hypothetical scenario

[jims69camaro]

the following is purely hypothetical. it has no relation to any living person and is purely fictional (a daydream, if you will).

let's say you had a decision to make. the two choices are: go to school for a 4-year degree, all expenses paid; collect a windfall to the tune of $400k. you can only choose one, as choosing one will negate the other. also, you would be expected to work in the field you choose to be educated in; the windfall would be enough to retire on if invested wisely (also, you can't work after the windfall and going to school would be a waste of time since you'd be unable to use that education).

which do you choose and why?

[Knipps]

What's the age of the hypothetical individual? in the current economy?

[NJ Torque]

Money.

[Untamed]

Education. In this economy, investing doesn't guarantee you enough money to live off of. You would need far more than 400k to generate enough interest to cash in on a regular basis for living expenses.

[bubba428]

I'd go with the cash and a job like what i'm doing...If I could collect 400k and keep my job...I'd be set

[PolarBear]

I'd go with the cash and a job like what i'm doing...If I could collect 400k and keep my job...I'd be set

WINNER! :axe: first person to say something that goes outside the boundries of the set rules

[NastyEllEssWon]

give me the money. ill move to amsterdam

[LTb1ow]

400k, buy a lot of cocaine and make profit.

[jims69camaro]

I'd go with the cash and a job like what i'm doing...If I could collect 400k and keep my job...I'd be set

notice above i said if you take the windfall, you can't work.

for argument's sake, the person is an adult between 25-40.

[jims69camaro]

400k, buy a lot of cocaine and make profit.

and while you're in jail, you lose all of the windfall? not very smart.

[jims69camaro]

Education. In this economy, investing doesn't guarantee you enough money to live off of. You would need far more than 400k to generate enough interest to cash in on a regular basis for living expenses.

but an education does guarantee you enough money to live off of? that's quite a stretch. i know college graduates working at mcdonald's.

as i see it, 400k in a nominal interest, fairly risky money market fund returning 10% is 40k per year. if you don't spend all of it, then you are adding to the principal every year instead of depleting it.

let's throw another variable in, since amsterdam came up. you do have the option of moving to another country, where the cost of living is considerably less than it is here. say, 25% of what it takes to live here, for the sake of the argument. mexico, in addition to other countries, falls into this category, so don't think it's far fetched to live in a country where it costs only 25% of what it costs to live here.

[Featherburner]

I'd go with the cash and a job like what i'm doing...If I could collect 400k and keep my job...I'd be set

Since we're going outside of the rules, might as well go big...If I could collect 400k and hit the lottery for 6-8 million...I'd be set.:rofl:

[LTb1ow]

and while you're in jail, you lose all of the windfall? not very smart.

You can't catch me Im the ginger beard man!

[Featherburner]

You can't catch me Im the ginger beard man!WTF?

[JL8Jeff]

Since the school is paid for I would get a good education and then hope to find a solid job. If you had to pay for the school, it would be a different story.

[NastyEllEssWon]

notice above i said if you take the windfall, you can't work.

for argument's sake, the person is an adult between 25-40.





thats why i said ill move to amsterdam. i'll volunteer my free hours to working in a coffee shop. :nod:

[WildBillyT]

Tough call. 400k is only "OK" in NJ as far as housing. If I went that route I've move to out west where the cost of living is way lower.

[Knipps]

@ 25-40 I'd go for school.. wait, I did.

[SamhainZ28]

400k, buy a lot of cocaine and make profit.

I'm with this guy

[NJSPEEDER]

It would depend on what the stips of "not working" are. Does this mean not being allowed to work in my previously chosen career or that I have to become mega couch potato?

If the idea was that I had to give up some kind of active career like I have now and figure out something that required sitting around, I would take the money.

If the concept was that I wouldn't be allowed to work at all, I would take the education.

-Tim

[rscamaro73]

Sounds familiar to a guy I knew in the military.

Medically discharged, couldn't work and they'd send him to school, free ride.

No 'lump' cash though. More of an 'insurance' bit to me....but I digress...

Under age 40 - even at the MINIMUM age of 40, you'd still have 20 years (and some change) to get vested in a company with your new employment.

And unless you KNEW someone in the stocks/market game that could help you out investment wise, you're NOT going to make $40K/yr on interest.

So, unless you took the money and 'started' a business where your only role was 'owner' and you collected 'dividends' 8-), then I say get some pens and pencils and a nice new backpack and go to school.....

[jims69camaro]

It would depend on what the stips of "not working" are. Does this mean not being allowed to work in my previously chosen career or that I have to become mega couch potato?

If the idea was that I had to give up some kind of active career like I have now and figure out something that required sitting around, I would take the money.

If the concept was that I wouldn't be allowed to work at all, I would take the education.

-Tim

yeah, working is defined as being somewhere where they pay you to perform certain duties within and without of your job description. so that's out.

it's interesting that you worded it that way: If the idea was that I had to give up some kind of active career like I have now and figure out something that required sitting around, I would take the money. about the only job that i can think of that would be sitting all of the time is either a middle-management type position or computers.

if i chased a career in computers i would more likely than not need more than a 4 year degree. i don't know if that would be in the offering of the education side of the decision.

[NJSPEEDER]

Education is a tricky thing to rely on. 75%+ of Americans with a degree, do not work in their degree field. So if you want to commit yourself to education, it would be better to make the primary degree in something more generic that can be resume'ed into anything. Let the concentration or skill part of the education be the secondary focus.

If you are into computers, think about getting a BS in business management and make computer sciences/networking/nerdtasticalness your minor. You apply all of your electives/gen eds from the computer side of the universities selections and grab any certifications you can along the way.

This will maximize the number of angles you have to enter any particular company and the appeal of a more mature person that can both come into the job at entry level and has been taught to lead will get more attention than some kid who just took Microsft certs and expects to get by on that.

If taking the money means never getting paid again, I would have to take the education. The money isn't as immediate, but the long term is much much better.

-Tim

[JerzyIroc]

I'm with this guy

X2

or move to puerto rico. Still be a US resident but with a crazy cheap cost of living. Beaches all day all year. awesome racing all day all year. beautiful girls all day all year. man. it would be sweet... :-D

[pound]

Take the education. Get a 4 year degree in cs or ee and have fun making 75k- 100k a year for the rest of your life.

[LTb1ow]

X2

or move to puerto rico. Still be a US resident but with a crazy cheap cost of living. Beaches all day all year. awesome racing all day all year. beautiful girls all day all year. man. it would be sweet... :-D

And you guys thought I was crazy.... 8-)

[JerzyIroc]

LOL. What's so crazy about that!

[jims69camaro]

X2

or move to Costa Rica. Still be a US resident but with a crazy cheap cost of living. Beaches all day all year. awesome racing all day all year. beautiful girls all day all year. man. it would be sweet...

And you guys thought I was crazy.... 8-)

A) fixed.
B) nothing wrong with that at all. the only strings being my wife's family: two sons still living here, mom&dad may go when we go, sister still living here (the one she's closest too, to boot).

btw, this is still all a daydream. i appreciate the responses because they have touched on things that i hadn't thought of or contain small pieces of info that will help in my decision.

basically, i was just tested for cognitive ability and behavior. natch, i scored off the chart in cognitive ability with a strong trend toward memory (remembering things that had nothing to do with each other). i had thought that my brain was fried, but these tests show that i still have it.

since i started life as a computer programmer, hired right out of high school, it is only natural that that will play some part in my future, whether it be major or minor. i already have a strong innate ability to get people to do what i want them to do (10 years as a manager) so business management may play a role, as well. interesting to note that the two things i excel in can be combined to form a solid resume. and, of course, i would list my previous experience and have to explain it during an interview.

but i do have a good recommendation from the testing doctor, which will be forwarded to Voc Rehab. the case worker i got assigned to is the team leader at the site, and she has basically stated and implied that whatever i decide to do she will endorse. i've never had an opportunity like this before, where someone has basically said here's a blank check, do what you want to do, so i am kinda in a spin over it. the decision between the money or the education will obviously affect the rest of my life.

there is also a possibility that i cannot complete schooling due to the physical aspect, and then we would basically be right here again, where the court would have to decide if i am really employable and faking it to get the money or if i am truly 100% disabled (4 doctors surveyed). i don't know how anyone in their right mind could think i was faking this after the surgeries i've had, the meds i take everyday and the computer i have implanted in my back... why would anyone subject themselves to so much pain just for the money?

[PolarBear]

why would anyone subject themselves to so much pain just for the money?

This is America, remember the hot coffee lawsuit :-x:shock:

[mc73nova]

the following is purely hypothetical. it has no relation to any living person and is purely fictional (a daydream, if you will).

let's say you had a decision to make. the two choices are: go to school for a 4-year degree, all expenses paid; collect a windfall to the tune of $400k. you can only choose one, as choosing one will negate the other. also, you would be expected to work in the field you choose to be educated in; the windfall would be enough to retire on if invested wisely (also, you can't work after the windfall and going to school would be a waste of time since you'd be unable to use that education).

which do you choose and why?

My question is why you wouldn't be able to work after you collected it?

I would take the cash but I am curious about that^^^^

[Tru2Chevy]

My question is why you wouldn't be able to work after you collected it?

I would take the cash but I am curious about that^^^^

Because the entire reason *you* are getting the money is because you are no longer able to work....

- Justin

[mc73nova]

Well to be completely honest if that was the case, I would have to be put in that situation to decide. That is extremely difficult decision. I always regret not getting a college education because I couldn't afford it. I also have never seen that much money and pray one day I will be lucky enough to say I have. So, my answer is, I don't have one. Either way, they are two very good roads to travel down and if used wisely can benefit *you* significantly in the future.

[jims69camaro]

And you guys thought I was crazy.... 8-)

Well to be completely honest if that was the case, I would have to be put in that situation to decide. That is extremely difficult decision. I always regret not getting a college education because I couldn't afford it. I also have never seen that much money and pray one day I will be lucky enough to say I have. So, my answer is, I don't have one. Either way, they are two very good roads to travel down and if used wisely can benefit *you* significantly in the future.

exactly how i feel... i am not one to air my laundry in public, but i just had to get some input on this thing before my head exploded. and it really is an either/or situation. of course, i could take the cash and put myself through school... no, now i've done it, too many options. i'll be cleaning my brains off the monitor if anyone needs me.

:mrgreen:

[LTb1ow]

But if one takes the money, and then goes to school, what good would it do them if they can't work after school?

[jims69camaro]

But if one takes the money, and then goes to school, what good would it do them if they can't work after school?

well, it would be for my own edification at that point. i've always wanted to "school learn" something that i always had a natural ability to do.

[jims69camaro]

oh yeah, and once i get paid i will be living in another country. not immediately, but shortly thereafter. who's to say what i do when not under the watchful eye of big brother?

[rscamaro73]

oh yeah, and once i get paid i will be living in another country. not immediately, but shortly thereafter. who's to say what i do when not under the watchful eye of big brother?


Depends on if you become a 'resident' of that country and/or maintain permanent residence full time and become a 'citizen'. Once you give up your US citizenship, they can't touch you (if you go that route).....but honestly....out of the country is out of US territory :)

regardless.....good luck. :) I wish the best for you (and I don't think we've ever even met). 8-)

[Knipps]

hmm.. Interesting proposal.. guess my dual citizenship would come in handy in that situation :lol:

[jims69camaro]

hmm.. Interesting proposal.. guess my dual citizenship would come in handy in that situation :lol:

indeed.

however, they are phasing that out. it is not possible for a US citizen to become a citizen of another country and still maintain their citizen status here. they want you to either stay a US citizen or get the hell out. and those coming in are no longer being given a choice to stay a citizen of their own country after they become a US citizen.

i don't get the government anymore, which is part of the reason why i want out. the only thing that would be impacted would be my social security, but they are thinking about tightening their belts and sharply reducing benefits for disabled people to make sure there is enough money for the retirees (since the number is growing exponentially with the baby boomers now reaching the age of retirement).

so, if they do away with SSD, or reduce it to a point where i wouldn't have any use for it, then i would have to think about opening a little bodega in CR in an effort to keep the cash coming in.

[NJSPEEDER]

Funny how they say your in or your out when someone wants to come into the country and be a part of this great nation, but if you jump a border and work in a sweat shop you can have all the benefits you want for free. Just another said example of why political parties suck.

[Knipps]

indeed.

however, they are phasing that out. it is not possible for a US citizen to become a citizen of another country and still maintain their citizen status here. they want you to either stay a US citizen or get the hell out. and those coming in are no longer being given a choice to stay a citizen of their own country after they become a US citizen..

Really? My mom had put off US citizenship because they wouldn't allow her to have dual. They finally changed their minds somewhere along the line and now she's just knee deep in paperwork to do so.

[jims69camaro]

Really? My mom had put off US citizenship because they wouldn't allow her to have dual. They finally changed their minds somewhere along the line and now she's just knee deep in paperwork to do so.

it was a policy change in line with the patriot act. it's not a law, just a policy or guideline that they use. sure you can do it, but like your mom, you get swamped with paperwork that needs to be filled out in triplicate. they had computers in the office right next to their typewriters (cause of the thickness of the paperwork, some had to be typed).

it also depends on the case worker and what kind of mood s/he is in and how much work s/he wants to do for you. sounds like you got a good one. he isn't viet-namese by any chance, is he?

the patriot act had a rippling effect through many state and local governments as well as federal. the TSA got so much flak for the way they were treating people that they had to make some consessions, but really quick. they change their policies so much i can't keep up with them. i just check all of my baggage and don't try to carry anything on board.

[jims69camaro]

so i am sure some of you would like to know the outcome. if you don't, just hit "back" to go back to the forum menu.

Voc Rehab has stated that "it is highly unlikely that he would be able to be retrained and by extension unable to work", which i paraphrased but used quotes because it comes close enough. so, as far as the worker's compensation court is concerned, i am 100% disabled with no chance at retraining at this point in time. Voc Rehab went on to say that if i was retrainable, i would need a scooter or powered wheelchair and vehicle modifications in order to transport the scooter to school. that there is a chunk of money, for those that didn't know that the scooter store (from TV) routinely sells scooters in excess of $3000. them things ain't cheap.

now, there is a silver lining in that thunderhead of a cloud: regardless of the outcome of the worker's compensation case, being eligible for social security disability, which i am, automatically makes me eligible for state sponsored education. i can have my cake and eat it, too. she told me to come back after the worker's comp case settles and try a class or two, just to see how i can handle it. i said the last time i was in class was early 2000s or so, and although i never completed a class i have passing grades for the two i was in (imagine never taking a mid-term or final and still scoring high enough for a passing grade... yeah, i am that smart :mrgreen: ).

however, the WC case may still take a while to settle, so i am in limbo until then. just like always, it seems. but the cool thing is i have patience, and the wife and i have tightened our belts sufficiently to withstand 10 more years at this pace, while still living very comfortably.

there you have it. i never would have imagined it being a multiple choice question...

[cdacda13]

Well, you sure lucked out on that one. (Besides the obvious pain and suffering and all that jazz)

Good luck with everything.

[Saitin]

in a place such as NJ where an average house costs 400k I'd take the education over the cash now if it was say 500k-1mill there would be other things to consider but 400k is jsut to little of cash to get at once and expect to never work again,just do the simple math rent,bills,food, entertainment the average person spend nearly 30k a year so that 400k would get you what 12 years and that isn't enough to live on until retirement.

[Anti_Rice_Guy]

We'll cross our fingers and hope your WC case goes as well

[Saitin]

lol i got bored and didn't read past the first page before I posted my reply but thats still my opinion

[jims69camaro]

We'll cross our fingers and hope your WC case goes as well

thank you. and thanks to all those who have wished me well with this. it's been a never-ending nightmare. thankfully this, too, shall pass and we'll see what an old fart can learn in college.

there is a dollar limit, but it's actually quite liberal and i am sure i could roundup a school or two that can teach me engineering of some sort. that's the plan, since i would in no way would i be able to complete a hands-on job training situation. this is all coming from the case worker. she's been there for a while and has seen a few cases, so i trust her implicitly.

[LTb1ow]

thank you. and thanks to all those who have wished me well with this. it's been a never-ending nightmare. thankfully this, too, shall pass and we'll see what an old fart can learn in college.

there is a dollar limit, but it's actually quite liberal and i am sure i could roundup a school or two that can teach me engineering of some sort. that's the plan, since i would in no way would i be able to complete a hands-on job training situation. this is all coming from the case worker. she's been there for a while and has seen a few cases, so i trust her implicitly.

Engineering FTW!
Good luck!
You could be a tutor for dazed and confused mechys! :mrgreen:

[Anti_Rice_Guy]

thank you. and thanks to all those who have wished me well with this. it's been a never-ending nightmare. thankfully this, too, shall pass and we'll see what an old fart can learn in college.

there is a dollar limit, but it's actually quite liberal and i am sure i could roundup a school or two that can teach me engineering of some sort. that's the plan, since i would in no way would i be able to complete a hands-on job training situation. this is all coming from the case worker. she's been there for a while and has seen a few cases, so i trust her implicitly.

You going to dorm on campus? :lol:

[jims69camaro]

You going to dorm on campus? :lol:

nah, 'cause then i would be keeping someone else from being BMOC. ;-)

my BMOC days are way over. :mrgreen:

[Anti_Rice_Guy]

nah, 'cause then i would be keeping someone else from being BMOC. ;-)

my BMOC days are way over. :mrgreen:

Weakkkkk excuse