Is graduating at 29 to old?

(Please Ask Questions and Answer Questions)
User avatar
cotiger
Posts: 1648
Joined: Tue Jul 23, 2013 11:49 pm

Re: Is graduating at 29 to old?

Postby cotiger » Mon Oct 14, 2013 12:54 am

typ3 wrote:I think maybe the correct answer to the OP should read:

Graduating at 29 from law school in this legal market / economy with debt is too old for it to be a wise financial & career decision.s

Even without debt, the degree is likely not worth the effort and stress.


Some of the posters ITT sound like teenagers. 30 is not old. You're still so, so young and have so much of your life ahead of you. You do not drop dead once you hit 35.

Even if we're just talking about being "financially secure"... if you graduate at 30, you still have 35 MORE YEARS of working before typical retirement. If you graduate at 25, you have 40. This is not a significant difference.

What is significant is taking that extra time to figure out who you are and who you want to be. I'm sure this has been said before, but if you guys are getting into law strictly for the ROI, you're making a poor choice.

User avatar
Stringer Bell
Posts: 1924
Joined: Wed Oct 21, 2009 9:43 pm

Re: Is graduating at 29 to old?

Postby Stringer Bell » Mon Oct 14, 2013 1:11 am

typ3 wrote:
Stringer Bell wrote:Planning to get rich picking stocks = planning to graduate in the top 5% of your law school class.


Lots of people make money investing and through public equities.

What do you plan on doing with your money when you retire? Not invest it and watch it evaporate due to inflation?


Not really what I was saying. Expecting to make more than 8-10% a year or so over a long period of time isn't very realistic. Some people succeed and many don't. It seemed like you were advocating that it was easy to make fat stacks picking individual stocks. Maybe I misinterpreted.

User avatar
redsox
Posts: 612
Joined: Mon Jun 08, 2009 1:40 pm

Re: Is graduating at 29 to old?

Postby redsox » Mon Oct 14, 2013 1:14 am

bizzybone1313 wrote:Like this other guy said, my argument is based in terms of money lost. I calculate in my head all the money I have lost all of the time. If I had gone K-JD, I would be buying a house right about now at historically low interest rates. Instead, I will get to buy one in about 5 years and pay a much higher interest rate.


Are you kidding? It's a bad idea to take a few years off before law school because...you wish you could retroactively time the mortgage market? Do you know how dumb that is?

bizzybone1313 wrote:In 2009, I was this {} close to pulling the trigger on Ford stock. I would be balling if I had had the balls to pull the trigger on it. But Ford was close to going bankrupt at the time. At least I bought CAT and made a lot of money on that. To you peeps in Big Law, I would look into UYG. That is making me a killing right now.


What did you know about Ford that the rest of the market didn't? Nothing. Please don't try to give anyone investing advice. Ever. Unless you hate them. And UYG is an incredibly dangerous product. It got absolutely crushed in 07/08. It's still down like 85% since inception.

User avatar
bizzybone1313
Posts: 996
Joined: Wed Jul 11, 2012 4:31 pm

Re: Is graduating at 29 to old?

Postby bizzybone1313 » Mon Oct 14, 2013 1:18 am

redsox wrote:
bizzybone1313 wrote:Like this other guy said, my argument is based in terms of money lost. I calculate in my head all the money I have lost all of the time. If I had gone K-JD, I would be buying a house right about now at historically low interest rates. Instead, I will get to buy one in about 5 years and pay a much higher interest rate.


Are you kidding? It's a bad idea to take a few years off before law school because...you wish you could retroactively time the mortgage market? Do you know how dumb that is?

bizzybone1313 wrote:In 2009, I was this {} close to pulling the trigger on Ford stock. I would be balling if I had had the balls to pull the trigger on it. But Ford was close to going bankrupt at the time. At least I bought CAT and made a lot of money on that. To you peeps in Big Law, I would look into UYG. That is making me a killing right now.


What did you know about Ford that the rest of the market didn't? Nothing. Please don't try to give anyone investing advice. Ever. Unless you hate them. And UYG is an incredibly dangerous product. It got absolutely crushed in 07/08. It's still down like 85% since inception.


UYG is pretty dangerous. I completly agree. I got in when it was very low. It probably isn't a good product to buy right now.

I wasn't going to retroactively time the mortage market. I graduated from undergrad in 2008. I already knew the market had crashed in 2009-2010. If I would have gone to law school then, I would have already graduated and getting close to buying a house right now. :).

User avatar
redsox
Posts: 612
Joined: Mon Jun 08, 2009 1:40 pm

Re: Is graduating at 29 to old?

Postby redsox » Mon Oct 14, 2013 1:22 am

bizzybone1313 wrote:To you peeps in Big Law, I would look into UYG. That is making me a killing right now.


...

bizzybone1313 wrote:UYG is pretty dangerous. I completly agree. I got in when it was very low. It probably isn't a good product to buy right now.

User avatar
bizzybone1313
Posts: 996
Joined: Wed Jul 11, 2012 4:31 pm

Re: Is graduating at 29 to old?

Postby bizzybone1313 » Mon Oct 14, 2013 1:26 am

redsox wrote:
bizzybone1313 wrote:To you peeps in Big Law, I would look into UYG. That is making me a killing right now.


...

bizzybone1313 wrote:UYG is pretty dangerous. I completly agree. I got in when it was very low. It probably isn't a good product to buy right now.


I am up about $7-$8K on UYG. So, it has been great for me. A small percentage of one's portfolio in risky equities isn't a bad thing. UYG was an excellent buy about 2 years ago. Right now, it is maybe an OK buy.

User avatar
redsox
Posts: 612
Joined: Mon Jun 08, 2009 1:40 pm

Re: Is graduating at 29 to old?

Postby redsox » Mon Oct 14, 2013 1:33 am

bizzybone1313 wrote:
redsox wrote:
bizzybone1313 wrote:To you peeps in Big Law, I would look into UYG. That is making me a killing right now.


...

bizzybone1313 wrote:UYG is pretty dangerous. I completly agree. I got in when it was very low. It probably isn't a good product to buy right now.


I am up about $7-$8K on UYG. So, it has been great for me. A small percentage of one's portfolio in risky equities isn't a bad thing. UYG was an excellent buy about 2 years ago. Right now, it is maybe an OK buy.


What are we supposed to do, average the contradictory statements you make to get your actual opinion?

("It's making a killing right now."+"It probably isn't a good product to buy right now")/2 = "Right now, it is maybe an OK buy."

Tell me, why was it an excellent buy two years ago?

User avatar
bizzybone1313
Posts: 996
Joined: Wed Jul 11, 2012 4:31 pm

Re: Is graduating at 29 to old?

Postby bizzybone1313 » Mon Oct 14, 2013 1:36 am

redsox wrote:
bizzybone1313 wrote:
redsox wrote:
bizzybone1313 wrote:To you peeps in Big Law, I would look into UYG. That is making me a killing right now.


...

bizzybone1313 wrote:UYG is pretty dangerous. I completly agree. I got in when it was very low. It probably isn't a good product to buy right now.


I am up about $7-$8K on UYG. So, it has been great for me. A small percentage of one's portfolio in risky equities isn't a bad thing. UYG was an excellent buy about 2 years ago. Right now, it is maybe an OK buy.


What are we supposed to do, average the contradictory statements you make to get your actual opinion?

("It's making a killing right now."+"It probably isn't a good product to buy right now")/2 = "Right now, it is maybe an OK buy."

Tell me, why was it an excellent buy two years ago?


I just didn't want to argue with you, so I choose to contradict myself in the second statement with the hope that you wouldn't say anything. I guess this plan backfired on me.

User avatar
typ3
Posts: 1362
Joined: Sun Feb 28, 2010 12:04 am

Re: Is graduating at 29 to old?

Postby typ3 » Mon Oct 14, 2013 1:48 am

Just lever up on etoro with a bunch of high risk traders.

Get lucky and weather the storm for a year.

Profit?

User avatar
Magical Trevor
Posts: 147
Joined: Tue Mar 12, 2013 11:10 pm

Re: Is graduating at 29 to old?

Postby Magical Trevor » Mon Oct 14, 2013 2:52 am

bizzybone1313 wrote:I just didn't want to argue with you, so I choose to contradict myself in the second statement with the hope that you wouldn't say anything. I guess this plan backfired on me.


You are on a website for people that want to go to law school. People here tend to over analyze everything and jump at chances to show off their mad reading comprehension skills. What could ever give you the hope that you wouldn't be called out on a contradiction, much less saying "some" when you meant "many"?

User avatar
withoutapaddle
Posts: 451
Joined: Thu Oct 03, 2013 3:29 pm

Re: Is graduating at 29 to old?

Postby withoutapaddle » Tue Oct 15, 2013 6:26 pm

So I did some of my own reading. I didn't realize the job market was as bad as it is. I have a friend that just graduated from Harvard and he said he was basically lucky to get a job in Pittsburgh. He was also on Law review .

Maybe it's not worth going 250k in debt for a coin flip chance of getting a job. I'm sure most go to law school thinking they'll finish top 10%.

Idk it does seem like a big economic risk.

Finally see why everyone says T-14 or bust

User avatar
nickb285
Posts: 1500
Joined: Mon Jul 16, 2012 4:25 pm

Re: Is graduating at 29 to old?

Postby nickb285 » Fri Oct 18, 2013 1:12 pm

This thread reminds me of hearing college sophomores talk about how they're "ZOMG, so old now!"

Will you be able to buy a house before 30 if you graduate law school at 29? Probably not. Will you be able to buy a house before 30 if you graduate law school at 26? Likely not. And that's okay. Not everything has to be done by 30.

The only reason I'd advise going to school with an expected graduating age of 29 is if you're dead set on having kids by 30, but I'd also advise against going to law school with an expected graduation age of 25 if that's the case.

If your goal is to work as an attorney, and you can get into a good school for a good price (both of those variables will vary according to your goals), then graduating at 26 versus 29 means basically nothing. If you don't want to work as an attorney, and you can't meet the good school/good price intersection, then don't go, no matter what age you're graduating at.




Return to “Law School FAQ”

Who is online

Users browsing this forum: thxrho and 3 guests