Quote from nooby_mcnoob:
I'm so fucking tired of hearing this bullshit from people. YOU MAKE YOUR OWN SECOND CHANCE. AND THIRD CHANCE. AND FOURTH CHANCE.
I'm not lucky that I'm well off, I work fucking hard for it with struggle after struggle where most people give up and just go work at McDonalds and complain about their job and lack of second chances. And no, my struggle is not limited to "my mom doesn't love me."
Your quote is what is fucking wrong with society right there.
Your parents should kill themselves for bringing up someone who is so fucking defeatist.
Touching.
Been in same biz for over 25 years. This economy is very tough. Fees are literally below 1980's levels when expenses were much lower. Working twice as hard for less and deadlines are very short. It is going to be very hard to get ahead in this economy - particularly for people that are deep in debt and lived beyond their means. I am doing well now b/c I grew-up poor and have that deep fear from my childhood, and because I am frugal. If I make less, I spend less, if I make more, I do not up my lifestyle much, I just invest more. I sold my investment R.E. from 2004-2007 and own the casa F&C with some rental income from othyer units on the property. No debt, NO CC bills, - one child is finishing up college this quarter and the other is covered and doing very, very well, but having only one child in college for another 4-5 quarters is actually a relief even though I can afford it. Believe me, when things dumped in 2008, it was a bad time to have two kids living away at major universities, but I had prepared and had very low overhead and living expenses, and I got very competitive on my fee quotes and fortunately I picked up a great client in early 2008 and they now provide 75% of my (which is in a way scary too, but I can get by from other clients if need be).
This thread started out talking about people over 50, which includes me... If you told me my fees would be lower now with 25 years experience than they were in the 1980's, I'd have said you were nuts. Its not just me, its industry-wide. A lady that worked for me in the early 1990's and went out on her own successfully for like 15 years, just took a job at a larger company on fee-split arrangement. Let me tell you, there are loads of qualified people out there and the fee splits are LOW. Margin squeeze if you have your own biz. Tough times.
So hard work, persistence and drive are definite pluses, but right now there is not enough work to go round and a 55+ guy getting laid off in a depressed industry has my empathy... Compound interest really works in your favor if you start early. Someone who is 55 with limited savings, big mortgage, kids in college, etc., is in an ugly spot.
My advice to all, for what it is worth, is to live below your means, work hard and invest. I would avoid debt unless it provides really strong leverage/high yields w/o too much risk and is non-recourse.
One other thing - some of the jobs mentioned here are unskilled labor that can be eliminated. You can do your own pool, gardening and clean your own casa. I do not know of anyone in my area paying $50/ to $100/hora to have their house cleaned. Maybe $50 to $75 for the whole house, but not that much per hour. No way, not here anyway.
