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Old 04-26-2015, 05:56 AM
 
71,798 posts, read 71,896,917 times
Reputation: 49350

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yep , my son has just become a partner in a national law firm , many of his law school buddies are still trying to get good paying jobs.

so how did he get his position ? by putting in the extra effort of being an editor on a labor law review newsletter while in school.

his article was noticed and the firm contacted him.

his wife is also successful and is a cpa for a major hedge fund after getting herself on the radar with another accounting firm that didn't pay nearly as much..


the opportunity is still there but you can't just float along thinking opportunity will chase you.
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Old 04-26-2015, 05:43 PM
 
Location: Washington state
5,440 posts, read 2,772,101 times
Reputation: 16378
Quote:
Originally Posted by Linda_d View Post
You don't have to move hundreds of miles away to find a better situation. You might move only 20-30 miles, from a small town to a bigger city, to find a better paying job, even if you have to commute for a short while. In 40+ years, ol' frmkt has failed to find a better job than burger flipper or pay off his student loans even though he has a bachelor's degree. Either he's lying about his real situation or he's a nut case or he's just plain lazy.
Um, I lived in the Bay Area. You can't find a decent place to live on $11/hr within 100 miles of where I was living. So, yes, I did have to move that far to find a large city where I could keep the same salary I had and still be able to rent a cheaper apartment. Otherwise, what was the point of moving?

There were no better paying jobs where I was working. There are different jobs in what I was doing that required me to start over at minimum wage. I had to move to an area where my business had a branch I could transfer to and keep my salary.

Have you commuted anywhere? I had friends that lived in San Mateo and commuted to Livermore. I knew a cop who lived in Manteca and commuted once a week to work his 4 day shift in San Jose. Even here in the NW, I commuted 6 hours a day to find a cheap place to live and still be able to access my job in Seattle. Now, that's commuting. And believe me, it's WAY overrated.
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Old 04-26-2015, 05:55 PM
 
Location: Washington state
5,440 posts, read 2,772,101 times
Reputation: 16378
Quote:
Originally Posted by NYgal2NC View Post

Remember that old saying when life hands you lemons you make lemonade.
Only if you can afford to buy the sugar! LOL
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Old 04-27-2015, 12:17 AM
 
26,148 posts, read 28,548,775 times
Reputation: 24868
Quote:
Originally Posted by newenglandgirl View Post
Excellent idea and perspective. That would take care of people at all income levels. Maybe a mandatory "no cashing out before age 62."
Thank you. The tragedy of it all is it would be relatively easy to implement. There are some hurdles with ERISA regulations for small businesses that would need to be removed. But the government could have employers use the plan for federal government employees as a template to get around the onerous regulations.

This stuff is easy, easy, easy. Philosophically speaking, I absolutely dread forcing people to save. It's very heavy handed. But there is no other way if we want people to not be impoverished in old age. A privatized system of index based funds also removes the problem of political meddling by politicians. As we've seen with Social Security, politicians are just like the citizens....they would rather kick the can down the road rather than make the necessary reforms. As long as the crisis doesn't happen on their watch, they don't care. And it certainly doesn't help when citizens don't want to hear the hard truth that most will collect more in SS & Medicare benefits than they've ever put in. We see plenty of that talk here on CD and in other forums all the time.

As far as not cashing out....it could be a bit more flexible. You could (and probably should) force people to take the money out as an annuity (and not a cost bloated one with fat commissions for insurance salesmen). That way, people could (in theory) retire earlier if their plans allowed them to take out an amount that's safely over the poverty level. But I think hardship withdrawals should be very limited in scope and I wouldn't allow loans of any kind.

Last edited by mysticaltyger; 04-27-2015 at 12:25 AM..
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Old 04-27-2015, 01:49 AM
 
10,819 posts, read 8,077,208 times
Reputation: 17034
Quote:
Originally Posted by Linda_d View Post
That's just nonsense.

There has never been all that much "job security" except perhaps for unionized white males working in industry in the period between 1945 and about 1970
Potato, potahto. What you call nonsense, I call a difference in opinion and perspective.

My bad that I didn't make it clear that I was comparing only my generation with the one following. DH & I had the good fortune to work in a time when most employers valued loyalty and initiative and rewarded us with advancement and security and benefits.
It's my opinion and perspective that few employers today do so. But there are stats to support the lack of security and benefits today compared with what they were during my working years.
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Old 04-27-2015, 02:09 AM
 
33,046 posts, read 22,092,919 times
Reputation: 8970
Quote:
Originally Posted by mathjak107 View Post
yep , my son has just become a partner in a national law firm , many of his law school buddies are still trying to get good paying jobs.

so how did he get his position ? by putting in the extra effort of being an editor on a labor law review newsletter while in school.

his article was noticed and the firm contacted him.

his wife is also successful and is a cpa for a major hedge fund after getting herself on the radar with another accounting firm that didn't pay nearly as much..


the opportunity is still there but you can't just float along thinking opportunity will chase you.

What if he hadn't been able to afford school? If I write a great law article will an employer contact me?
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Old 04-27-2015, 02:12 AM
 
33,046 posts, read 22,092,919 times
Reputation: 8970
Quote:
Originally Posted by mysticaltyger View Post
Thank you. The tragedy of it all is it would be relatively easy to implement. There are some hurdles with ERISA regulations for small businesses that would need to be removed. But the government could have employers use the plan for federal government employees as a template to get around the onerous regulations.

This stuff is easy, easy, easy. Philosophically speaking, I absolutely dread forcing people to save. It's very heavy handed. But there is no other way if we want people to not be impoverished in old age. A privatized system of index based funds also removes the problem of political meddling by politicians. As we've seen with Social Security, politicians are just like the citizens....they would rather kick the can down the road rather than make the necessary reforms. As long as the crisis doesn't happen on their watch, they don't care. And it certainly doesn't help when citizens don't want to hear the hard truth that most will collect more in SS & Medicare benefits than they've ever put in. We see plenty of that talk here on CD and in other forums all the time.

As far as not cashing out....it could be a bit more flexible. You could (and probably should) force people to take the money out as an annuity (and not a cost bloated one with fat commissions for insurance salesmen). That way, people could (in theory) retire earlier if their plans allowed them to take out an amount that's safely over the poverty level. But I think hardship withdrawals should be very limited in scope and I wouldn't allow loans of any kind.

Sorry but I think government has no right to force minimum wage workers to save.
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Old 04-27-2015, 02:19 AM
 
71,798 posts, read 71,896,917 times
Reputation: 49350
Quote:
Originally Posted by freemkt View Post
What if he hadn't been able to afford school? If I write a great law article will an employer contact me?
he borrowed the money for law school , he paid it all off now too. right out of school they started him at 115k a year . today he is a general partner.

the funny part was he applied for a position at a different location of the firms and was told even though he was in the top 1% of his class they didn't hire from his school.

they told him if he transferred they would consider. so he put in a transfer...

being in the top of the class where he was thwe school never put it through for him.

ironically it was a different office that contacted him, offered him a summer job then hired him ..
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Old 04-27-2015, 02:24 AM
 
10,819 posts, read 8,077,208 times
Reputation: 17034
Quote:
Originally Posted by freemkt View Post
What if he hadn't been able to afford school? If I write a great law article will an employer contact me?
Mathjak, just this one time I have to agree with freemkt.

My son can write a grant application like nobody you've ever known. Wowsa. This skill gets him all kinds of headhunter and job offers, some with a great salary, but not one of those has ever offered anything resembling job security, much less a benefits/retirement package.
So he has opted to freelance and offer his services to creative arts groups. In the beginning, DH & I thought he was nuts but we've come around. If so-called "gainful" employment doesn't offer any gain beyond the promise of mega-bucks for a few years, what's in it for him?
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Old 04-27-2015, 02:50 AM
 
71,798 posts, read 71,896,917 times
Reputation: 49350
it doesn't matter what you do but you need to somehow separate yourself from the pack.

you need to standout from the crowd or you are just another resume that gets filed away.

at the least you need to network very very hard.

the best way to get a job is to be brought in through someone else. i see it daily where i work.

we have doubled the company in 4 years and are hiring on an on going basis.

those who call cold are rarely picked. but those who know someone are given a serious look . many times that someone comes from a customer who recommends them.
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