What's the worst financial decision you've ever made?
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Yeah I've always wanted to fly ever since I was a kid, im the maintenance side of the industry too. I've looked into it im just afraid of the FAA wont approve my ratings cause of my run in with the law (dui) and couple small traffic tickets 5-6 years ago, havent got any run ins with the law since, by the time i get commercial ratings itll be 7-8 years, hopefully they look past it. I looked into it 70-80k in loans with a 40k out of school salary, not too bad.
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Both of these are terrible decisions . 100K in debt for $19/hr - $29/hr BEFORE taxes and benefits , your whylin .
Security guards with hs diplomas make $20/hr around here .
Keep your student loan debts low people .
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NICE you got the funding congrats manTHIS!!! If becoming a pilot is your dream you should pursue that! It will be worth it in the end. You have to live for yourself and not anyone else. Do what makes you happy
Money comes and goes... But if you don't seize these opportunities and chase your dreams you'll end up stuck at a boring desk job, browsing NT, and doing the same old thing every day for the next 40 years wondering, "what if I decided to take that risk and become a pilot?" Man up and take control of your destiny.
Take it from me. I've made some very risky financial decisions in the past 6 months. Some of these may end up being the worst financial decisions I've ever made. But for now, I'm doing alright.
-I maxed out a $15k credit card in December in order to start my own company when no one believed in the company/wouldn't invest in the cannabis industry. It was scary as hell knowing I dug myself in a hole that deep. Had lots of nights where I thought I may have made a huge mistake, but I believed in myself and kept pushing. 6 months later I currently have 0 credit card debt and my credit score has recovered.
-I worked on my company a little bit every night when I got home from my day job and it got to the point were it became very real and I couldn't balance two jobs any more. I resigned from my $80k day job (GS-12 with federal government) two months ago. I'm currently unemployed.
-My company made it's public debut two months ago and we have a lot of traction. But, we still aren't open yet. We're just in the marketing phase and building out our location.
-I took out a $40k personal loan from my friend about a month ago to use as the company's working capital. Again, he wouldn't invest directly in the company because of the industry I am in but he was willing to give me the personal loan. It went straight from my bank account into the company's account. I now owe my best friend $40k under a legal contract, which I had to pay his lawyers to write up
-That $40k allowed me to keep things moving with the business and at this point, people who doubted me at first have seen this come to fruition. Those who were hesitant about investing, are now throwing money at me. They already missed out though. I used about $25k of that money to obtain financing from a national equipment financing & business working capital company. This company did $15M in cannabis loans last year and they have already done $20M in the first quarter of this year. I now have over $100k worth of lab equipment that will hopefully be paid off in the next four years. I'll be paying roughly $35k in interest over those 4 years, but, I kept my equity in the company.
-I'm 27 and in the past 6 months I just founded my own company in the fastest-growing industry in the US, on my own. I have one partner and we are 50/50 owners. I'm still $40k in debt to my best friend, and that has the potential to ruin our friendship. I went from having a good, safe job with a nice paycheck and good benefits to being unemployed for a few months. Almost lost my girlfriend multiple times because I'd come home from my day job and work on my company until I passed out from exhaustion. I've barely seen any friends or family during this time and have kept this a secret from most of them. I just told my parents what I've been up to all this time this past Sunday.
-Success doesn't come easy, no risk no reward. I'm the happiest I've ever been in my life and optimistic about my future. But I won't front... There are nights when I think to myself, "what have I gotten myself into here?" and sometimes it feels crazy. But those are the feelings that keep me motivated and determined to be successful.
Long story short, never work for a paycheck. Don't be like everyone else. Find what you love and find a way to get paid doing it. We aren't meant to be stuck in cubicles 8 hours a day. I'm never going back to that life.
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My friend just graduated law school with $213k student loan debt, will be starting a job with $61k salary
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I had an opportunity to buy a house back in 2010 house was brand new for 130k.
I paid more in rent in the 5 years before I bought my house than the mortgage would have been.
That same house is selling 7 years later for 275
I paid more in rent in the 5 years before I bought my house than the mortgage would have been.
That same house is selling 7 years later for 275
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Getting in trouble with the law. Wasted a lot of money and time. Set me back years.
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The money is one thing but the time, holy **** the time wasted is ridiculous
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Playing craps at the casino biweekly for pretty much a year straight
buying expensive bottles in the club, thinking it impresses the yambz
buying expensive bottles in the club, thinking it impresses the yambz
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Hennessy, you made 80k at your previous job. You didn't save any money from that or was that money tied up for other stuff/rainy day fund?
I commend you on taking this leap of faith. It's not easy leaving something that's comfortable like you said to chase your dream. How does your girl feel about the whole thing ?
Deep down I wanna do the same thing and keep going back and forth about things...
I commend you on taking this leap of faith. It's not easy leaving something that's comfortable like you said to chase your dream. How does your girl feel about the whole thing ?
Deep down I wanna do the same thing and keep going back and forth about things...
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losing 14k in vegas last june 
was up 7k
then lost 14k in my last hour in vegas
was a quiet long plane ride home
was up 7k
then lost 14k in my last hour in vegas
was a quiet long plane ride home
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Got to have a back bone.
Went to the strip club a while back and paid shorty a dub for 1 dance. After several dances, prolly 4 or so, she tries to hit me with the "you owe me some money"
Hit her with the naw. Can't eem do it. She laughed, and asked for my #......jusayin
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And that security guard is prob maxed out at $20/hr for the rest of his life. Whereas a degree holding professional is only going to continue getting paid more and more.
As I already mentioned in another post, no student loans > having student loans, but it is all a risk vs. reward scenario. The main point of my post you quoted was to not go to college / take out student loans for stupid majors that have little chance at securing a legit career. Art History, Psychology, Teaching even... all of those majors are not worth the degree (specifically the cost of obtaining a degree) in most cases, as there are limited jobs prospects upon graduation and the jobs that are available - don't pay that well.
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Please let people know man.
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I would only advise ppl to go to college if you legit interested in getiing a STEM degree or already know you pursuing an MBA....Its too expensive these days to be getting any random type of degree, you better off just starting work right outta high school or getting a trade/skills for MUCH cheaper...you can spend just a couple stacks to become certified as dental assistant or electrician and make good money in your 20's in most places ...or even get some IT certs and flourish
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Like I mentioned - it is better to have a conversations with these kids or anyone considering college etc. and address these things rather than being bitter and resentful old *** people.
There ain't no way college isn't worth it.You just have to be smart about it.
There ain't no way college isn't worth it.You just have to be smart about it.
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Not sure if this was sarcasm or not, but I'll quit commenting on the subject.
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What if someone legitimately wants to become a teacher or something? Tough to do without at least a Bachelor.
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I was speaking more so in terms of the financial/money aspect of going to college, you gotta think about how much you can make when u done...but by all means if you have a dream or a passion follow thru with that, i know its kids growing up who's dreams are being a teacher or an artist or something where the money doesn't really matter...on the real tho the education system is so messed up in some places that they got teachers without all the proper credentials teaching whole school years sometimes too tho
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legal fees aint no joke.Legal fees
But i had that lawyer money stacked [emoji]128526[/emoji]
lawyers love the number 10,000.
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Youre not lying. They just add zeros at will smh
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I was being serious
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Boutta blow $1,000 on strippers in Vegas for my homeboy whose girl just broke up with him. I've never actually made it rain so this shall be exciting lol
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Lol as if security guards are capped at $20/hr (like they don't get plenty of OT opp) and can't ever move up or move on to becoming cops . I work with security guards right now making 60K
No way you try to flip it is a $19/hr ENTRY level job worth 100K in student loans . Govt has yal brainwashed and imma just leave it at that .
I'm not anti college , but I am anti high student loans with a terrible ROI. $1100 paychecks but paying $800/mo in student loans
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