patrick.net

DON'T GO TO COLLEGE

Unless it's Engineering, Nursing, Accounting, etc.

At 17/18, get a trade. With a few years experience, you do side jobs until the side jobs turn into working for yourself, then you have so much work you hire people.

When most 21-22 year olds have $80k in debt and a degree that gets them an extra couple of bucks/hour doing White Collar bullshit, you'll have made $100k easy and long since paid off the $6-15k of trade school debt.

Rin says

If I were to 'do it' again, I'd get a job with the State of Massachusetts, not to make a fortune but to 'make a living' capped at 40 hrs per week. In other words, unlike much of the corporate world, the standard 45-60+ hr work week isn't required for a State a/o union job.

Then, I'd use the rest of my time to do algorithmic trading and thus, build my wealth w/o needing a corporate job & its so-called retirement perks like restricted stock, etc, while killing myself 5 to 6 days per week.

Yep, a good government job is worth it's weight in gold. A no stress, pensioned and 40 hour government job has many benefits. I cannot stand any government worker. Sorry but, imo, they are the blood sucking class.

Someone is using the same trick I used during the housing crash. I had 4 CC at $20-$27k limit each.

Deposited $40k in the joint account. Bought the condo for $150k with 25% down and financed 75% with wife’s credit. I didn’t have a job. Borrowing was extremely difficult for self-employed people back then too.

After 6 months of seasoning, cash-out refinance, payoff the first loan and payoff the CC with the excess proceeds. Rinse and repeat a couple deals each year. Then a Patnet member came into my life, and I was able to do 4-5 deals each year. 50% of something is better than 100% of nothing.

that was a good time to buy. in retrospect once in a lifetime opportunity.

What is the name of this credit card and is this deal still offered?

Haven't seen anything below 4% for months now. Many are 5%. The last 3%er supercheck I cashed in mid last year. During the zirp years there were even a few 0%ers. I doubt you can get am offer with less than 4% fee these days

It would seem like this is a money losing proposition for the Credit Union, unless they see rates going up in the near future.

Got a similar offer from my CU, but it’s only for kids and new accounts. They offered 5.5% interest for the savings.

College used to be a two-fer for guys - get a marketable degree, and wallow in "high quality" coed pussy until you got it out of your system. Nowadays, no pussy, bullshit majors. Yeah, with trades you just get the occasional MILF or random cold approach, unless family business dynamics can elevate your SMV status (e.g. courting the boss's daughter with his permission).

I previously told my son this (he's 15) a few years ago. I think it worked like reverse psychology - now he's busting his ass to get good enough grades for college. Go figure.

mell says

Haven't seen anything below 4% for months now. Many are 5%. The last 3%er supercheck I cashed in mid last year. During the zirp years there were even a few 0%ers. I doubt you can get am offer with less than 4% fee these days

A local Credit Union here has made an offer to convert any CDs on hand to a one year 5% with no penalty for early termination of the converted CDs. That is. if I have a 3.5% CD with them that still has months left on the term, they will close it without early termination penalty and put the proceeds into a new one year 5% CD. It would seem like this is a money losing proposition for the Credit Union, unless they see rates going up in the near future.

If they can use the money as long as it is in your CD with interest at maturity they will benefit from a higher (sweep) cash position.