 |
| |
|
|
Japher
|
 |
Ook! Ook! Ack! Ack! Ack!
Jun 2002
time: 05:34
|
|
Whatever.
The problem isn't the system, it's those who are in the system just don't know how to work it, and the system doesn't teach you that. In general, most people know nothing about money. That's no big suprise.
Everything you get in life will cost you time or money. You just have to learn to maximize the backend returns.
Getting and education and going $20,000 into debt is not that bad when you look at the whole spreadsheet and not just one column. Student loans sit aroun 4%, which is awesome, so most graduates take their time in paying it off even though they make $52,000/year!
$52,000/year is a lot of money, and can get you a lot of things. However, ppl would rather get a BMW over a Honda, go out to dinner instead of cook it, buy their dream home instead of a rental, take lavish vacations instead of just laying around the house. Most people get a sticker shock at what they are making, and the money is ussually out of their pocket before it is even in... This, is called a liability.
I really don't like articles that complain about ppl not being able to handle money and take an air that "it's not fair". What's not fair? That ppl are stupid? No it's not fair, but everyone has the same chance (mostly), and that is the only way to make it fair.
I had a college loan, it's gone, and has been gone for 2 years now, 3 years after I graduated. I have a car loan, but it's figured into my cash flow. I was $24,000 in debt 5 years ago, and now I am up more than $25,000! If I can do it, anyone can.
Home: Buying your home is a liability. It costs you to live in it. Buying a rental that can create you an income is an asset. Get enough assets, your home can become one too.
Credit Cards: Why have one? To build credit to increase your borrowing power. It is not there to put stuff on that you don't have the money to pay for now. End of story.
Loans: They are there to allow you to gather income producing assets. Not generate debt.
---
quote:
I strongly dislike the extreme individualism in the US, where property is such a be-all end-all. |
I'll agree with your points, but I like it. PT and the likes are something I already pay for, if it sucks than blame the government not the capitalism. For it is capitalism that gives the government so much money to mishandle.
|
|
| |
|
|
|
Guynemer
|
|
$20,000?
That would be heavenly.
By the time I graduate in June, I'll be in the neighborhood of $170,000.
|
|
| |
|
|
|
Guynemer
|
|
On the contrary.
For the duration of my residency (3-4 years), I will be making around $36k, which is considerably below minimum wage when one considers the hours I will be working.
Once I'm done with residency, I will do much better; but I will also have the burden of malpractice insurance, in addition to whatever additional costs I haven't even conceived of yet. When one considers that pediatrics is the poorest-paid specialty in medicine, it will very likely be on the order of 20-30 years, at best, before my debt is paid off.
|
|
| |
|
|
|
Jon Miller
|
|
I owe ~30,000
~22,000 from undergrad
~8,000 because I have not been able to live within my means in grad school
I think I was just tired of doing nothing all the time, in undergrad I would do not do anything that cost money because I didn't have any, I would spend a hundred or so per semester on myself (food, housing and tuition were all payed for by scholarships, loans, and work that I did)
I think I need to get myself back under control now though
Jon Miller
|
|
| |
|
|
|
Jon Miller
|
|
yah, doctors don't make their money back for 10ish years
Jon Miller
|
|
| |
All times are GMT. The time now is 05:34.
Apolyton Time is 00:34. |
top of page
|
| archivepost |
|
Forum Rules:
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
|
HTML code is ON
vB code is ON
Smilies are ON
[IMG] code is ON
|
|
|
|
|
|
18-03-2004 04:24
|