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 Two Serious Pieces Of Financial Advice
Wayiwalk 1k posts, incept 2016-11-09
2024-05-13 08:59:24

My retirement model/spreadsheet has always assumed my SS $ would go to entirely to paying for my retirement healthcare.. very worst case but it is what I use. But dam I am still surprised to see it is within the realm of possible. Fuck you Obama and Congress and John Roberts.

Number 1 son went to U of Maryland for a bioengineering degree. We were one income family at the time. He lost his scholarship after freshman year (needed to keep a 3.5 gpa !!!, I'm sure their consultants told them what is the 3 sigma cutoff for "likely to lose the scholarship" gpa) and after much infighting (me vs my wife teamed with son, I have said previously she is a shield maiden, god forbid she is against you) we cosigned; I knew full well what I was signing, ahem, cosigning.

He found good work after graduating.

2020 Convid rolls along. Early, very early on, around March, still in the, what could this mean stage, I did some reading and learned that the cosigner could be discharged if the borrower has been employed for a year(plus or minus I dont recall the term) and consistently making payments.

After asking him to get around to it 3 times, he did submit the form, and I was removed as a cosigner.

He did not have 6 figures of debt, something around $28K.

But I did carry that amount in my retirement spread sheet (I guess I am Mr. Worst case scenario) and it was a delight to remove that liability.

Fuck college ripoffs.

Next was Mini-me daughter, she did NOT lose her scholarship and went to a school that had a tuition 65% of first son. She graduated with a hard science degree (combo chemistry and bio) is also working but not in a lucrative field... but is happy. Very limited debt from the federal loan which doesn't require a cosign, just needs similar loan taking blindness.

Number 2 son in college now, getting a business (accounting and corporate finance dbl major) degree. My wife is very shield maiden AND stupid about college ("they need to figure out what they like") and it is her line in the sand. She is smart 96% of the time but that 4% is a kick in the balls. If I fought her to the end, and it is not a discussion, I would be single. Hmmmm.

But we really have no easy choice here. The kids are all the types that benefit from the academic advancement.

Anyway, no more cosigning for us, both presently working, but the cost is insane. And fuck the gov't for driving up the cost.

TBD what the 16 year old does. He is doing a class in programming over the summer, and we are also playing with my dad's Atari 800 in free time, so he should figure if he really wants to go that rout over the next year.

I appreciate seeing a rough metric of top 10% being the goal, it gives good perspective. I think it is crazy to go to college for just about anything at these prices/benefit.

I keep thinking, "it can't get any worse" and then it does!

Let's Go Brandon!
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