advice for 20 year old?

[LibForestPaul]

The future is in the underground economy.

The aboveground economy will be taxed, regulated, and currency-shocked to death. The only place in the aboveground economy where a decent living might be had is in the government - and even that is doomed.

Think about what real people will REALLY need OFF THE RECORD and learn how to provide it. Real people are not going to need lawyers (I am one, by the way) or engineers, or CPAs or systems analysts, or management consultants, or investment bankers, etc.

Ditto and Ditto to past posts.

They will need security...The top 5% will spend alot to keep their stuff theirs. Not to mention the flip side "security" in quotes ...

 

[LibForestPaul]

I couldn't agree with the bolded section more.

Recipe for success: 2 parts hard work, 1 part thought work

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Pie in the sky thinking. People think they can achieve alone, you can't. The system is setup against you. I am sure many Russian Ph.D in Physics, EE, and other fields thought the same.

I repeat
engineering is dead! (My profession)
lawyers are a dime a dozen (from what I have read, since I was thinking of switching)
doctors are on their way out (from friends who were told by doctors it might be better elsewhere) and my personal belief, since National Healthcare is coming.

Money will be in government, quasi-government, banking, and certain health care professions.

 

[MelissaWV]

.

Pie in the sky thinking. People think they can achieve alone, you can't. The system is setup against you. I am sure many Russian Ph.D in Physics, EE, and other fields thought the same.

I repeat
engineering is dead! (My profession)
lawyers are a dime a dozen (from what I have read, since I was thinking of switching)
doctors are on their way out (from friends who were told by doctors it might be better elsewhere) and my personal belief, since National Healthcare is coming.

Money will be in government, quasi-government, banking, and certain health care professions.

Documentation and litigation-prevention are still winners

 

[Baptist]

/bump because I'm interested in other people's opinions on college degrees/jobs.


Mel WV, are you going to become a Canadian citizen? If so how long is the process? Why Canada over U.S.? Just curious because for the past few years I've been checking out other countries because we may bail the U.S.

 

[MelissaWV]

/bump because I'm interested in other people's opinions on college degrees/jobs.


Mel WV, are you going to become a Canadian citizen? If so how long is the process? Why Canada over U.S.? Just curious because for the past few years I've been checking out other countries because we may bail the U.S.

I am probably going to end up becoming a citizen, barring some sort of really strange fluke. The process is a little different for me, because I have someone who's sponsoring me into the country, significant savings, and various jobs. You can go on their website and fill out the questionnaire they have to let you know what your chances are.

The total process takes a few years, but you can be a permanent resident before that, and prior to that as an American visiting you can spend 6 months there with no real problems, or you can get a work permit.

http://www.cic.gc.ca/EnGLIsh/citizenship/become-eligibility.asp

http://www.cic.gc.ca/english/immigrate/index.asp

I had already fallen in love with Toronto and its proximity to family members in Buffalo, plus the employment opportunities in the area. The weather is delightful (to me, at least; I love seasons!) and it's a big city with fewer "big city problems" than some of the others I considered. Once I'd decided on Toronto, I happened to meet a really great guy who was living there, and all the pieces fell into place

Thankfully, being a self-employed person in an area of "cultural activities" qualifies me to come in under that category, even if my boyfriend dumps me tomorrow.

http://www.cic.gc.ca/english/immigrate/business/self-employed/apply-who.asp

 

[Jordan]

.

Pie in the sky thinking. People think they can achieve alone, you can't. The system is setup against you. I am sure many Russian Ph.D in Physics, EE, and other fields thought the same.

I repeat
engineering is dead! (My profession)
lawyers are a dime a dozen (from what I have read, since I was thinking of switching)
doctors are on their way out (from friends who were told by doctors it might be better elsewhere) and my personal belief, since National Healthcare is coming.

Money will be in government, quasi-government, banking, and certain health care professions.

Go ahead and give up then. Makes no difference to me.

 

[Acala]

Oaky

My point is that you won't be able to get to this point in life if you don't go to college.

My own experience is as follows: I worked whenever I could from the time I was sixteen. Then, when I graduated High School I went to the University. After bouncing around from one major to another, I got a degree in Psychology. It was a total waste. Thousands of dollars down the drain and I literally ended up digging ditches.

So I went back to college and got my degree in chemistry. That got me out of the ditches and into an air conditioned building, but I was still making substantially LESS than I had been making years earlier as an odd job guy for a construction contractor.

Read that over. TWO colleege degrees, one in a technical field, and I was making less than I had made as a flunky for a construction company.

It wasn't until I went back AGAIN and had finished law school that I made more than I did as a kid in construction. And that is plain fact. And here is some speculation to go on top of it. I worked my ass off at that construction job and was smarter than most of the guys in the company. So I would have moved up and made plenty. No doubt in my mind. Would I have made as much as I ended up making at the mega law firm in Los Angeles? On an hourly basis- yup.

Another fact: there are tons of college grads who do not use their degrees. And there were tons of lawyers I knew who could not find jobs as lawyers.

And here is some more speculation: everything that is true about the economy and job market today is not going to be true ten years from now.

Ever read the book "The Millionaire Next Door"? The typical self-made millionaire isn't the college-educated guy. It is the guy who learned a trade, started his own business, and made it work.

You have your mind set on a college degree. Fine. I understand. But it is a path fraught with peril. You would be wise to listen to some people who have been through it and some people who have studied the results statistically. Universities are busy raising their fees as we speak. It will cost you a small fortune to get your piece of paper. Be real, REAL certain that it is a sensible investment.

And while I agree that inflation is going to eat us alive, don't discount the possibility that the government will protect the banks by indexing outstanding loans to inflation. Remember who your Congressman cares about. (hint: it isn't you).

If you really expect flight to another country to be an option, pick the country now and learn the language while you are in school.

Enough from me.

Good luck

Edit: all that edumacation and I spelled "okay" wrong! Ahahahaha! You should ignore everything I say!

 

[Blueskies]

It wasn't until I went back AGAIN and had finished law school that I made more than I did as a kid in construction. And that is plain fact. And here is some speculation to go on top of it. I worked my ass off at that construction job and was smarter than most of the guys in the company. So I would have moved up and made plenty. No doubt in my mind. Would I have made as much as I ended up making at the mega law firm in Los Angeles? On an hourly basis- yup.

Nah, you'd probably be unemployed. Do you know how construction companies are doing right now?

When did you work construction? During the bubble 2002-2007? Its not surprising that you made a lot.

I had a family member who started a home construction company around 2000. Was a millionaire by 2004. Now completely bankrupt, 30 employees gone and company no longer in existence.

Ever read the book "The Millionaire Next Door"? The typical self-made millionaire isn't the college-educated guy. It is the guy who learned a trade, started his own business, and made it work.

How many people are capable of being an entrepreneur? Not a lot, probably less than 5% of the population. I know people who run small businesses. It's a lot of hardwork, there are no set hours, there is no guaranteed paycheck. It's not for most people. If you happen to be in that 5%, good for you. Go for it and don't look back. But throwing out the advice "start your own business" to everyone is idiotic because the vast majority of people just aren't capable of doing it.

You have your mind set on a college degree. Fine. I understand. But it is a path fraught with peril. You would be wise to listen to some people who have been through it and some people who have studied the results statistically. Universities are busy raising their fees as we speak. It will cost you a small fortune to get your piece of paper. Be real, REAL certain that it is a sensible investment.

I'm actually not paying a dime for my college education because I'm a good student and I know what I'm doing. It's not that hard to get other people to pay for your college if you have the grades. The only thing I pay for is room and board, which I afford with my part time job at a restaurant. I'm going to graduate without a cent of debt.

If I didn't go to college I don't know what I'd be doing. I'd probably be doing what all my other friends that didn't go to college are doing--working dead end jobs at fine companies like White Castle, Target, and 7-11 and living with my parents. I think I'll pass.

EDIT: I'm also not getting a joke degree like psychology. Seriously lol. You can't do a damn thing with that degree unless you go to grad school. The best case scenario with a bachelor's of psych is to work in some government clinic for $20k a year.

 

[Acala]

ol

Nah, you'd probably be unemployed. Do you know how construction companies are doing right now?.

Badly. But don't think they are the only ones who are going to eat it.

When did you work construction? During the bubble 2002-2007? Its not surprising that you made a lot..

Lol! 1974-1975. Commercial construction. And, by the way, that was a recession.

I'm actually not paying a dime for my college education because I'm a good student and I know what I'm doing. It's not that hard to get other people to pay for your college if you have the grades. The only thing I pay for is room and board, which I afford with my part time job at a restaurant. I'm going to graduate without a cent of debt...

Sounds like you know what you are doing. I hope it works out for you.

If I didn't go to college I don't know what I'd be doing. I'd probably be doing what all my other friends that didn't go to college are doing--working dead end jobs at fine companies like White Castle, Target, and 7-11 and living with my parents. I think I'll pass....

Lots of paths other than college and burger flipping. But you have your mind made up so have at it and best of luck.

EDIT: I'm also not getting a joke degree like psychology. Seriously lol. You can't do a damn thing with that degree unless you go to grad school. The best case scenario with a bachelor's of psych is to work in some government clinic for $20k a year.

Yup. Or digging ditches. Been there.

Just a word of caution for you, my confident friend. Accounting will be a joke degree too, when there are no bones to count. Remember old Acala told you so.