totesTheGoat wrote:
Weird, but i'll go along with it. How much do you plan on paying your parents annually in their retirement?
Likely around 1k a month at least. Likely until they pass.
And that is just one parent. The other I will probably have to just abandon.
- Enjoy life (have a vacation every now and then)
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totesTheGoat wrote:
In my experience, "having a vacation every now and then" is usually not what's meant when people want to "enjoy life". How many vacations, how often, how expensive? What else are you looping into "enjoying life" that is unstated in your flippant post?
Being able to eat out. Living in a decent home. Having 1 to 2 vacations a year thar involve actually leaving more than 20 miles from my home.
If I cant do that, there isn't much of a point in living is there? You are right that law school would be a bad investment if it can't do that. An investment in a few feet of rope would be better.
As it stands I am going to have to convince my fiance to accept a lifestyle change from a family that has porsches and ashton martins. If I cant at least have a life outside of working - which requires unthinkable amounts of money - its better to call it a game and quit.
totesTheGoat wrote:
Hate to break it to you, but a paycheck won't change your emotions. It's just as easy to blow through $180k as it is to blow through $35k if you're not paying attention to your finances.
I'm sorry, but unless you already come from wealth, I don't really see how that is true. I've seen the big law lawyers here whine about thwir budgets, and its true that if they have 200k of debt thats pretty depressing. But lots of these people are spending 3k a MONTH on car expenses, 1.5k on "fun' stuff like vacations etc. It's pretty clear those people dont what not having money is like if they blow through BMW level expenses without thinking about it.
totesTheGoat wrote:
Some of the brokest people I know make 6 figures. Some of the most financially secure people I know have never made above $60k. I've seen single moms making $35k pay off their cars and their mortgage. I've seen families making $250k get their electric shut off.
None of those people have their electrix shut off because of high incomes. And please lets not kids ourselves - those are the exception. The vast majority of people having their electric shitoff are the single moms who a single, big expense they can't payoff like a medical expense. Those single moms may be able to payoff the mortgage on their 800 sq ft home, but what happens if they get cancer? They, and their children, will starve
totesTheGoat wrote:Even though your stats are good, you shouldn't go to law school right now. Your mindset is wrong, and you will end up with a poor outcome because of it. The single worst way to approach law school is out of desperation. That's how you make poor decisions. That's how you end up working 85 hours a week at a legal job you hate, wishing that you were at your abjectly horrible sales job again.
If I am going to spend the rest of my life making 35k with a max cap of 40-43k, I am not even going to bother with starting a family. I could not provide them a life worth living.
totesTheGoat wrote:get your financial house in order. I don't know (or care) what you make currently, but there are people making it on less than you. Usually they don't have car payments, they don't buy a bunch of frivolous crap, they don't eat out very often, and they track their money to the penny to make sure it is being spent on their priorities, and not on their whims.
It is in order, my anxiety is over future expenses and the desire to live life, which of course, is not possible at my current job. I am not currently at risk of homelessness and have very little debt
totesTheGoat wrote:start planning your exit from your current job. I'm not you, so I can't tell you what field to work in, but there are 100 million people out there with 100 million jobs.. i'm sure you can find one that you're qualified for. From oil and gas to software development, there's a vast spectrum of jobs available to you. Your long term exit plan can be law school if you're genuinely interested in law, but you need to get the stench of desperation off of you before you can make a sober decision about law school. If I were you, id work a different job for a year or two before making a final decision on law school.
I have applied to over 300 jobs the padt few weeks, and have not received any interest from any job that offers better pay r benefits. Not one. And they have ALL been sales positions.
My college degree is utterly worthless and honestly, probably more of a negative. It qualifies me for nothing. All evidence points to firther education (not neccesairly law school) if i am to be anything in life other than broke.
totesTheGoat wrote:
3) you need a shift in mindset. The first two things I noticed when I read your post are that you're acting like a victim and you're acting desperate. Both of those mindsets are fatally toxic when you're trying to build a career path. Rather than compounding your poor decision making thus far, approach your present crisis from a new mindset. Research the hell out of your options, weigh costs and benefits. Determine a course of action that shuts the fewest doors financially, career path-wise, etc.
I have done exactly that. The costs if not ourauing further is extreme.
totesTheGoat wrote:
4) Evaluate your obligation to fund your parents' retirement. Perhaps this is a cultural difference, but I would balk if my parents expected me to help them retire. Saving for retirement was their responsibility, and my finances have been separate from theirs since I graduated high school. For your parents to burden you with paying for their retirement while you're broke seems very selfish to me.
They were unable to save for retirement because of unpredictable financial desires. They do not waste money on cars or luxuries. Divorce, health problems, and the 2008 recession devastated all of their savings.
Do you know what it is like to look your parents in the eye and tell them, I have to let you live in the streets?