Posts Tagged ‘college’

What Should I Study In College?

Tuesday, October 13th, 2009

When asking oneself what would be a great Depression era vocation to get, one supercedes the important question that you should ask in business, namely, do you love what you are doing?  When you are in college or trade school, you are training to do something that you will try to do for the rest of your life.

Unfortunately, the reality is that in this day and age, you will probably become obsolete or your vocation may require a lot of retraining so you need to think in terms of training or schooling for what can I do to get to where I want to be right now, with now being anywhere from 2 to 8 years of schooling.

You should study somethiing that you think you will like.  I have a client and friend who has a daughter who is thinking of going into law school.  The daughter is incredibly bright and should not have a problem with it but will she be happy with that kind of life?  Lawyers out of school work long days of 10-14 hours and are expected to continue to put in the overtime and get the billings.  Unless one is fortunate to get in a law firm that is one of the top ten in the nation, the starting salaries aren’t going to be in the six figures like they use to be fifteen years ago.

For the same amount of short term effort, is there something health care that the person might be interested in.  Of course the long term goals are that in the case of being an attorney that you get a practice built up and can make money.  The truth is in places in California there are enough attornies so that every 3 people has an attorney as of the posting of this entry.

I am certain that my client’s daughter will decide prior to entering law school if that is what she wants because she is savvy of the cost that it be for her and her parents.  It pays to really want to study or love what you are doing but if you are doing something for the money, make sure at least that you have more than a passing interest in it, especially if it is going to cost you in time, money and aggrevation.

Hope you are all doing well and having a nice October.  Be healthy and happy.

October 13 2009

Kim Isaac Greenblatt

What Should I Study In College?

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College Students Don’t Clobber Parents At Tax Time Please

Saturday, February 21st, 2009

A common scenario at tax time is for students away at college (or even students living at home) to go ahead and file their tax returns on their own as a proclamation of independence. Even more importantly, they are doing it to get the tax stimulus rebate checks from last year. Please don’t do that without checking with your parents, especially if you are living at home and extra-especially if they are paying your college tuition. Getting the $300 in incentive money might blow them out of the water not only in terms of losing the dependency exemption they take from you but also in terms of any college deductions (Lifetime Learning, Hope Credit or Tuition and Fees). Parents and adult children of college age of the previously mentioned parents, please take the time to talk about filing and income taxes before you jump in. If the student has already filed and taken their own exemption, have them do an amended tax return (Form 1040X) for the Federal return and whatever you need to amend for your respective state taxes (in California for example it is 540X).

You will need to mail in your amended return for them claiming zero exemptions for the student on their own return and then mail in the parents return claiming the student. It will take a few months to get things straight but it will happen.

Also for parents who are taking daycare deductions, for the state of California you will need to have not only the employee identification number or social security number  for the person caring for your child (or children) but their

phone number with their address as well.  You will also need to take into account how much time the actual child lived in your house throughout the year.  That is an important issue for separated parents or people who are divorced who are splitting the benefits of a child due to a court order or the divorce settlement.

In other news, the supply destruction of jobs and resources is continuing with more companies laying off workers and shuttering production facilities until things pick up. Make sure that you are aware of your surroundings at work and if you aren’t starting to save an emergency fund – get started on it just in case your business is next.

Have a good weekend.

 

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  Practical Money Making-Surviving Recession, Layoffs, Credit Problems, Generating Passive Income Streams, Working Full Time or Part Time and Retirement

 Kim Isaac Greenblatt

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Ten Money Making Tips for College Students For the Holidays

Friday, December 5th, 2008

1.   Start planning where you will work for other holidays now.  Yes, it is too late (maybe not but I am a realist)  for Christmas time now but start thinking about where you want to work (if you aren’t going to be around campus) for Spring Break.  If there is an internship or particular job that you want – start looking now.  Depression or not, there will be work out there somewhere.

2.   Cash in on natural talent.  If you can sing, dance, juggle, or balance a cat on your nose, think about doing work as a sales person or waiter.  If places are hiring, they want people with talent and a lot of companies will hire people after making them go through an actual audition.  Besides the craigslists of the world, check out advertising local pennysavers, notes on supermarket bulletin boards and school bookstores.

3.  Be the first to hit up professors and anybody on campus for work.  Whether it is baby-stting, sleep depriviation studies or just to set up chairs for the holiday alumni dance, if they are looking for work in the student body pool of talent, get in early and say that you are available.

4.   If you are honest, offer to do odd jobs and chores for neighbors around the campus or your home.  People may be swamped for the holidays and need somebody to mow their lawn (West Coast), shovel their driveway (Midwest) or replant their soil (anywhere where rain or winds have massacred their land).

5.   Offer to teach something that you do well inexpensively.  There may be people who want to learn how to draw.  Start using your artistic chops (if you have them) to teach people how to do that.  Even better if you have practical chops like masonry or plumbing.   Offer to do that kind of work for an inexpensive rate plus parts if they don’t want to take the time to learn from you.  The truth is, with people saving money, they will learn practical skills from you faster than creative skills.

 

 

6.   Clean out that closet and ebay anything that you haven’t used in five years.  Unless there is some real tight attachment or a lover or parent bought you something, get rid of it while people are thinking of buying (at least a little).

7.  As a follow-up to number 6, for big items – garage sale.  Get the signs out and have a yard or garage sale and get rid of all that crap that is in good shape that you can still sell.

8.  Look for seasonal driving jobs if you have a good driving record.  There will be a LOT of heavy drinking this holiday season and there will be a big need for designated drivers.

9.   Offer to clean up after a party or parties for a reasonable fee.  A buck is a buck – just get the ground rules and cost before you start work.  Lots of people like to throw holiday parties but they hate clean up afterwards.

10.   Recycle for cash all those bottles and cans that you have been collecting and while you are at it, turn all that loose change (if you have any) into cash.  Don’t use the Coinstar machines that charge a whopping 7 plus percent interest (I’ve seen it higher) and try to roll your own coin and take it to a bank to cash or deposit.

These are just a start.  Let me know how things work out for you and any more ideas you have.   Best of luck for the holidays!

  Practical Money Making-Surviving Recession, Layoffs, Credit Problems, Generating Passive Income Streams, Working Full Time or Part Time and Retirement 

Kim Isaac Greenblatt

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