« on: June 14, 2008, 01:15:20 AM »
Nothing is worth this much debt. Period. I do a good deal of investing and I could take 200k, get margin turn that into 400k, and as long as I earn better than 5% I am in the clear (some stocks offer dividends alone of 7%). I have no idea why anyone would do this. I wouldn't be 200k in debt to go mars. You have one life to live, even if you land a great highpaying job, your hours suck. Of course, the people who start this path say, well I will start at 160k-200k a year and i can get rid of the debt in no time and be making bank. Hmmm
Have any of you heard of the AMT, it was a great creation by the IRS, your 160k, not eligble for any deductables, and then you ship 35% a year away to federal, not to mention state and if you live in new york, city taxes. After living expenses I would be impressed if you could put away 50k a year. If you can get into a great school, go to one a little lower ranked thats basically free. Thats what I am doing and couldn't be happier.