small scholarship, and decided it was in my best interest to take the full ride to law school rather than go for the bigger name school.
I dont regret my decision, especially since I met my DH in college, but if I had to give advice to someone else I would explain that your undergrad rank and name isn't as important as your law school rank and name, and a great LSAT score can easily counterbalance a lower ranked college.
I just didnt know any of this at the time
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| Posted 10/17/08 2:12 PM |
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mrsej
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Member since 1/07 2495 total posts
Name:
Mommy
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Posted by stinkysmom80
Posted by jacquig
Posted by Beth1210
Posted by isabelle2137
Student loans are absurd these days. I have been saying for years that four years of college is unnecessary.
I loved those years of my life, but I didn't need four years of school to get me where I am - in a great job in the financial industry that I love.
Most of my accounting/finance colleagues agree with me.
18 year olds making the decesion to take on a hundred + thousand dollars worth of debt
whose bright idea was this?
ITA It's ridiculous....most of these kids graduate with student loans up the wazoo and the income that doesn't support it.
how unfair
the price of college is so out of control
my Dad was able to work a summer job and save enough to pay for school for the year
good luck doing that today- you would be lucky to have enough spending money
ITA
I also think it's a choice...the CUNY schools and SUNY schools in NY are good and affordable. Why not do those instead of NYU and Cornell...a name is nice but IMO not worth the years of debt.
One of my BFF went to school got her BA/Masters and didn't take on any student loans. She worked and paid her own way. At 30 she alone is making 6 figures with no student loans. Its a choice. IMO I don't feel bad for those that took out obscene amouts of student loans...you made a choice and you have to live with it. Hopefully your career will allow you to pay back your loans but nothing in life is guaranteed.
ITA
SUNY schools are excellent, and they are so much more affordable than going to a private school.
I think their is a stigma, when kids graduate HS. I think it is drilled into their head to go to a "good" school. And the better the school the more expensive it will be but the more money you will make.
Alot of college grads that graduate from Hofstra are in over 100k in debt just from a bachelors and expect to come out making top pay in their field
I think the High Schools need to educate students on Debt, and the reality of what happens after you graduate.
I have met people with 300k in student loans, yes they went to medical school or law school. But seriously how does one start their life with that much debt hanging over them. It seems like a huge sacrifice.
I think there is a trend starting among some of the upper tier colleges, such as harvard and UPenn to drastically cut tuition costs - Harvard has such a high endowment that it doesn't even need to collect tuition from their students. If you make 180k or less, you only pay 10% of what you make. So if you make 150K, you only have to pay 15K a year, which is a lot, but for Harvard which is around 40K a year, that is pretty good.
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| Posted 10/17/08 2:12 PM |
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mrsej
The cutest!
Member since 1/07 2495 total posts
Name:
Mommy
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Posted by stickydust
Posted by jacquig
Posted by Beth1210
Posted by isabelle2137
Student loans are absurd these days. I have been saying for years that four years of college is unnecessary.
I loved those years of my life, but I didn't need four years of school to get me where I am - in a great job in the financial industry that I love.
Most of my accounting/finance colleagues agree with me.
18 year olds making the decesion to take on a hundred + thousand dollars worth of debt
whose bright idea was this?
ITA It's ridiculous....most of these kids graduate with student loans up the wazoo and the income that doesn't support it.
how unfair
the price of college is so out of control
my Dad was able to work a summer job and save enough to pay for school for the year
good luck doing that today- you would be lucky to have enough spending money
ITA
I also think it's a choice...the CUNY schools and SUNY schools in NY are good and affordable. Why not do those instead of NYU and Cornell...a name is nice but IMO not worth the years of debt.
One of my BFF went to school got her BA/Masters and didn't take on any student loans. She worked and paid her own way. At 30 she alone is making 6 figures with no student loans. Its a choice. IMO I don't ry pleased feel bad for those that took out obscene amouts of student loans...you made a choice and you have to live with it. Hopefully your career will allow you to pay back your loans but nothing in life is guaranteed.
There are many careers in which where you went to school does matter. It can absolutely shape your career. It may not be right but it is reality.
I do not think that anyone here with student loans asked you to feel sorry for them. I think the point was that its not all peaches and cream at 250K. But you are right, it was my choice and I do live with it and am very pleased with my choice. However, I must point out - that it was also your choice not to pursue these specific degree programs that enable one to make that kind of money. And that is fine too and I am sure you are equally as happy with your choice. Just don't begrudge those who chose the 250K route.
ITA - i was just typing when I read this..you just saved me the time!
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| Posted 10/17/08 2:13 PM |
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stickydust
Now a mommy of 2!!!
Member since 4/06 3164 total posts
Name:
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Everyone makes the educational decision that is best for them. There is no right or wrong answer. You can go to an IVY you can go to a SUNY. You can take out loans or not. Bottom line is not everyone is going to make the same decision - and thank god for that.
I think this thread is coming dangerously close to judging those who decided to take out student loans. There is absolutely nothing wrong with that. Just as there is absolutely nothing wrong with choosing a SUNY instead of an IVY. Everyone has different career goals and priorities that dictate where they want to get their higher education from.
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| Posted 10/17/08 2:20 PM |
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Mommy2Boys
My Boys!!!!
Member since 6/06 14437 total posts
Name:
C
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Posted by Beth1210
Posted by Michelle1123
I still consider anyone who makes $250k, with or without kids, on LI to be well off. I never said RICH. I think it all depends on someone's interpretation of the word.
if you can't make on $250K- you need to read a book or take a class in money management
ITA!!!!
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| Posted 10/17/08 2:37 PM |
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Mommy2Boys
My Boys!!!!
Member since 6/06 14437 total posts
Name:
C
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Re: Interesting Yahoo Article: "How to tell if you're rich"
I think there is a trend starting among some of the upper tier colleges, such as harvard and UPenn to drastically cut tuition costs - Harvard has such a high endowment that it doesn't even need to collect tuition from their students. If you make 180k or less, you only pay 10% of what you make. So if you make 150K, you only have to pay 15K a year, which is a lot, but for Harvard which is around 40K a year, that is pretty good.
Really...is this how the tuition works there? Looks like I can put DS through Harvard after all
Message edited 10/17/2008 2:42:11 PM.
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| Posted 10/17/08 2:41 PM |
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Bxgell2
Perfection
Member since 5/05 16438 total posts
Name:
Beth
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Posted by stickydust
I think this thread is coming dangerously close to judging those who decided to take out student loans.
No judgment here, and that was not the intent of my posts - I was merely responding the sentiment I've seen the last few days of people saying they either regret going to law school, or didn't go due to financial constraints, even though they wanted to.
I'm giving a different perspective to help anyone who is considering going to law school to see that there are ways of getting around the big debt, while still getting a good education and degree that comes with opportunity.
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| Posted 10/17/08 2:42 PM |
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isabelle2137
LIF Adult
Member since 12/06 1076 total posts
Name:
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Re: Interesting Yahoo Article: "How to tell if you're rich"
Posted by stickydust
Posted by jacquig
Posted by Beth1210
Posted by isabelle2137
Student loans are absurd these days. I have been saying for years that four years of college is unnecessary.
I loved those years of my life, but I didn't need four years of school to get me where I am - in a great job in the financial industry that I love.
Most of my accounting/finance colleagues agree with me.
18 year olds making the decesion to take on a hundred + thousand dollars worth of debt
whose bright idea was this?
ITA It's ridiculous....most of these kids graduate with student loans up the wazoo and the income that doesn't support it.
how unfair
the price of college is so out of control
my Dad was able to work a summer job and save enough to pay for school for the year
good luck doing that today- you would be lucky to have enough spending money
ITA
I also think it's a choice...the CUNY schools and SUNY schools in NY are good and affordable. Why not do those instead of NYU and Cornell...a name is nice but IMO not worth the years of debt.
One of my BFF went to school got her BA/Masters and didn't take on any student loans. She worked and paid her own way. At 30 she alone is making 6 figures with no student loans. Its a choice. IMO I don't ry pleased feel bad for those that took out obscene amouts of student loans...you made a choice and you have to live with it. Hopefully your career will allow you to pay back your loans but nothing in life is guaranteed.
There are many careers in which where you went to school does matter. It can absolutely shape your career. It may not be right but it is reality.
I do not think that anyone here with student loans asked you to feel sorry for them. I think the point was that its not all peaches and cream at 250K. But you are right, it was my choice and I do live with it and am very pleased with my choice. However, I must point out - that it was also your choice not to pursue these specific degree programs that enable one to make that kind of money. And that is fine too and I am sure you are equally as happy with your choice. Just don't begrudge those who chose the 250K route.
Actually, I never posted about sympathy for people with student loans. I went to an out of state prestigious business school. I have student loans, I chose the 250k route. I also post frequently that in my book 250k does not equal rich.
My only point was that for many undergraduate degrees, four years of school/loans are simply not necessary.
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| Posted 10/17/08 2:58 PM |
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| Pages: 1 [2] |
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