All Forum Posts by: Steve Hyduchak

@Adrian Tilley I couldn't agree more with you. Especially if you are uncertain just do what makes you the most money with the least amount of hours.

Law was looked to me as beneficial but not a passion unfortunately. Just the thought of getting into managing real estate investments and getting into myself gives me goosebumps and excites me like a young boy on Christmas! I see so much potential and it greatly interests me. And obviously the potential for large income growth :)

Thank you all for your feedback and getting back to me. My tentative plan as of today is to finish the year on good terms and then take my "leave of absence." This will allow me to walk away for a year without burning any bridges as they say. I plan on using this next month or so planning my next move. I am hoping to find a helpful real estate investor in the area or back home (PA) and learn all I can from them while gaining experience and working. To me this makes the most financial sense at this point in my life, as I do not have that wealthy family who is going to fund every hope and dream of mine. @Sharon Vornholt this is similar to what you recommend and I do think that is a smart and safe course of action.

@Mike Hurney I hope this gives a little closure on the post, rather than it being up in the air haha.

Mike, I was always interested in the law and wanted to learn the ins and outs if you will of the process. But, I do not picture myself being a practicing attorney at this point. I had a mentor in undergrad who I looked up to greatly. She was a realtor and an attorney/professor. I thought she knew all the secrets of the game because of going to law school and I am learning that it is not so much going to benefit me in REI. Rather I could learn things from experience and as I need rather than take 2 more years of life and debt/opportunity cost.

Andrew,

That is my issue. There is no way I can start saving much now. I am making interest payments on my loans so they do not spiral out of control when I am done or leave law school after this year. And I moved down from Pennsylvania and decided to go to NCCU mostly because of the law school price. But, I quickly learned in this area the school is not highly respected and many attorneys from the school told me, 'it is going to be feasible to get where I want, just a hell of a lot harder."

@Dennis Lanni I think I am more high risk and am willing to do that now while I have limited ties. But I am curious as to why you still think law school is valuable? I am sure you are sitting in on the classes and learning the exact things that you need to know rather than take 90k in loans out for that info? I think personally your plan is safer and cheaper which is always a plus in my book.

You give me hope haha! This site has been so informational and useful. I am working on it, just trying to make the right moves to my life. I feel like I am player poker, all my cards are down and just want to pick the right one!

@Aaron Montague I do agree with the upside and just like real estate if you do your due diligence and find your niche market I do believe this is opportunity there of course. I do believe if I get my law degree and find a niche, hopefully near the beach :) I can still make it.

But on the other hand I feel I can find a niche now with my undergrad degree and start making money and investing sooner than later. The opportunity cost it greater each year I wait and my debt increases. So, as you can see I am mixed up here. But, thanks for the examples I love to hear how people in the field are doing.

@Jean Bolger Thank you for sharing your personal experience. I understand that is how my life would be especially partnered. Attorneys cost a lot and companies today are trying to minimize legal costs greatly, so if I cannot be an asset than I would not blame them. I just feel there is easier ways than working 70+ hours a week for years to make a decent wage. I like to think working hard is the best philosophy all the time, but working smart is just as important I believe.

@Mark Whittlesey My alternative is using my finance degree and background and starting somewhere at a bank as an underwriter or something similar. Doing that while saving money for investing into rentals around college towns. That is just the short term, who knows the future? But the debt is scaring me. @Aaron Montague I appreciate the advice. That is the belief of a lot of people but a dwindling one. Having a law degree in this economy does not mean a higher income by any means. Sure there is some that make it to the top of firms and make 150k+ but the odds are getting smaller and smaller. I do not go to a top tier school, a lower ranked state law school so my chances are even smaller to break into their "cliques."

@Glen Sonnenberg The debt for all 3 years of my law school would be 70k, not minding the 6.9% interest that is building all while going to school so realistically more near 86-90k when all is said in done.

@Sharad M. Appreciate the words and encouragement. That is the question at the end of day. Whether or not I will be happy doing it? And partly income and salary comes into play on that, my concern is I would enjoy it but while having a debt to an average paying job. I guess what I am trying to say the argument that goes "do what you love" can only go so far when wages can't make it a valuable "investment" for law school. That is my issue.

But again I appreciate everyone's opinion. The best way is to learn from others' experiences and I am soaking up a lot of what people are saying on here everyday!

@Andraise Scott Thank you for the kind words :) I hope I do as well. The debt of law school and interest is the scariest part to me. Having a law degree today is appearing more and more like only an average at best lifestyle and pay grade, coupled with that high interest debt holds me back from starting my life and investment ideas. I am definitely at a crossroads in my life and would like to make the most sound and best financial choice I can make.

I also do see the upside, but I mentioned to James I am not sure the debt is proportionate to the positives.