I'm only 26 but I think I will fit right in

[wildcat]

Donner -

Interesting point we discussed in a Risk Management course, i.e. Insurance. I don't recall the specifics of who and where but one of the topics had to do with SS for women. The basic idea was that women live X number of years more than men and therefore should either have to pay more in or take less out. The insurance industry labels every applicant with a profile. Why doesn't SS do the same thing?

I do agree with you on the taxes to fund the SS. Realistically, how can Bush fund all the programs he is pushing and still cut taxes? Your personal view of taxes doesn't matter. Most sensible people would agree that you can't do both.

I am game if Bush does offer the private SS but again I going through life like SS will no longer exist.

[brewer12345]

Quote:

I would certainly recommend working a few years before going back to school. *I amazed at the subtle differences between the "experienced" applicants and the "no experience" applicants. *The "no experience" crowd does not really get the payback either. *MBA school is the grind and do no go unless you really want to devote a couple of years to education. *Graduate school is not fun. I am doing the full-time program and here is how I would look at the PT/FT option. *If you have a great job with a great company, go part-time. *By doing the PT, you should be happy with what is in front of you and just want the advanced degree to move you up the ladder. *If you want to totally change careers or if you are unhappy with where you are in your career, go full-time. *However, I do believe the students that go full-time have a better chance of finishing the degree than the part-time students. *I have seen people get married, have kids, etc. and the degree doesn't mean as much to them anymore. *

Welcome, wildcat. Just make sure your skin is thin enough, and you'll do fine here.

I finished a PT MBA about a year and a half ago. I would say that pursuing a PT degree is also applicable to those who want to switch fields, etc.

I got a lot more out of my program than many of the FT students in part because I actually got to apply what I was learning plus I graduated with more years of experience than they did (and a LOT less debt). Since I grauated as the economy was still in the dumper, coming out with a job and without a crushing pile of debt was a humongous advantage. No offense intended, but I found many of the FTers to be painfully clueless about the real world at times.

Your comment about having a tough time completing a PT degree is right on the money. I finished in a little over 2.5 years, but it nearly killed me, since I was working full time the whole way. It was very stimulating, but quite exhausting. I saw several classmates either stop taking classes for a while or completely break it off. One had a kid and took a year off. Another was half way through and had to stop because work got too crazy (don't know if he ever finished). Yet another took a year off and went to India, having converted to some strain of Buddhism (don't know if she made back, either). PT is not for the faint of heart. However, if you pull it off, the returns on invested money and effort are excellent.

[wildcat]

I agree to what you said about the FT. I was making the statement about the FT students assuming the FT students had prior work experience. The fresh from undergrad students are clueless and do not have much to contribute to the experience in my opinion. The only reason I mentioned the FT programs for those that want to switch careers was based on the access to recruiters that come to campus. I think the PT students get the raw end of the deal on the campus recruiters and do not get the opportunity to participate in many of the events, some of which might guarantee access to a desirable career. Any face time with an employer is extremely valuable and I just think the PT's don't get as much if any.

[brewer12345]

Quote:

I agree to what you said about the FT. *I was making the statement about the FT students assuming the FT students had prior work experience. *The fresh from undergrad students are clueless and do not have much to contribute to the experience in my opinion. *The only reason I mentioned the FT programs for those that want to switch careers was based on the access to recruiters that come to campus. *I think the PT students get the raw end of the deal on the campus recruiters and do not get the opportunity to participate in many of the events, some of which might guarantee access to a desirable career. *Any face time with an employer is extremely valuable and I just think the PT's don't get as much if any.

Hopefully this doesn't come off as snotty, but...

I found even the FTers with some experience to be pretty painfully clueless. I also didn't feel disadvantaged in any way by not talking to the on-campus recruiters, because most of the jobs were beneath me (too entry level).

[wildcat]

Opinions vary....I feel pretty clued in

[Berkshire_Bull]

Thanks for all the comments and insight on the MBA. Brewer and Wildcat, your points are well taken. I think that SS privitization is the only fair thing to do. I'm 21 and the system is broken. I was listening to the radio and they had a guest on that said the first person to ever receive SS was a woman that got her first monthly check in 1936 for $38. In the four years beforehand, she paid in a total of $46 or something. That is the definition of a Ponzi scheme. The first people make out very well so everyone else is sucked into believing it's a great thing. The system is broke and we all need to share the pain, that's the only fair thing.

Whoa Berkshire_Bull! If you represent the future of our
country, then I may have to reconsider and relocate offshore

JG

Quote:

Thanks for all the comments and insight on the MBA. *Brewer and Wildcat, your points are well taken. *I think that SS privitization is the only fair thing to do. *I'm 21 and the system is broken. *I was listening to the radio and they had a guest on that said the first person to ever receive SS was a woman that got her first monthly check in 1936 for $38. *In the four years beforehand, she paid in a total of $46 or something. *That is the definition of a Ponzi scheme. *The first people make out very well so everyone else is sucked into believing it's a great thing. *The system is broke and we all need to share the pain, that's the only fair thing.

The system is not broken at all. The radio station that you listen to is!

The woman that got $46, was the cheapest way for the U.S. to deal with the problem that the business model and the Great Depression created.

What you don't understand is that in society you are going to have to deal with people and their problems somehow. Whether it is building prisons or hiring someone to clean up the bodies. Social Security is the cheap way out. Pay people a small pittance, and let them take care of themselves

The U.S. has already tried it the other way. It was called laissez faire. But, of course you know what they say. "Those that do not understand History are bound to repeat it."

More prisons and poorhouses. That's the answer

JG

[azanon]

I dont think SS is great for me per se, but it sure does eliminate the alternative. *Can you imagine all the hundreds of old people on the street begging for basic amenities simply because they didnt save anything for retirement. *Or the rise in crime because despirate people do despirate things?

SS is a failsafe to make sure every previous employeed person has at least something to make ends meet. *And it keeps us planners from having to deal with masses of people begging at every stoplight.

[Tulio]

Hi! For anyone willing to add some great business/investing/retirement strategies that really works, go to the following URL and listen to the online free 'Financial Freedom Seminar'... http://www.FinancialFreedomSeminar.com/60640

You can get an MBA like I did, but as a matter of fact you don't need one to retire say in 2 or 3 years. By the time I got mine, I didn't know that! But that's your choice.

You can make it! Right now there is a lot of people all over the world aware of this possibility, changing their retirement formula.

There is wise advise in this website for young people that want to retire faster and get rid of the old paradigm 40 years work trap.

The reason men and women struggle for 40 years to prepare for retirement is no one showed us that we could retire in less than half that time simply by correcting a few mistakes.

Don't lose your time and energy being trapped in this old paradigm lifestyle, like I did. You don't need to.

At best, this has robbed us of 10 to 20 extra years of financial independence - at worst it has resulted in poor financial health for millions, which has caused snowballing debt, bankruptcies, business failures, divorces in record numbers and it has destroyed the retirement dreams of millions.”

If you have any questions, you can also send me an email (see website above).

Good luck,

Tulio

Brotha, I am with ya.

I started investing early just like you. By age 31 I had about $150,000 in liquid assets. Now at age 41, I have $1,100,000 in liquid assets. It's amazing what time will do for your money. (Having a reasonably good paying job helps too.)

I don't plan to retire early. Instead, my goals are; $10,000,00 by age 58, $100,000,000 by age 73. (Long story why those are my age/goal dates.)

[haha]

Quote:

I don't plan to retire early. *Instead, my goals are; $10,000,00 by age 58, $100,000,000 by age 73. *(Long story why those are my age/goal dates.)

Shasta Honey, your's is a viewpoint we don't hear often. Would you expand on it?

<ikey

[azanon]

Quote:

I don't plan to retire early. Instead, my goals are; $10,000,00 by age 58, $100,000,000 by age 73. (Long story why those are my age/goal dates.)

Just fyi, money doesn't have any real value until you give it away, and i've lived 33 years so far and have yet to see a U-Haul hooked up to a hersche.

[Dawg52]

Quote:

Brotha, I am with ya. I started investing early just like you. *By age 31 I had about $150,000 in liquid assets. *Now at age 41, I have $1,100,000 in liquid assets. *It's amazing what time will do for your money. *(Having a reasonably good paying job helps too.) I don't plan to retire early. *Instead, my goals are; $10,000,00 by age 58, $100,000,000 by age 73. *(Long story why those are my age/goal dates.)

Hey good luck with your plans!

It took me 10 more years to reach millionaire status. But at this point, free time is what I want. Sure I would like 10 million, I would like 2 million.......but the golf course is calling. Can't you hear it?

"Shasta McNasty"?? You sound like a head case to me.
Go check yourself in and get some help.

JG

[wildcat]

I suppose what Shasta is trying to say is that as long as you love your job why quit? Why not try to crack certain financial barriers few people cross? Go where no man has gone before on the ER website. I have met quit a few people that are very satisfied with their job and really don't have any hobbies or other interests outside of work. I would consider delaying retirement as long as I had time to do other things but with many people on the ER site that seems to be fluff.

Quote:

I suppose what Shasta is trying to say is that as long as you love your job why quit? *Why not try to crack certain financial barriers few people cross? *Go where no man has gone before on the ER website. *I have met quit a few people that are very satisfied with their job and really don't have any hobbies or other interests outside of work. *I would consider delaying retirement as long as I had time to do other things but with many people on the ER site that seems to be fluff.

Yep seems like fluff to me. :

[retire@40]

Quote:

I have met quit a few people that are very satisfied with their job and really don't have any hobbies or other interests outside of work.

Are they REALLY satisfied with their job, or could it be that their job has sucked all the life out of them so that's all they know.

It's a tragedy that some people are so consumed by their job, that they don't have time to explore life with all that it has to offer.

I believe most people do have hobbies and other interest besides work. They just don't know it.