[dazzleman]

Originally Posted by Masterj

Exactly. And even if you paid your dues at a former job, you have to be prepared to pay your dues at all new jobs.

That's why I haven't changed jobs in nearly 20 years....

[willow wind]

Nep321-

Have you ever considered becoming self employed ? You seem so overwhelmed at times with being an employee. I mean you've quit two of your three jobs without having a new job lined up. I know a job can sometimes not be a good fit but all jobs will put you under pressure, people will make demands, not everyone will love you, etc.

If an office climate & playing well with others is not your cup of tea, then maybe something else would suit you better. You've got your masters, perhaps use this down time to study and take the CPA exam.

You wander aimlessly around the country and yet you focus on the minor and trivial. People are too tall in San Diego, I think it was Colorado you discounted because of cowboy hats, the whole South bothers you because someone may say " y'all".

I get the feeling you maybe better off working alone, where you can live where you want and there is little people pressure. Being self employed requires tremendous self discipline and lots of hours to get started. You may never make the amount of money you could make in financial services but you don't seem to want the terms, the living locations, those more high pressure jobs require. But a self employed CPA can do quite nicely and live quietly and comfortably.

Let dad finance a little house for you somewhere out in the more eastern reaches of CT, where you seem to like the countryside. It's about the only place you seem like. Work for yourself, get established, then refinance it several years do the road and pay him off.

I don't know Nep, just an idea. You're floundering going on the way you have been and there doesn't seem to be a happy resolution in sight for you..

[Wilton2ParkAve]

Thanks for the over the top post. Interest rates rising have no impact on today's buying power if you lock into a 30 year fixed. Your out of pocket will not change. The 3x rule is a good "rule of thumb" but is not a bright line test. Obviously buying power is extends in this zirp environment. Most banks are still playing by the 30-35% of gross income- but this does not translate into 3x. Also wages aren't contracting.

Originally Posted by jane_sm1th73

I would recommend taking a moment to think things through. The underwriting standards have gone back to PITI<3 times gross income.

What happens when the interest rates revert to historic normal - which they will have to do someday?

A $400K loan at 4% costs $1910/mo (30 yr fixed, ex taxes, insurance and fees).

A $400K loan at 7% costs $2600/mo (30 yr fixed, ex taxes, insurance and fees).

That's an extra $700/mo in fixed costs. $8400/year.

$8400/yr represents $42K of 'borrowing power' at 20% down, that has to be contained within the PITI<3x gross constraint.

Given that wages are flat or declining, said house just took a $42K price hit. Most people are lucky to have that in equity, so they will not recover their down payments. Whoever bought a house under the hopeful scenario will be very fortunate to sell it, period.

Change is a constant. Mostly, history is the best predictor - at least as far as borrowing rates go.

Just sayin'.

[mlassoff]

Originally Posted by willow wind

Nep321-

Have you ever considered becoming self employed ? You seem so overwhelmed at times with being an employee. I mean you've quit two of your three jobs without having a new job lined up. I know a job can sometimes not be a good fit but all jobs will put you under pressure, people will make demands, not everyone will love you, etc.

If an office climate & playing well with others is not your cup of tea, then maybe something else would suit you better. You've got your masters, perhaps use this down time to study and take the CPA exam.

You wander aimlessly around the country and yet you focus on the minor and trivial. People are too tall in San Diego, I think it was Colorado you discounted because of cowboy hats, the whole South bothers you because someone may say " y'all".

I get the feeling you maybe better off working alone, where you can live where you want and there is little people pressure. Being self employed requires tremendous self disciple and lots of hours to get started. You may never make the amount of money you could make in financial services but you don't seem to want the terms, the living locations, those more high pressure jobs require. But a self employed CPA can do quite nicely and live quietly and comfortably.

Let dad finance a little house for you somewhere out in the more eastern reaches of CT, where you seem to like the countryside. It's about the only place you seem like. Work for yourself, get established, then refinance it several years do the road and pay him off.

I don't know Nep, just an idea. You're floundering going on the way you have been and there doesn't seem to be a happy resolution in sight for you..

Bingo... And owning your own business is really a true path to wealth. Yes, I work like a madman, but its really starting to pay off. I make 3-4x what I did as a software developer and I have self-determination.... If I want to go Vegas for the weekend, I go. If I want to extend a business trip to explore a city I can.

I average 60-65 hours a week, but those hours are at my leisure. I may work 4 hours today, 16 hours tomorrow and take Wednesday off to go to a Yankees game. It's a much higher quality of life than I ever had working for XYZ, inc. The responsibility of having employees is immense.

Accounting is a valuable skill that people will pay you for.

May be an option for Nep to think about.

[nep321]

I repeatedly told you guys that I'm not anxious to make six figures. Nor am I interested in working 50+ hours a week on average. I know that mentality won't lead to making six figures and I accept that. Personal choice. Free country. Nothing wrong with it.

I am perfectly happy living in a modest home in a modest town and I've repeatedly said that as well.

I am not interested in operating my own business - at least not at this time in my life. Again, personal choice. Free country. Nothing wrong with it.

All I want is an income comfortable enough to live a modest standard of living in a middle class area. Yet it seems like everyone on here is pushing me for FFC (except Willow Wind). Willow wind, there are simply no accounting jobs in eastern CT usually. They're usually in FFC, NHC or Hartford. I've also been searching in Albany and Providence as well.

Also, I do not have to start from the bottom again. I have 5 years of experience, a graduate degree, etc. Has my career been stalled? Yes, probably. But I do not have to start from the bottom again. That's nonsense.

It seems like you guys won't accept any other option than having me work 60 hours a week in FFC and make six figures in a few years. Well, what if I don't want that lifestyle?

With that said, I'll probably apply to jobs in FFC anyway, since my #1 priority at this time is becoming employed again. The other stuff (cost of housing, income, likability) I will just deal with secondarily to the job and make the best of it. Not that it's easy to find a job in FFC anyway.

[dazzleman]

Originally Posted by nep321

I repeatedly told you guys that I'm not anxious to make six figures. Nor am I interested in working 50+ hours a week on average. I know that mentality won't lead to making six figures and I accept that. Personal choice. Free country. Nothing wrong with it.

I am perfectly happy living in a modest home in a modest town and I've repeatedly said that as well.

I am not interested in operating my own business - at least not at this time in my life. Again, personal choice. Free country. Nothing wrong with it.

All I want is an income comfortable enough to live a modest standard of living in a middle class area. Yet it seems like everyone on here is pushing me for FFC (except Willow Wind). Willow wind, there are simply no accounting jobs in eastern CT usually. They're usually in FFC, NHC or Hartford. I've also been searching in Albany and Providence as well.

Also, I do not have to start from the bottom again. I have 5 years of experience, a graduate degree, etc. Has my career been stalled? Yes, probably. But I do not have to start from the bottom again. That's nonsense.

It seems like you guys won't accept any other option than having me work 60 hours a week in FFC and make six figures in a few years. Well, what if I don't want that lifestyle?

With that said, I'll probably apply to jobs in FFC anyway, since my #1 priority at this time is becoming employed again. The other stuff (cost of housing, income, likability) I will just deal with secondarily to the job and make the best of it. Not that it's easy to find a job in FFC anyway.

You would have been better off living in the 1950s, when the middle class was rising. Today, the middle class has been split, and you either go up or down. The level of middle class that you're describing has moved economically downscale.

[joe143]

Nep, as a fellow accountant I would suggest using this downtime to study for the CPA. Obtaining the license allows you to pretty much live wherever you like, it's in demand everywhere. Outside of major cities, there is not nearly as much demand for private accountants as there is public accountants. This could be a good opportunity, I can tell you from experience that studying for the exam and working full time is tough.

[oc2nyc]

Somehow this thread took a turn and became all about this Nep person. Maybe he/she should look into politics.

To the OP I say, look on any state message board and you will find a post exactly like yours. People are one this site for two things. Info. about a place they want to move to or visit, OR complain about where they currently live. Period.

No one can answer why it is that the people you have encountered are moving. The next time it happens you might want to nicely ask them, and see what answers you get.

[LRPct]

Originally Posted by oc2nyc

Somehow this thread took a turn and became all about this Nep person. Maybe he/she should look into politics.

To the OP I say, look on any state message board and you will find a post exactly like yours. People are one this site for two things. Info. about a place they want to move to or visit, OR complain about where they currently live. Period.

No one can answer why it is that the people you have encountered are moving. The next time it happens you might want to nicely ask them, and see what answers you get.

Its OK for SOME people to deviate way off topic.. others get violations.. favortism is not new here.. that is crystal clear.. theres also many that spend a whole lifetime moving to avoid their "problems" only to realize very late that the problems were much closer to "home" than they could see.

[Henry10]

Why do these threads turn into "beat up Nep" moralizing sessions?