Those whose husbands make $200,000 or more, what do they do?

seeker

Sun, Oct 05 2014, 4:01 pm

amother wrote:

I will tell you that when we lived in Riverdale, SAR told us they would not give us financial aid (K was over $15K) because of my husband's future earning potential. He was in his medical training at the time.

What the which? How does future earning potential enable you to pay tuition today? Who makes these policies?! I hope you found a better option!

amother

Sun, Oct 05 2014, 8:26 pm

My husband doesn't have a degree but he's earning over 200,000. He is a manager in a factory. He was very lucky to land a low paying the job in the company and then through honesty, integrity and really hard work he was picked to be promoted a few times over years. He works probably 80 hours a week, but is a really great Shabbos tatty!

amother

Mon, Oct 06 2014, 7:41 am

We're on track to be making $200k combined when my husband finishes school and I honestly don't know how we'll pay tuition with that income when we have more than one kid because that income doesn't allow for scholarships without a really large family or extenuating services. Just the 3 of us are living paycheck to paycheck without any luxuries (ok we do get take out when I work too late to cook but I leave before dawn and get home late evening which makes cooking really difficult but I need to work so...).

And I don't get why anyone is being so hard on sahm who is a lawyer. You all have these great ideas for how she can work at least part time to make a lot of money but I can think of at least as many ideas to help you get through law school so you can do the same. She shouldn't be penalized because she was able to do something at a prior point in her life that she can no longer do.

sky

Mon, Oct 06 2014, 10:02 am

amother wrote:

You all have these great ideas for how she can work at least part time to make a lot of money but I can think of at least as many ideas to help you get through law school so you can do the same. She shouldn't be penalized because she was able to do something at a prior point in her life that she can no longer do.

I love this.

amother

Mon, Oct 06 2014, 10:39 am

I posted this before, but see it did not go through. I personally know people in the following professions that make over $200,000 without college education.

1. Mortgage Broker
2. Real Estate Broker
3. Real Estate Developer/Investor
4. Dental Office Manager / Consultant
5. Title Search
6. Paralegal
7. Investment Advisor
8. Short Sale Specialist
9. Box Producer
10. High End Car Service / Limo / Medical Transport [Owns Company]
11. Insurance Broker
12. Corporation Formation & Legal Documents
13. Grocery Store Owner
14. Restaurant Owner

Many of these require capital, and for every one of these people there are many others who are not able to support themselves: Don't get the wrong idea.

amother

Mon, Oct 06 2014, 10:59 am

MaBelleVie wrote:

We can keep pretending that part time work from home options abound for lawyers... Or we can be real and admit that it isn't possible to the large majority of people.

We can also talk about schools that inflate the tuition rate so that parents are either forced to subsidize others, or request a reduced rate and be made to feel guilty that they're accepting charity. It is practically unheard of for an institution to consider a person's earning potential vs actual income. That's a practically impossible undertaking anyway because the variables are so complex.

Work from home for attorneys? Rare.

Jobs were attorneys can make a good income without working 16/6? That's most jobs in law.

The poster could look into government jobs. In house jobs. Jobs with smaller firms. Jobs outside of large cities (including jobs in suburbs of large cities). Jobs in academia. Per diem positions. Temp jobs in document review. (It may not be the most interesting thing on earth, but I have a friend who does very well with that and it gives her a chance to travel.) Starting her own firm doing things like residential real estate closings.

So let's not pretend that the choice is between working from 7 am until 11 pm every day and making $200,000 a year on the one hand, and staying home and accepting charity to put her kids through school on the other. There's a world of opportunity in between.

And yes, I do believe that financial aid calculations should be made with an income attributed to a stay at home parent who is not caring for a disabled child or parent, to even the playing field. It will result in more aid to those who are struggling, and incentivize working for people who could do so.

amother

Mon, Oct 06 2014, 11:11 am

seeker wrote:

What the which? How does future earning potential enable you to pay tuition today? Who makes these policies?! I hope you found a better option!

My children are at SAR.

The tuition committee is willing to work with people to ensure that people can attend the school.

That means that they have been willing to take into account my husband's medical condition, which makes it likely that he will have to take an early retirement, and give us financial aid that takes into account our future needs.

They've worked with low income, single parent families to ensure that their kids could attend the school.

I obviously don't know the poster's story, or what was said to her, but its really not fair to bash a particular school based on the experience of one person.

amother

Mon, Oct 06 2014, 11:19 am

Maya wrote:

You know a paralegal who did not get an education and makes over $200,000?

I know several that also do. I know some that act as attorneys setting up trusts and preparing documents for court filings. I know one that does blue sky work and another that prepares coop filings. All these people are practicing law without a license and getting paid cash.

amother

Mon, Oct 06 2014, 11:28 am

amother wrote:

If you ask the parents who subsidize SAHMs who are capable of working but choose not to if they would voluntarily give several thousand a year, no one would choose to do so.

I am a SAHM and a former practicing attorney. The difference is I can afford to be without being a burden on other parents. I never lived large and saved my money. Instead half of my tuition dollars go to pay other people's tuition bills. I don't begrudge a penny in the case of a misfortune or some one involuntarily not being able to meet their tuition, I would rather not pay for someone who is choosing not to work at all.

Maya

Mon, Oct 06 2014, 12:29 pm

amother wrote:

So they're not paralegals, they're frauds. Don't call them paralegals and say they make $200K. Average annual earnings for real paralegals is about $50K. With a college degree.

amother

Mon, Oct 06 2014, 12:39 pm

Maya wrote:

So they're not paralegals, they're frauds. Don't call them paralegals and say they make $200K. Average annual earnings for real paralegals is about $50K. With a college degree.

I'm the first amother who posted about a paralegal with over 200K in annual income. She is not paid secretly in cash. It's all done legally. I would not call her a fraud at all. She is just BH very lucky. The big attorney she works for in Manhattan told her not to get a degree because she is so business savy and successful he feels it would actually hinder her by costing her money and hours now when she is making money, legally.

amother

Mon, Oct 06 2014, 1:33 pm

amother wrote:

Thankfully that's not your decision to make because your bills are for your own kids tuition. However the school decided to break it up (percentage to subsidize other students etc) is their own cheshbon and none of your concern.

ectomorph

Mon, Oct 06 2014, 2:00 pm

I'll let the lawyers talk about the job market. I have an acquaintance with a job in a small firm - that person works just as hard as my husband does, but only brings home 60k a year.

amother wrote:

All the people you listed are in unusual situations. Getting a paralegal degree wouldn't help most people pay tuitions.

I've heard of someone who earns 100k a year as a preschool teacher (her official title makes her director of something, but basically she's a preschool teacher.) Her uncle subsidizes the salaries. Doesn't mean that most preschool teachers are earning that much, or that preschool teaching is a good job to get into.

And many more people ruin their financial lives with investing capital into a new business, than strike it lucky and are able to support themselves with a business, even when they do it full time.

amother

Mon, Oct 06 2014, 2:02 pm

ectomorph wrote:

I'll let the lawyers talk about the job market. I have an acquaintance with a job in a small firm - that person works just as hard as my husband does, but only brings home 60k a year.
All the people you listed are in unusual situations. Getting a paralegal degree wouldn't help most people pay tuitions.

I've heard of someone who earns 100k a year as a preschool teacher (her official title makes her director of something, but basically she's a preschool teacher.) Her uncle subsidizes the salaries. Doesn't mean that most preschool teachers are earning that much, or that preschool teaching is a good job to get into.

And many more people ruin their financial lives with investing capital into a new business, than strike it lucky and are able to support themselves with a business, even when they do it full time.

I honestly don't even understand where this comment is coming from. In my original post I clearly stated that the people I'm referring to are exceptions and that for every one of them there are others who are struggling to pay for the necessities, so you are arguing a said point???