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Author Topic: 150K -200K Debt Club...Anyone?  (Read 9511 times)

vjm

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Re: 150K -200K Debt Club...Anyone?
« Reply #30 on: June 13, 2008, 09:31:50 PM »
Don't Question Me= wiimote??

js.

boilerguy84

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Re: 150K -200K Debt Club...Anyone?
« Reply #31 on: June 13, 2008, 09:48:50 PM »
well, i THOUGHT i would be in that club..but i wound up with 36k in scholarships..so now i'll fall right around 140k. so now it's just chump change. ::) it'll be worth the debt in the long run.
"read a book."
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Luxhx77

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Re: 150K -200K Debt Club...Anyone?
« Reply #32 on: June 13, 2008, 10:15:43 PM »
That is a scary amount of debt... Here I am stressing about possibly having 20k of debt out of law school...

But who knows... if inflation keeps going the way it is, janitors could be making 200k a year and you will be sooooo in the clear.

highhopes967

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Re: 150K -200K Debt Club...Anyone?
« Reply #33 on: June 14, 2008, 03:15:20 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.

Ninja1

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Re: 150K -200K Debt Club...Anyone?
« Reply #34 on: June 14, 2008, 01:55:39 PM »
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.

I don't want to be anywhere near the market right now. I'll gladly plunk down a few years worth of salary to make, easily, twice as much as I otherwise would have over the course of my life. Like you said, I only have one life, and I'll be damned if I spend it competing with high school graduates for anything.
I'mma stay bumpin' till I bump my head on my tomb.

DontQuestionMe

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Re: 150K -200K Debt Club...Anyone?
« Reply #35 on: June 14, 2008, 02:24:02 PM »
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.

I don't want to be anywhere near the market right now. I'll gladly plunk down a few years worth of salary to make, easily, twice as much as I otherwise would have over the course of my life. Like you said, I only have one life, and I'll be damned if I spend it competing with high school graduates for anything.

Good, you can compete with philosophy majors and unemployed lawyers for pizza delivery jobs. You know what I enjoy the most about you? Knowing how miserable you are going to be for rest of your life, with a ton of debt you can't payoff.  ;D

Ninja1

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Re: 150K -200K Debt Club...Anyone?
« Reply #36 on: June 14, 2008, 02:40:38 PM »
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.

I don't want to be anywhere near the market right now. I'll gladly plunk down a few years worth of salary to make, easily, twice as much as I otherwise would have over the course of my life. Like you said, I only have one life, and I'll be damned if I spend it competing with high school graduates for anything.

Good, you can compete with philosophy majors and unemployed lawyers for pizza delivery jobs. You know what I enjoy the most about you? Knowing how miserable you are going to be for rest of your life, with a ton of debt you can't payoff.  ;D

Seriously, what is wrong with you? Do you ever actually contribute anything meaningful to the conversation? At best, you have lots of misinformation (see above) to spew, but that's about it.
I'mma stay bumpin' till I bump my head on my tomb.

sinkfloridasink

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Re: 150K -200K Debt Club...Anyone?
« Reply #37 on: June 14, 2008, 02:50:17 PM »
I'll be close. Depending on what happens with tuition and such over the next 3 years, I'll wrap up with somewhere between $100-140k in debt. Small price to pay to be a Seminole. ;)

And you called me an idiot.

As a UF alum, I lol'd.
Tulane c/o 2011

Ninja1

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Re: 150K -200K Debt Club...Anyone?
« Reply #38 on: June 14, 2008, 04:04:31 PM »
I'll be close. Depending on what happens with tuition and such over the next 3 years, I'll wrap up with somewhere between $100-140k in debt. Small price to pay to be a Seminole. ;)

And you called me an idiot.

As a UF alum, I lol'd.

:)
I'mma stay bumpin' till I bump my head on my tomb.

DontQuestionMe

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Re: 150K -200K Debt Club...Anyone?
« Reply #39 on: June 14, 2008, 05:06:15 PM »
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.

I don't want to be anywhere near the market right now. I'll gladly plunk down a few years worth of salary to make, easily, twice as much as I otherwise would have over the course of my life. Like you said, I only have one life, and I'll be damned if I spend it competing with high school graduates for anything.

Good, you can compete with philosophy majors and unemployed lawyers for pizza delivery jobs. You know what I enjoy the most about you? Knowing how miserable you are going to be for rest of your life, with a ton of debt you can't payoff.  ;D

Seriously, what is wrong with you? Do you ever actually contribute anything meaningful to the conversation? At best, you have lots of misinformation (see above) to spew, but that's about it.

How do you respond so quickly to my posts? This is summer before 1L. Don't you have any recreational hobbies? What about a GF?  :o