tag:blogger.com,1999:blog-5501578761718800303.post2438422063190867633..comments2022-05-16T05:54:36.039-04:00Comments on Talking Points, Meta: The Hallmark of Classrapier7http://www.blogger.com/profile/07734542594754572266noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-5501578761718800303.post-73700225332466326902013-02-21T01:01:53.952-05:002013-02-21T01:01:53.952-05:00Yeah. The terrible environment for newly minted JD...Yeah. The terrible environment for newly minted JDs is something that has shouted from the media's rooftops for about 2 years now. But there's still no doubt that an employed lawyer is still viewed as a top tier job.rapier7https://www.blogger.com/profile/07734542594754572266noreply@blogger.comtag:blogger.com,1999:blog-5501578761718800303.post-18563336206730863532013-02-21T00:51:50.562-05:002013-02-21T00:51:50.562-05:00Funny read.
http://www.huffingtonpost.com/tucker-...Funny read.<br /><br />http://www.huffingtonpost.com/tucker-max/law-school_b_2713943.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5501578761718800303.post-90555957417904957122013-02-19T00:54:55.593-05:002013-02-19T00:54:55.593-05:00I think very few people invest beyond their means....I think very few people invest beyond their means. Most people don't invest at all, and it's a huge problem when they retire and all they have is their Social Security check and a house that might not even be paid off.<br /><br />I don't rely on my investments to make money for my living expenses. I never set aside more than I can afford to while maintaining my current standard of living. As I said before, I'm not sure if I could have stayed put if more money were on the line, but I think with the experiences I've gone through, I probably would have.<br /><br />You touched on an important topic about the timing of investing. It's interesting because me and a friend had this exact same discussion. I'll talk about it in a blog post soon.rapier7https://www.blogger.com/profile/07734542594754572266noreply@blogger.comtag:blogger.com,1999:blog-5501578761718800303.post-63757047100682873172013-02-18T22:43:08.343-05:002013-02-18T22:43:08.343-05:00Of all my friends, I only have one that invests hi...Of all my friends, I only have one that invests his money. He’s technically self-employed and along with some clever booking, pays himself into a traditional IRA. He also owns rental property. His father once told him, “Only suckers work for their money.”<br /><br />When people hear the word “Invest” they think of stocks, ETFs, mutual funds, etc. They also think of the potential loss. I think that people get into trouble by investing beyond their means. For me, I only invest what I’m willing to lose. It’s a form of gambling. You’ve stated before that you took a big hit back in ’08. You didn’t miss that money because you didn’t rely on it to live. Not only that, but you were confident that it would rebound. People see that loss, panic, then never invest again. Probably it would be wiser for those people to invest in other things, such as property. At least then they could see money coming in regularly.<br /><br />People invest in retirement plans for the long haul. I’m less concerned with the immediate satisfaction and more concerned with not working past the age of 60 (55 if I’m lucky).<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5501578761718800303.post-46796598101644229222013-02-18T11:30:22.969-05:002013-02-18T11:30:22.969-05:00Well, if the lawyer lives paycheck to paycheck for...Well, if the lawyer lives paycheck to paycheck for his entire life and never builds up any savings, he's screwed once he retires as opposed to the state worker who built up a nest egg on top of the usually generous pensions that retired state employees receive.<br /><br />I agree with you 100% when you talk about the quality of life for a profession. To me, working a real 40 hour work week and making a decent chunk of change is way better than 60-70 hour weeks and making a big salary.<br /><br />But that furthers my point. Wealth isn't about the job title or how much money you make. It's about the money you invest. The name of the game is everlasting wealth.rapier7https://www.blogger.com/profile/07734542594754572266noreply@blogger.comtag:blogger.com,1999:blog-5501578761718800303.post-39765781361094420872013-02-18T10:34:29.961-05:002013-02-18T10:34:29.961-05:00Interesting subject. I’ve known the lawyer living...Interesting subject. I’ve known the lawyer living paycheck to paycheck. He worked weekends, had a mortgage, car loan, student loan and barely any vacation.<br /><br />I’ve also known the state worker. She had no mortgage, car loan, student loan, was off at 4:30 every day, had every other Friday off and five weeks of vacation a year.<br /><br />The lawyer might be better off when he’s 55 years old, but he’ll never get those years back. The state worker was happy now and will continue to be happy as long as she’s content.<br /><br />The more and more I look at professions, the more I realize it’s not about job titles or salaries, it’s about quality of life. I know people say they would rather work to live than live to work, but I really believe that.<br /><br />The smart play for the state worker is to buy a multi-family home, live in one unit and use the income to pay her mortgage. Then rent out all the units to pay her mortgage on the home she wants. Have her money make money.<br />Anonymousnoreply@blogger.com