tag:blogger.com,1999:blog-5452025352696285200.post8523386121542689951..comments2024-02-23T04:59:26.907-05:00Comments on But I Did Everything Right!: Education and Four Other Expenses that will Consume 50% of Your Lifetime Earnings.Angelhttp://www.blogger.com/profile/07820446523257638689noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-5452025352696285200.post-32579778571376806252010-08-08T14:13:17.062-04:002010-08-08T14:13:17.062-04:00Saving for retirement is for chumps. If there'...Saving for retirement is for chumps. If there's hyperinflation, and you save yourself a million bucks, it might wind up paying for nothing more than a can of soup.<br /><br />http://www.johntreed.com/hyperinflationdepression.html<br /><br />Almost all of the things that are on that list are things that the government has ruined by getting involved in the market.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5452025352696285200.post-7918818178115221852010-08-07T16:24:55.972-04:002010-08-07T16:24:55.972-04:00But, but...the U.S. has fallen to 12th among count...But, but...the U.S. has fallen to 12th among countries with the number of college grads!<br /><br />http://www.nytimes.com/2010/08/07/opinion/07herbert.html<br /><br />Sound the alarm!<br /><br />"At a time when a college education is needed more than ever to establish and maintain a middle-class standard of living, America’s young people are moving in exactly the wrong direction. A well-educated population also is crucially important if the U.S. is to succeed in an increasingly competitive global environment."<br /><br />Disgusting shillery! Mass producing millions more college graduates with worthless degrees and leaving them heavily in debt will not turn the country around, it will only accelerate its decline. One of the (many) reasons the country sucks so much is that we canned manufacturing and actual productive labor in favor of telling EVERYONE that they should get a college degree so they can work in an office. Then we outsourced those jobs, too. <br /><br />The blind faith of NYT types in more education, all the time, for the sake of education, is sickening. It ignores the real, structural problems we face, and repeatedly blames young people for not "bettering themselves."Scammed Hard!https://www.blogger.com/profile/01044898077026675015noreply@blogger.comtag:blogger.com,1999:blog-5452025352696285200.post-88503833207274590632010-08-07T08:46:06.649-04:002010-08-07T08:46:06.649-04:00Default on student loans are a simple calculation....Default on student loans are a simple calculation. Its the same calculation that cororpations make every day. Will it cost more to comply with contractual obligations or walk away and pay any collectable damages when required to do so. If your student loan payments are greater than garnishment or other collection devices etc.) default.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5452025352696285200.post-56694269044650836072010-08-06T17:21:57.283-04:002010-08-06T17:21:57.283-04:00Thousands if not millions of otherwise responsible...Thousands if not millions of otherwise responsible people will end up childless and bankrupt in old age all because of student loans. The higher education industrial complex is destroying our country regardless of what they say to defend themselves. Their business is no longer about education and accessibility to education for the poor and middle class. College presidents have made that perfectly clear by aligning themselves with corporations like BP and Goldman Sachs and raising tuition to $50k/year.HardKnockshttps://www.blogger.com/profile/08188805912579205968noreply@blogger.comtag:blogger.com,1999:blog-5452025352696285200.post-50319526411432574772010-08-06T15:46:52.916-04:002010-08-06T15:46:52.916-04:00My credit is valuable to me and I have assets beca...My credit is valuable to me and I have assets because I tried to do the right thing when I was earning good money. So, I'm screwed unless I want to lose everything I worked for in the last 10 years. I have to stay current, even though it's so damn hard. Nice thought though.Angel the Lawyerhttps://www.blogger.com/profile/07902928273488771301noreply@blogger.comtag:blogger.com,1999:blog-5452025352696285200.post-26741931841551608082010-08-06T15:43:36.810-04:002010-08-06T15:43:36.810-04:00If you're only making $40k 5 to 10 years out, ...If you're only making $40k 5 to 10 years out, you ought to just default, what are they going to do, garnish your wages? You are already paying them more than they can garnish actually.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5452025352696285200.post-66421492413043454002010-08-06T15:42:16.180-04:002010-08-06T15:42:16.180-04:00I like the use of Abraham Maslow's hierarchy o...I like the use of Abraham Maslow's hierarchy of needs. It seems that TONS of recent JDs will never reach self-actualization. Hell, many will not get past Safety, on the pyramid. They are too damn anxious and fearful of their economic situation, to think about much else.<br /><br />As far as student loans go, these would go under the category of TOXIC DEBT - as one cannot discharge them in bankruptcy. "Gambling debts? Putting your mistress in a tony apartment? Oh sure, why not get a fresh start? Oh, you wanted to 'improve' yourself by getting an advanced degree. You have no one to blame but yourself. Now, get out of here and give me my money."Nandohttps://www.blogger.com/profile/06423524039657355134noreply@blogger.comtag:blogger.com,1999:blog-5452025352696285200.post-23599999508185706612010-08-06T15:28:03.296-04:002010-08-06T15:28:03.296-04:00Angel says:
"So, at the time that I went to ...Angel says:<br /><br />"So, at the time that I went to law school, the median/average salary (I don't know which one, but it was a lie in any scenario) was $74,000. That number sticks out in my mind. I remember being satisfied with that number."<br /><br />As a preliminary matter, I took out $120,000 and made $80,000 my first year out in the dot-com era from a T14. Paid it back within 40 months or so.<br /><br />However, I'm not one of those people who think "I paid them back, why can't everyone else?" with respect to bankruptcy/debt forgiveness.<br /><br />I figure, if you've made an honest effort to obtain employment, and you can't end up making more than $40K practing law 5 to 10 years out, and your debt is $200K, you should just be allowed to discharge it in bankruptcy.<br /><br />This is a government and law school created problem. <br /><br />Don't put young lawyers on the hook for non-dischargable debt.<br /><br />It a problem with the LAW SCHOOL SYSTEM ITSELF, not a "personal responsibility" problem.JPhttps://www.blogger.com/profile/11126071014909954387noreply@blogger.com