What's the worst financial decision you've ever made?

 
Without a degree one might be working at McDonald's. Sometimes loans are worth it.
Yup no degree = minimum wage
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 I don't have a degree.... I am doing well. 
 
@Hennessy
:Nthat

Where are you from?

NY/DC

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 have over $50k saved in the bank and obviously more cash stashed away but if I can get someone else to lend me money with a low interest rate and not ask for any equity, I would rather take the financing and pay more in interest over the next few years then put my entire net worth into this business. But yeah, I've been living paycheck to paycheck because after paying bills, all my money goes into the business.

My girl has been a huge support through the whole thing. I wasn't doing any of this when we started dating, she didn't sign up for the neglect I put her through this past year, but she believes in me more than anyone and has stuck with me. I'm glad I found a girl who loves me for me and not what I do/what I have. Everyone wants to be a part of your life when your successful, but she was one of my only friends and biggest support through the beginning stages when this was nothing more than an idea.
 
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I'm not paying attention to what anyone is saying ? He literally said this and if you read the prior post I quoted he claimed security guards are capped at $20/hr and can't make any moves forward 

The difference of $7/hr....
Again, you're focusing on the minor details instead of the general point I was trying to make.  Don't go to college and take out loans for a stupid degree, that won't guarantee you a well paying job out of college. 

The $100k itself was just a random number, it wasn't meant to be some exact cutoff of when student loans are worth it versus not worth it.  Nor was the $40k-60k range of entry level salaries, which could be completely skewed by cost of living / location.  Nor was the degree in "Underwater Basket Weaving", which was obviously a joke.  The point, again, was to know what the risk versus reward is of college before getting into massive debt.
 
My friend just graduated law school with $213k student loan debt, will be starting a job with $61k salary

Not surprising. The lawyer profession has been over saturated for years.

However, there's a slew of career options that comes with a law degree besides practicing law.
 
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Probably all the money I spent on trading cards and hobbies growing up, which was roughly around $1k-1.5k.

As for the cards, some of them like Pokémon/YuGiOh cards I could actually play with, but the sports cards you can only look at. To be fair, there wasn't much else to spend money on as a kid.

I keep telling myself that I'll catalogue and sell the sports cards I have since I've got some rare stuff. The whole process of having cards graded to selling them, plus my doubts about the card collecting market as a whole are why I haven't though.
 
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Most people I know who don't have degrees who make six figures either own their own business or are in sales of some sort.

Most are in sales though.

Nothing wrong with it. Just something I have noticed.
 
Please understand that yall dudes with no degrees who are making alot of money are outliers.

For every one person that is making $100k with no degree there are hundreds of thousands who arent. While it is possible it's definitely not the norm.

The reality is that not having a degree severly limits your career opportunities and we need to stop downplaying that fact.
 
Please understand that yall dudes with no degrees who are making alot of money are outliers.

For every one person that is making $100k with no degree there are hundreds of thousands who arent. While it is possible it's definitely not the norm.

The reality is that not having a degree severly limits your career opportunities and we need to stop downplaying that fact.
This.

There are people who hold the same position as I do without a degree. The difference?

They are 5-10 years older than I am, and are a lot more dependent on their employer.
 
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The reality is that not having a degree plan and severely limits your career opportunities and we need to stop downplaying that fact.

fixed for you bro.

My experience has taught me that for some, a degree (and the effort/money/time in obtaining one) is simply not worth it. But having a degree certainly won't put you behind (unless you're one of the ones I mentioned in the previous sentence), and more often gives one more options.

In my old age (34) I've come full circle from believing you could do anything with a college degree(18-24) to thinking degrees are worthless (25-33) to thinking that a degree is probably a good thing for most people to have. The biggest issue now is the cost. Once upon a time it wasn't as much as opportunity cost compared to a getting a degree now.
 
I heard that if you got good support (place to stay) you should take out a private loan after a few years to replace your student loans and than declare bankruptcy so they can't come after you for those loans ..
 
Gotta get in where you fit in.....

At the end its all about doing what you love in life and generating income from it.

The tools and paths used are up to you.
 
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