- You should get a PhD! If you just did more research then you'd love it and you'd want to work at an R1. (counter-productive to a career change, but yeah.)
- Buy a house on credit cards! (it was added that advice giver did this at 18% interest. And said that since zir parents paid this amount it was justifiable.)
- Buy a house in a bad area for 2k and live in it while you fix it up. Then rent it out! Landlords always get rich! I read it in a book! (FWIW, I read the same book. This is not what was said.)
- Start your own business! (This was complete with very specific business plan. That I'd never do, because it's unethical and frankly, just ugh.)
- And in that business if you charge $25 per person and have 20 people show up you'll make $2500 in a weekend! (I'll leave you to do the actual math.) Sell extra stuff and it'll be $3000! (Stuff I'd have to make, paying for the supplies.) You'll be rich! I did it! (Zie is not rich.)
- Why won't you do all this right now? You're smart, right? Why aren't you? There's always time in to do the things you like. (hint. maybe I don't like this.) I'm sure you could figure it out! It'd fix all your problems.
Monday, April 29, 2013
Bad advice
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6 comments:
Wow about buying a house on credit cards that had 18% interest. I'm just stunned to hear that this is even a concept that would be considered.
Worst. Advice. Ever! Especially the one about buying a house on credit cards!!!!
Re: the PhD...Go into debt on the off-chance that you may enjoy research? UGH. Just because you are at an R1 university doesn't mean you should pursue it. Do it because you WANT to do it!
Re: Running your own business...been there, done that. It's a lot of work, especially if you have to collect past accounts from people.
RL, I wish I could magically make your dream career come true. Hugs.
It was all fascinating because so much of it doesn't match my personality, my goals, who I am. But zie was so certain. Husband was like "you're never wake up and start your own business. Not on purpose." And why can't I be trusted to know I don't enjoy research? Because I've done enough, working full time as a professor to know this. Zie has yet to be in the field.
Anthea, right?? I kept saying "18%! That's insane." and Zie kept saying "well my parents did that." (the interest rate, not the credit card) Yeah. 30 years ago. So did mine, but they were also able to sell the house for 3x the price 2 years later. You can't do that now. It was even more strange that he felt this was the advice he got from reading The Millionaire Next Door. I read that book too and I didn't see anything about 18% interest rates and slum lord investing.
Gawd I just hate research but did a few phd courses anyway. A few was enough. I did start a business, just went public this week. Online proofreading, editing, academic coaching and online faculty mentoring. But it's not like the business we had years ago that owned us. Never again like that. I can't believe someone would buy a house on credit card. Wow. You'll do what works for you. Heck I just turned 58 last week and am still trying to figure out what I want to do when I grow up :-) Hang in there.
Just ugh, all around!
Ummm, that is all the most horrible advice ever!!
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