Priorities, degree vs condo

Rarely is any choice completely an all or nothing decision. You can always pay your bills first and study part-time in the school or method you can afford.

 

Yup. He and his wife are paying monthly rent, why not pay towards a condo instead? For the price he is paying, it will only rise in price. Renting is basically throwing money away. At least that is how my street smart brain thinks.

We have to remember this young man left home at 16? He can't just be taking out all kinds of debt, because he may not have family he can count on in a bind.

I gotta admire him for thinking so responsibly.

Abner

 

Properly prepared, one can earn a living sufficient to buy acceptable accommodations.

For readers of this thread, I highly recommend reading "Rich Dad, Poor Dad." You'll get my meaning.

I used to live in a "what can I afford" mentality. Very limiting.

 

But appropriate for some people (not me personally). As the OP says he doesn't take stress very well sometimes the "sure thing" fits one's lifestyle better than stretching yourself.

 

Yup. Just offering the point that current circumstances do not have to remain constant, and that as the center of one's universe, one might consider going beyond current limitations.

Getting a high school diploma allowed me to enlist in the Air Force.
Getting a college degree allowed me to become an Air Force officer.
Getting an MBA allowed me to teach Air Force ROTC in my hometown.
Getting a Ph.D. allowed me to become a consultant.
Getting the NBT? We'll see.

 

True. I see what Dr. Douglas is saying, and I understand.

But as you say, Ricky knows Ricky. If he is stressed out over having to pay rent on an apartment and pay a student loan, he will not be focused and will not succeed anyway. Stress has severe manifestations. He is smart enough to know this.

Here is a message specifically for RICKY. Ricky, I would normally not do this on the open forum. But please hear me out, I have a purpose for doing so right now, here. I would like to offer to pay for any CLEP or DANTES exam of your choice. I am a long time member, and I think the mods and the other senior members here can vouch for me. I am definitely not perfect (some here hate my political views, but oh well ), but I try to do what is right. PM me your details when you are ready.

Hopefully, some of my fellow senior members can offer to do the same in whatever capacity they wish. I think those of us who made it, have a moral obligation to those coming after us, plain and simple, regardless of political party bullshit. That is why we are here, to offer suggestions and advice for things we may have or have not learned the hard way.

Keep you head up and just do the right thing!


See ya,

Abner

 

Whoa, Abner, I don't know what to say. I will say this, you are one hell-of-a generous guy. Let's just talk via PM about this.


As for the discussion, I love it! All the angles, I'm surprised at some of the opinions. I will tell you this, I believe both are investments. I would like to mention that lowering ones cost of living by hundreds of dollars is the same as growing ones income by hundreds of dollars in my mind (penny saved=penny earned philosophy). If my cost of living was 0 (guaranteed home, food, transport, and desirable insurances) I would only require a few hundred dollars/mo to be very content and entertained (that would be a big upgrade for me!). That's why I like the condo idea, I'm not going to blow any extra money. I will save it, of that you can be sure. Hopefully it will become worth more, but the primary value is not in market value.

I agree, I should have posted in "off topic", I realized this directly after posting. My mistake!

 

I meant the "off-topic" comment to refer to my post since I was discussing home-ownership vs. rent (and because I was deviating from the condo vs, shool topic).

 

Oh, my mistake. It was a good post.

 

I agree having lived in both coasts the real estate prices in NYC is higher than Los Angeles. Parts of Manhattan are definitely more expensive than Beverly Hills.

 

Being properly prepared with a piece of parchment paper isn't a given in this economy, since many degree holders are out of work. A home, on the other hand, is the foundation on which everything is built.

 

Fine and dandy, but what do you think an associate or bachelor degree is going to do for rickyjo, who isn't too thrilled by the idea of having to study? Do you think those degrees are going to land him a job in a market already plagued by undergraduate degree holders?

My approach would be pursuing a career diploma in a field he likes, at a fraction of the cost, then using the large remaining balance of the money to purchase a condo. On landing a job with his career diploma, he could then approach his employer about continuing on his degree path.

In effect, he could use the inexpensive career diploma path to test out the waters and see if studying is really for him, while also purchasing the condo. It would avoid shelling out thousands of dollars on an undergraduate program, only to later realize that he doesn't want to be tied up with years of studies.

 

Values are personal. I'm not especially trying to convince the OP what he should do--only he really knows that. Instead, I'm trying to point out that investing in one's self--stretching out beyond one's current boundaries--can have dramatic effects. No, some people aren't capable of that--and I have no idea if the OP is. But accepting the status quo is merely an option, not a requirement.

Again, I'm not trying to be "right" here. I'm just suggesting a third way.

 

I agree with Rich. You have to push and take chances to move ahead. There are always reasons to put off school. The perfect time will never come. The key for working-class, independent students is to study something that is likely to improve their situation. There are still a few fields that offer very good chances for employment...so, follow a dream that is likely to pay off. Anyway, since when do you have to choose between work and school? The time to take on both---if you must---is when you are young. It will only get harder as you age.

 

Don't forget apprenticeships!

Apprenticeships are a good way to get college credit while paying the bills. Many of the programs work with local tech schools or offer ACE approved courses. A journeyman who goes on to get a BS or master's in his/her field is likely going to do well. For example, an electrician with an engineering degree is likely to pay the bills.

 

Good points.

 

I just thumbed through it in the store, but it left an impression of a fairly bad book. Cultish and misleading. Frankly, it looks like an overhyped pile of stuff, akin to Da Vinci Code. Many reviewers agree: http://johntreed.com/Kiyosaki.html

I believe many bright people like it not for any useful content, but because it's written in this cheerleader, fake-enthusiasm style and full of vague statements that sound profound. A person can use these to justify views one already holds, like a horoscope.

 

Perhaps if you had read it instead of "thumbing through it in the store" you would have drawn a different conclusion. Perhaps not, but your conclusion is inconsistent with the book. Your last comment says there is no message, that one can use it to confirm whatever views one holds. This is false; the book takes a decided stance on these matters.

Again, the book might not appeal to some readers. Fine. But don't misrepresent what it says. As for the posters on that thread you cite--great! I'd love to be so successful with a book that some people felt utterly compelled to discuss their disagreements with it with others. (If you sell 27 million copies of a book, it's inevitable you'll find people who don't agree with your message.)

 

I do actually have IT certs (3, A+, N+, MCP XP PRO), I believe this is similar to the "career diploma" option. I would say I've already done that. It's a big part of why I was able to save up the money I have. I really, really hated the limitations of school, it's not study, it's bureaucracy I hate. I like to study, I just loathe having people telling me what to study, how much, and why. Hand me a book about something I'm interested in and I'll read it and enjoy it, hand me a book that is a required core class at a university and I just hate it 80% of the time. The worst part is when an interesting subject is ruined by bureaucratic nonsense. That's what happened with my IT certs, I had to learn things that did not help. I was not ready or even headed in the correct direction when I was done. I believe the reason we forget everything we learn in school is because we don't care and it isn't relevant! If we were allowed to be more proactive in determining what we study we would retain it.

Anyway, for interested parties, I have taken every FEMA class there is, the first two ALEKS courses, AP Lit test (4), and have three IT certs. This does cover most of my 2 year, so I should probably at least get that ultimately.

I've read some bits and pieces of rich dad poor dad. I may have to read it again, it seemed like a fairly risky way of doing things.