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Depressing post about my future. AKA me looking for career advice - Page 6

post #76 of 124
Yes, when I had a roommate we used to go to dinner, hold hands, kiss, sechs, all of it. My girlfriend is thankful for that developmental time in my life.
post #77 of 124
Quote:
Originally Posted by patrickBOOTH View Post

Yes, when I had a roommate we used to go to dinner, hold hands, kiss, sechs, all of it. My girlfriend is thankful for that developmental time in my life.

Sounds like a good roommate.
post #78 of 124
I had to move out, he got to clingy.
post #79 of 124
Quote:
Originally Posted by Liam O View Post

Exactly. If you're used to living on 100k a year, and can reasonably expect to live to 75 (which will probably be be the life expectancy by the time I'm that age) and you retire at 60, you need at LEAST 1.5mil because you can't count on pensions and Soc. Sec. anymore, medicare/medicaid are having issues, and you're probably going to have expensive health issues that may no longer be subsidized. That is a LOT of money to rack up if you don't start earning 50k til age 30, which is a more and more common situation these days.

Liam:

This post shows an indepth lack of knowledge, in more than one domain, that is readily available for all on the Netwebs. May I ask what area of study you are pursuing?
post #80 of 124
Don't despair OP -- I graduated with a B.Journalism in the middle of a recession that was so hard on media, even non-paying internships were cancelled (newsrooms couldn't afford the meal per diem that they had agreed to pay).

After a few years of substance abuse and working night shifts in a print shop, I landed an editorial assistant's job (gross pay = $20K with no benefits) and began my climb up the ladder. The only real educational upgrade I underwent was finishing the Canadian Securities Course, which is a requirement here to be a securities dealer (I also taught myself HTML 4.0).

I work in government now, but previously helmed a digital media industry association, was managing editor of an institutional finance journal, manager of a 3-person web content team, etc., etc. With a degree in communications, one thing is certain: your career path will take some pretty unexpected turns. You will need to manage your expectations accordingly, and perhaps sacrifice some short-term reward for the longer-term payoff.

One piece of advice I might impart is to start thinking strategically about your industry, and share your observations with people. Someone mentioned LinkedIn, which is a great tool, but consider also blogging (or at least tweeting) your observations on advertising, communications theory, politicians' media strategies, etc. If people you network with can see that you have a demonstrated history of thinking critically about developments in communications, you stand a much better chance of snagging that plum position sooner.
post #81 of 124
Quote:
Originally Posted by patrickBOOTH View Post

I had to move out, he got to clingy.

That's a shame. The good things never last.
post #82 of 124
Quote:
Originally Posted by mcbrown View Post


Easy, tiger. Yes, one should save early and often if possible. But on a lifetime NPV calculation it is much more important when you are young to focus on your long-term earning potential rather than maximize current earnings. That is the time in your life to take risks, because the cost of having low earnings only increases as you get older - you definitely won't want to be taking a lot of career risks when you are 35 and married with kids, mortgage, parents entering retirement, etc.
Besides, how does turning down a $30k job help the OP on this front in the first place when the current alternative is a $0k job? Nothing stops him from looking for another job while he is working, so better to at least have SOME income than no income.
As for roommates, having roommates after college is different from having roommates in college, because it is "real life" and college is not. In college you don't have to figure out to nearly the same extent how to coexist with other humans while sharing the responsibilities of cleaning, dishes, shopping, rent, utilities, etc. It helps most people figure out that part of growing up is learning to take care of those things, and after a short while they will figure out why living without roommates is better. And it sounds like you are the exception - most people DO want roommates when they are young, because they think it is more fun than living alone. If nothing else they need to be disabused of that notion.
Also, in my experience people who never had to live with roommates in the "real world" are more likely to have difficulty forming and maintaining long-term romantic relationships as they get older. They have their patterns and routines, their way of doing things "just so", and they never learned how to make room in their life for people with differing opinions on how to navigate the banalities of daily life. Granted this is hardly scientific, just an anecdotal observation.


I just reread my earlier post, I apologize if I came off as a dick, I was confused by your comment, not trying to insinuate you were malicious or stupid.

Maximizing lifetime earnings is key, I think we both agree on that, and assuming the "standard" trajectory (jobs-->career-->family-->retirement) obviously I'll agree that fresh out of school is the time to mess around, take risks, keep options open etc. I just don't necessarily understand what the negative impact of investment at an early age on lifetime NPV would be, which is what you seem to be implying. I think I'm misunderstanding you here.

I didn't advocate turning down the $30k job. Turning down work you have the time to do is utterly anathema to me. I've mentioned before I work full time, I'm carrying 18 credit hours, I manage projects for a few people and I maintain two (very limited) "as needed" positions with ETS and a machine shop where I used to be a full time employee, in addition to thrifting/ebay and sourcing clients for the missus' web design company. I'm not sure why you thought I was advocating turning the job down, but if I were to tender my advice in that matter to the OP it would be to take the job, take side jobs, and when he performed his job for at least a year well enough to receive a glowing recommendation, start looking for more lucrative and rewarding positions.

The roommate thing I think we're going to disagree on. It seems like by the time you graduate college, to me, that you're either capable of living well with other people (maybe you need a bit of polish, maybe you don't) or not. I've had a number of roommates before going to college, and in college, and it seems there are just certain people who are too narcissistic for it to be a practical arrangement. Financially it is a good decision, generally, but I've also had roommates that were such a PITA it negatively affected both my academic and professional performance. I just can't in good conscience agree that roommates are a manifestly good thing for all people at that age.


 

Quote:
Originally Posted by Piobaire View Post


Liam:
This post shows an indepth lack of knowledge, in more than one domain, that is readily available for all on the Netwebs. May I ask what area of study you are pursuing?


Of course, but it's a long answer. I have a background in marketing and organizational communication (completed the programs, not the degree). I'm now in school for a BA in History, although realistically I'm actually studying linguistics, a set corpus of languages and their corresponding literature, with minors in Classics and Religion. I have an interest in finance that I'm considering pursuing in terms of career, but I don't know nearly enough about it at this point to make that call.

 

To clarify, I am not being sarcastic here: What was incorrect? I'd like to be corrected if possible, as this is stuff I'll be needing to know in order to avoid making an utter hash of my life in the future.

post #83 of 124
Quote:
Originally Posted by patrickBOOTH View Post


I don't know though. I mean you can work longer, but you may not need the same grueling job. I am 26, I can't see myself spending nearly as much money when I am 70 as I do now. I doubt I will need to maintain my highest level of income. It would be nice, but I don't think I would need it. Inflation is always an issue, though.


I'm a cheap bastard now so I can have a blast if I ever manage to stop working. If I save up too much I guess I'll just have to spend it all on scotch and tweeds.

post #84 of 124
Quote:
Originally Posted by Liam O View Post

of course, but it's a long answer. I have a background in marketing and organizational communication (completed the programs, not the degree). I'm now in school for a BA in History, although realistically I'm actually studying linguistics, a set corpus of languages and their corresponding literature, with minors in Classics and Religion. I have an interest in finance that I'm considering pursuing in terms of career, but I don't know nearly enough about it at this point to make that call.

uhoh.gif
post #85 of 124
Quote:
Originally Posted by Liam O View Post



I'm a cheap bastard now so I can have a blast if I ever manage to stop working. If I save up too much I guess I'll just have to spend it all on scotch and tweeds.

This is a wise approach to life. cheers.gif
post #86 of 124
Woah, this thread got very facepalm.gif
post #87 of 124
when I was 23 I was living like a fucking king. I realized that it wasn't the type of lifestyle that would be smart to pursue for a long time. so

1. I went back to school (university_
2. I lived with a roomate (until I met my wife, 7 years later)
3. I didn't have a car
4. I took a job to pay the bills that was "beneth me"
5. I took a low paying job that was related to what I wanted to do, that was also beneth me but helped my resume
6. I went back to school (community college) to get some specific "technical" ceritifications that would help me out in the future.


the combination of the above meant that I didn't really have a shit load of fun in my 20's, and lived much better at 22 than I did at 26, but it also meant that at 45 I live like a fucking king.
post #88 of 124
Quote:
Originally Posted by globetrotter View Post

when I was 23 I was living like a fucking king. I realized that it wasn't the type of lifestyle that would be smart to pursue for a long time. so
1. I went back to school (university_
2. I lived with a roomate (until I met my wife, 7 years later)
3. I didn't have a car
4. I took a job to pay the bills that was "beneth me"
5. I took a low paying job that was related to what I wanted to do, that was also beneth me but helped my resume
6. I went back to school (community college) to get some specific "technical" ceritifications that would help me out in the future.
the combination of the above meant that I didn't really have a shit load of fun in my 20's, and lived much better at 22 than I did at 26, but it also meant that at 45 I live like a fucking king.

i assume by technical you meant engineering, software engineering maybe?
post #89 of 124
Quote:
Originally Posted by Liam O View Post

Quote:
Originally Posted by Piobaire View Post

Liam:

This post shows an indepth lack of knowledge, in more than one domain, that is readily available for all on the Netwebs. May I ask what area of study you are pursuing?


Of course, but it's a long answer. I have a background in marketing and organizational communication (completed the programs, not the degree). I'm now in school for a BA in History, although realistically I'm actually studying linguistics, a set corpus of languages and their corresponding literature, with minors in Classics and Religion. I have an interest in finance that I'm considering pursuing in terms of career, but I don't know nearly enough about it at this point to make that call.

To clarify, I am not being sarcastic here: What was incorrect? I'd like to be corrected if possible, as this is stuff I'll be needing to know in order to avoid making an utter hash of my life in the future.

Well, current life expectancy in the Western world already exceeds 75. If you break it out by race and SES it becomes higher for whites and Asians. Break it out just by SES and it becomes higher the higher up the SES you go.

Next, one usually uses a safe "spending rate" on the corpus of one's nest egg. If 100k per year were the goal one would expect to spend 4-6% (we'll use 5% as it's the mid point) so for a 100k a year cash flow expect to start with a $2 million nest egg. You have to build in an inflationary index yourself or your 100k will quickly become eroded over time.

Last, compound interest. Go look up some calculators on the Net and see what starting at age 20 with very small sums can do over the decades.
Quote:
Originally Posted by globetrotter View Post

when I was 23 I was living like a fucking king. I realized that it wasn't the type of lifestyle that would be smart to pursue for a long time. so

1. I went back to school (university_
2. I lived with a roomate (until I met my wife, 7 years later)
3. I didn't have a car
4. I took a job to pay the bills that was "beneth me"
5. I took a low paying job that was related to what I wanted to do, that was also beneth me but helped my resume
6. I went back to school (community college) to get some specific "technical" ceritifications that would help me out in the future.


the combination of the above meant that I didn't really have a shit load of fun in my 20's, and lived much better at 22 than I did at 26, but it also meant that at 45 I live like a fucking king.

Did a similar thing. Did not really hit my stride in earnings until mid 30s.
post #90 of 124
Quote:
Originally Posted by sinnedk View Post

i assume by technical you meant engineering, software engineering maybe?

actually more like administrative - I do international sales. I took courses in things like shipping, international payments, international shipping documentation, computer courses (stuff like early office software, which allowed me to be more productive than a lot of the older guys that I worked with at the time), typing, and a bunch of actual selling courses, bookeeping, that kind of thing. I took business and economics courses in University, but I also took the type of courses that clerks and administrative people take in community college.
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