Ask MetaFilter questions tagged with income

There's a sure-as-shooting sucker born a minute, but Ma'am you mighta been the minute in between.

Anonymous — Tue, 10 Nov 2009 10:10:19 -0800

She spent $8,000 at a seminar on an "internet business opportunity". Now what? My mother-in-law is bright and professional (she has been a CFO for 30 years), but one day last month, she informed us that she had attended a seminar and wanted us to be partners in her new internet business. She had already given them $7,000 for their "platinum professional package", which includes web site construction and all of the training she needs to market her web site. I agreed to help her get something started and went to work researching the company and found out easily by Googling that they have an F with the BBB and hundreds of unhappy customers who never made the six figures they were promised. She did not seem to think that this information was important to her situation, since she is obviously smarter and more motivated than the people who failed with their sites.

The next weekend she went to another seminar and they got $1,000 from her for "business development", which includes walking her through incorporating, setting up a merchant account and tax advice. Then, last Saturday, in a conference call with the two of us, their "success team" mentor convinced her to give her credit card number for another $15,000 charge for "coaching" us through the entire process step-by-step, doing all of the SEO, and a warranty that she would make her investment back in six months. I immediately convinced her to cancel the contract and get the charge reversed. I explained that if we need this part of their services later, we can always call them back and order it later when we can get something in writing and it's not just an impulse buy. She now has some understanding that they have been using high-pressure sales techniques on her to sell her things she did not need.

I am tip-toeing around this because I absolutely do not want to make her feel like she did something stupid. (Back-story: when she encouraged my developmentally disabled little sister-in-law to marry someone she knew for 5 weeks, who needed a green card and we strongly protested, the result was a two year rift and little sister being banned from speaking to us. Yes, he abused her and they are divorced already and he's been deported). So, she sometimes gets lost in hope and deep denial and I want to make sure she doesn't lose everything in the process.

I am committed to helping her build some kind of online business. I am sickened by the idea of giving this company any more money, but I know the high pressure salespeople will continue to call her because she's a good mark. (Side note: the company is in Utah, entirely Mormon and contributes a lot to Mormon politicians. I don't want any money going to fund anti marriage equality efforts ugh!)

She understands that it could take years to build an online presence and longer than that to recover her investment. She is looking for something to supplement her income and keep her busy after she retires. She is willing to take a loss on the $8,000 and not use this shady company, but is still really excited about the idea of starting from scratch to do this right. She trusts me completely at this point and is letting me take the reigns of the whole project. So, what now?

What can I tell her is a more realistic amount of money to spend on building an online store in one of the niche product areas she's interested in (green or pet products or green pet products)? I've found many quality drop-shippers and I've spoken to them on the phone and feel that they are legitimate. Is it even possible to build a business this way that can eventually bring in a regular monthly income?

How can I learn more about the process so that I can protect her from being further exploited? And how can I assertively protect her money without making her resent me? What other questions should I be asking?

Deflated by inflation

Anonymous — Mon, 26 Oct 2009 14:05:50 -0800

[Economics101Filter] How is it that the cost of living can go up, but salaries stay the same? Economics n00b questions inside. I've been away from the States for about 10 years. I come back, and am naturally shocked by how much more expensive everything has become. (FWIW, I live in NYC.) For instance, a diner meal for me was always under $10; now, breakfast is easily $15.

I was lucky enough to be able to land a job right away in my old sector. I was shocked a second time when I saw that salaries, as well as vendor costs, have stayed _exactly_ the same. (E.g., the average project/account manager's salary is around 50K - precisely the level I was at as a 3-year "veteran" when I left 10 yrs ago.)

Question: how does this work, exactly? Are people just living shittier lives? Eating out less (but this is New York!) Is this true across different sectors? Or is it just endemic to my sector? Will it eventually balance out? Is it just a sign of the times? Please enlighten this economics n00b!

(Anonymous because I feel too stupid asking these questions, and also because I don't want to announce my salary level to the entire world.)

Do you have to pay taxes on money paid during a seller rent-back?

unclezeb — Tue, 29 Sep 2009 21:31:20 -0800

You buy a house in California. You agree that the seller can stay up to 2 months after escrow closes (a "seller rent-back") if they make your (PITI) payments. Do you need to pay income taxes on the money they pay toward your PITI? Also, what was your "seller rent-back" experience? We are buying a house in California. The sellers (who are very nice) want the option to rent the house beyond closing while they look for a house to buy (e.g., a seller rent-back or Residential Lease After Sale [RLAS] agreement) for up to 2 months. If they stay beyond escrow, they will pay our PITI, say $100/day for the sake of convenient calculations.

Suppose they stay 20 days and pay $2000 toward our PITI during that time.

Is that $2000 considered our income for tax purposes? In other words, would we (in the 25% federal and 9% state tax brackets) need to pay taxes on that $2000, effectively reducing it by one-third?

I understand we can deduct our interest and mortgage insurance payments from our taxes, does that mean this comes out in the wash?

What was your experience with a "rent-back" or a Residential Lease After Sale agreement?

An acceptable answer to a salary inquiry?

Anonymous — Mon, 07 Sep 2009 16:36:47 -0800

How do I respond to an interviewers salary questions? In just a few days I have an interview with another company. From past experiences I know that at some point I will be asked what I currently make. This normally wouldn't be a problem but I am hesitant to do so with this interview.

I know that in this new but similar role you generally make at least 20k more than what I make now. That's a fact. What I fear is that I may low-ball myself and drastically reduce my earning potential if I tell them, even though I am just as qualified as everyone else. This is assuming everything goes well and I get an offer.

Should I not answer with a number and just tell them it's negotiable?

Should I exaggerate my current salary to something closer to their standards?

Right now I am leaning towards the negotiable option but it's not set in stone.

Help me avoid spending like a sailor on shore leave

Anonymous — Wed, 05 Aug 2009 14:09:35 -0800

What are some tips on wisely handling an increase in income? I know - good problem to have. Recently I switched positions and am now making about 150% of my former salary. This is great news, but because of my financial history, I want to be careful about it and use this newfound income smartly.

I'm carrying credit card debt, so my highest priority is to use most of the new income to pay that off. I'm setting the goal of doing that within two years. But even at that rate I will still have a bit more disposable income than I do now. I'm worried that I'll fritter it away because I can - after several years of skimping on the basics, there's a temptation to loosen the purse strings a little and buy more things on impulse, eat out because of laziness, and that kind of thing.

I'm having a hard time deciding on budget line amounts for things like clothing (I haven't had a new winter coat in ten years, and need shoes), groceries (right now I average around $50 a week, but would really like to spend a bit more so I don't face Rice Days at the end of each pay period), and entertainment/recreation -- right now I spend about $50/week on nonessentials like eating a meal out, having a couple of beers, going to a show or a fair, or renting a couple of movies. I don't own a home, and one day might like to, but saving for that would come after debt repayment. In general I value experiences more than stuff. I really like feeling secure and look forward to an increased sense of financial preparedness.

This new income could make possible things like taking classes, participating in sports that require equipment buys, traveling a little more, etc. I'd like to take advantage of some of that purchasing power to experience things I've missed out on - but how can I do so responsibly and in good conscience? What boundaries should I set?

I'm very used to stretching a meagre budget creatively - but as a result, I know a lot less about managing money that you have enough of than money that's always a teeny bit shorter than you'd like.

I will be setting aside an employer match for retirement, doing a debt snowball, and starting a savings account with auto deposit. What else should I consider? Have any of you managed such a change? What helped you set spending boundaries? How did you determine what was reasonable?

Present Value of descendants' income.

RobinFiveWords — Thu, 11 Jun 2009 11:32:47 -0800

Help me estimate the present value of my descendants' income. I'd like to calculate a dollar amount that represents the present value of all money that will be earned by an average person living in the United States and all his/her descendants.

The general model that I'm using involves a few assumptions.
1. The ratio of members of one generation to the next is constant.
2. The number of years between generations is constant.
(In other words, each individual has X children immediately upon turning Y years old.)
3. Each individual has the same earning history.
(Starting to get technical...but basically, my grandkid works the same jobs as me at the same ages, and gets paid the same inflation-adjusted salaries.)
3a. Because each individual has the same earning history, each individual's lifetime earnings can be reduced to the same single sum (before taking inflation into account) by discounting all earnings to the start of that individual's career. The point of this isn't really to perform the discounting calculations, but to decide that a single dollar amount can be used to represent each individual's lifetime earnings, making the specifics of the "earning history" irrelevant.
4. The interest rate is constant.

So I now have three variables -- Number of Offspring, Years Between Generations, and Interest Rate. I can figure out a reasonable present value of lifetime earnings for a single individual today, and I can use this as a starting figure for the value of each future individual's lifetime earnings. Now on to my questions:

i. Do I need to add another variable for Inflation Rate, or can I simply choose an Interest Rate that is net of inflation? If I do add a separate Inflation Rate variable, are these the correct uses: Discount Rate = Interest Rate minus Inflation Rate ; Generation 1 lump-sum lifetime earnings at year Y = (Generation 0 lump-sum lifetime earnings at year 0) * (1 + Inflation Rate)^Y ?

ii. The model I've chosen assumes the median, in a sense -- it ignores individuals that don't reproduce as well as those with large families, wealthy as well as penniless, work until old age as well as not-a-day-in-one's-life. Does this introduce significant inaccuracy? Are there any other aspects of the model that introduce significant inaccuracy?

iii. What are reasonable values for the indefinite future for the variables of Number of Offspring, Years Between Generations, Interest Rate, and Inflation Rate? The two rates are going to be the biggest factors in the calculation, and I have the least sense on reasonable estimates for these two rates.

Self-Employment for dummies

explosion — Tue, 09 Jun 2009 06:13:06 -0800

(Self-employment-Filter) What should I know about / be aware of when contracting for a local university? I know you're not my accountant, so I'll get that out of the way now.

I have been temping at a local university in my current position for close to 6 months as an assistant in an administrative capability. My boss is leaving at the end of the month, and I am effectively taking over her job, but there's a snag: due to the economy, there is a campus-wide hiring freeze. I've been temping in total for closer to 20 months, so at this point I would like to cut out the middleman. Even after paying the employer half of payroll tax, the difference in gross pay is substantial enough to make it worth my time.

I will be meeting with my boss's boss to discuss employment arrangements, and at that time, I would like to propose that the department pay me directly as a contractor, paying me the same rate (or maybe slightly more to reflect additional responsibilities) as they paid the temp agency. I'd like to be armed with some knowledge about self-employment though. I know the basics, like filing Form SE, and paying quarterly, but I'm looking more for the pitfalls to avoid, and maybe a link or two to something less opaque and confusing than the IRS site. Can you tell me what I should aware of? Can you pass along mistakes you (or others) have made, so I might avoid them?

Relevant details:
Massachusetts resident
Newly married (this will be the first year filing as married)
Wife makes similar salary
Insured through wife's job (no insurance worries, really)
No kids
Renting an apartment
The job will be the same, just removing the temp agency from the equation

Ideas for Interesting Part-Time Job

no1un0 — Wed, 06 May 2009 07:37:23 -0800

Meta-Filter worked well for me recently, so I thought I’d try again. I realize that what I’m asking is probably a pipedream, but here goes. I live in Los Angeles, CA, have a day job, and am looking for ideas for part-time work, evening and weekends, that would bring in between $500 - $1000 a month. Would like to work from home, but will commute any reasonable distance, depending on pay.
I have degrees in English Literature and Photographic Illustration and have worked for software companies in the past as an “Applications Engineer” (conducting product demos only, no
programming). In addition, taught a college-level computer graphics course while earning the Photo degree.
Past part time work includes bartending and teaching bartending courses. Also worked part-time at various minimum wage ‘sales’ jobs in retail stores of interest (i.e., Radio Shack).
Any ideas? Not looking for a new career here, just creative ideas for interesting PT work to pay off some bills. Wouldn’t mind something unusual or off-beat.

The not-so-bad problem of what to do with new money.

Anonymous — Tue, 28 Apr 2009 22:00:32 -0800

I'm about to see a huge increase in my income. What should I know? I've just landed a dream job, and as a result I'm going to see my household salary approximately quintuple (from around $50,000/year to starting at around $250,000/year) and with more large increases possible in the future. I've never had large amounts of money before and want to be aware of what changes I'm about to experience (besides the obvious: now I can buy more things).

I'm not looking for specific investing advice. I'm more interested in general advice and insights, particularly from anyone who has ever experienced something like this. What did you wish you knew when the money started to roll in? What did you do wrong? What did you do right?

Supplemental income through options on the internet or at-home work – what are my options?

lutzla23 — Tue, 28 Apr 2009 11:50:41 -0800

Supplemental income through options on the internet or at-home work – what are my options? I am looking for a/some supplemental income through options on the internet or that allow me to work from home.
I am fairly educated and have a full time job along with some contract-teaching at a local community college (currently out of session). I am looking for work that may be more obscure that would require part-time work on a non-scheduled basis (can be done at any time).
I have a hard time searching for this as I frequently run into many scams so it is now more difficult that I have to research the research to figure out if it is legit.
I thought I would poll the wonderful minds out there and see what everyone has heard of.
Some things that I have heard of and would be interested in learning more but have not found anything:
-Proof reading (collegiate work/dictation/transcription)
-Writing
-Consumer Panels/Surveys
-Any other suggestions
Really looking for something that can be done at home, flexible-minimal hours, paid-by-completion/word/amount processed/done.

Thank you!

What do you do, aside from your regular day job, to bring in extra streams of revenue?

Anonymous — Sat, 18 Apr 2009 11:25:28 -0800

What do you do, aside from your regular day job, to bring in extra streams of revenue? It's my goal to eventually have enough streams of income coming through so that the money from my full-time job is irrelevant. I work from home, which doesn't necessarily mean I have a ton of free time, but does mean that I do have more breathing room than I would if had an office job. Therefore, these streams of income would most likely require time to initially setup -- which is fine -- but would not require mass amounts of time to maintain. "Get a second job," is not what I'm looking for here.

So, hivemind, what are you doing to bring in money outside of your main day job?

Philosophical takes on taxes/income/wealth?

ekroh — Mon, 13 Apr 2009 08:10:40 -0800

I'm looking for philosophical treatises that touch on the subjects of taxes, wealth, income and the like for a blog post I'm thinking about writing. Specifically, I'm looking for philosophical musings on the government's right (or lack thereof) to collect taxes and the right (or lack thereof) of an individual to do whatever he wants with his earnings. It would be more helpful if you could point to a specific chapter/section/passage, rather than saying "try reading Marx."

Self-employment tax help for out-of-state web work

Anonymous — Tue, 24 Feb 2009 16:16:41 -0800

Self-employment tax help for out-of-state web work In late 2007, I moved from Ohio to San Francisco, leaving my full-time web-related job. In early 2008, the company I left started tossing freelance work my way. Lots of freelance work. So much that I never even needed to find local clients.

Questions:
1) Will I have to file an Ohio income tax form because the company paying me is located there? What about the city where the company is? (Yes, when I lived in Ohio we had city-level tax forms to file. I mentioned this to a SF resident once and it surprised them)

2) I'm assuming that I have to file a California income tax form since I live here, but are there any laws that say, for example, if the higher income tax state only gets the difference between the two rates? Or anything else pertinent?

Notes:
a. I have not been keeping up with estimated quarterly payments. Yeah, I know that's not really smart. I'd never intended to be a full-time freelancer. If I wasn't in the sweet situation of getting a steady stream of work from a company I was at for a decade, I don't think I'd have the temperament for it.

b. If it matters, we're talking about $73K of 1099 income.

What kind of records do most sole proprietors, freelancers and consultants keep?

Anonymous — Tue, 17 Feb 2009 19:39:33 -0800

What sort of state of organization are the financial records of most sole proprietorships in? I've had a small freelance business for about 15 years. About 3 years ago, I was in a car accident that was 100% not my fault. (The other driver admitted fault and there were witnesses.) I am now in the middle of legal dealings with my insurance company, because of the state of whiplash, the effect on my pregnancy and the effect on my ability to run my business and maximize earnings. (I do have a lawyer.) The insurance company is asking for all my financial records from the past nine years. They want copies of every receipt, invoice, mortgage interest statement, etc.

I've never kept a general ledger or anything like that. I just invoice and pay my expenses and credit cards and stuff like that. I've never been very formal about things, although I am excrutiatingly honest. I don't lie on my taxes. However, there have been situations where I just phoned the mortgage company to get the interest amount for my mortgage for the year (for business use of home), because I figured that if I got audited by the government, I would just phone and get a statement sent out. And, as I mentioned, I don't have cash flow statements or anything like that. And sometimes my receipts are in my name, my husband's name or both our names. But I always put money into our joint account to cover everything, usually lump sums throughout the year.

I had planned to incorporate and set up with an accountant, but, because of the car accident, I am just beginning that process now. Going forward, my records will be more diligent, since I'll be incorporated.

But, I'm wondering...what is the typical state of financial records for most freelance and consulting type businesses? My lawyer seems baffled that I have unaudited records...he's not used to sole proprietors. He seemed surprised that I had been doing my own taxes (for all but 3 of the total years, because, honestly, the accountants never got me any more tax back than I got on my own). For the most part, my business records are my personal income tax records, since the sole proprietorship income tax is part of that. I never saw any point to doing balance sheets and neither did the bookkeepers or accountants. Are other freelancers and consultants in a different situation? (Again, I'll be changing this going forward.)

Help me feed the cow while giving the milk for free...

Alabaster — Sat, 31 Jan 2009 20:45:15 -0800

I've created some educational materials (pdf / mp3 / ogg) that I would like to offer on the internet for free, probably under a Creative Commons license. I want the materials on their own website with their own domain name -- how can I make enough money to cover the domain / hosting / bandwidth costs? The trend nowadays seems to be to have some Google Adsense ads and a "Please Donate" button (linked to Paypal account?). But I don't know much about these things, especially with regards to security and legality of accepting money over the internet. Any advice?

Also looking for recommendations for domain/hosting companies that don't cost a fortune but offer enough space for audio materials (to download, not stream), and bandwidth for mass downloading, should the site ever gain popularity. Thanks

Should I do my own taxes or hire a pro?

Anonymous — Wed, 14 Jan 2009 08:36:38 -0800

I'm making four times what I have in the past, so should I continue to do my own taxes or should I try an accountant this year? I'm in the US.

I've done my own taxes since I started working at 15, and I don't actually mind the process. This year however is my first full year at my "career" job, and I've earned at least four times what I have in the past. My family is very working class so they have no experience with this sort of income and they have suggested that it might be worthwhile to use an accountant to make sure I'm not overpaying taxes.

I'm skeptical, because in many respects this is a more straightforward return than I have filed in the past. For example, I've only worked in one state/city and I live in that state/city (as opposed to when I worked four jobs in three states during my college years, for example). I have only one employer, and since I haven't been in school this year, I don't have any tuition deductions or credits. I don't own any property (live in NYC) or stocks (no capital gains/losses), and I make too much to be able to deduct my student loan interest. I have some charitable donations, but those are fairly straightforward and I have receipts. I don't have any client or business expenses I've shouldered personally (anything I've spent has been reimbursed by my employer) and I haven't spent any money on continuing education, etc. In short, I worry that going to H & R Block or finding a private accountant will be a waste of money because I don't know that they will find any deductions I'm missing.

Am I being cheap/naive/short-sighted? Should I find an accountant to make sure that I'm not overpaying my taxes? Or should I do my own taxes and only rely on a professional if my situation gets more complicated?

They want their money back - but should they get it? (UK)

almostwitty — Wed, 03 Dec 2008 04:31:32 -0800

My British employer overpaid me back in June 2008 to the tune of £1k. I pointed this out at the time, but never heard from anyone. Now it's December, and they want the money back. However, I've heard that I can contest this, on the grounds that the employer made a mistake, and that it's illegal to force employees to rectify companies' mistakes. Is this true? And what legalese can I quote? :)

How does child bearing and rearing affect the salary gap between men and women?

dbarefoot — Sun, 23 Nov 2008 20:43:03 -0800

How does child bearing and rearing affect the salary gap between men and women? I recently saw a salary survey of graphic designers which put the average salary for women at $69K and men at $76K.

Because they give birth and they're usually the primary care-givers for young children, women presumably accrue fewer years of experience than men. Assuming that, on average, the more experience, the more income, won't there always be a gap in average salaries between men and women? That is, until men and women equally share the sacrificed career time.

Bonus question: if you were to account for this difference in experience, what fraction of the salary do you think it would represent? That is, how much of the current salary gap can we chalk up to this phenomenon?

How can I use 10k ft. of space?

puddleglum — Wed, 12 Nov 2008 12:38:56 -0800

How can I generate some income with a 10k sq. ft space, only available three weekdays out of the week?

US income tax history and theory for dummies?

p3t3 — Fri, 17 Oct 2008 18:14:41 -0800

With all the bickering over taxes in the election campaign, I'm trying to get a broader picture of US income tax history, theories behind past policies, and analysis of how they worked (in idiot friendly language). I found this income tax rate history chart, and was surprised to see that 50 years ago, the wealthiest brackets were paying 70-90% taxes on income.

Then I found this tax history fact sheet, which is sort of what I'm looking for, but either with a little better explanation, or in simpler language. For instance, I'd like more explanation on passages like this:
Over the 22 year period from 1964 to 1986 the top individual tax rate was reduced from 91 to 28 percent. However, because upper-income taxpayers increasingly chose to receive their income in taxable form, and because of the broadening of the tax base, the progressivity of the tax system actually rose during this period.

All links, explanations, articles, anecdotes appreciated!

One foot on the "right" side of the track, one foot on the "wrong" side of the track.

sixcolors — Tue, 07 Oct 2008 13:09:37 -0800

Socializing “across the tracks”. My father grew up poor, and is now working a blue-collar job. My mother grew up upper-middle class (except the first 8-9 years), went to college, and is working in a decent profession. Because of their backgrounds, they’re really different people. Being their daughter, I take on the characteristics of both. As a result, I cannot fully identify with neither middle-class or working-class (or even poor) people. Nor, am I fully accepted by either group. This is kind of “part-two” of last week’s question, I was not comfortable bringing this up. There were many many replies telling me to cool it on trying to find similarities when it came to dating prospects. There were also some questions asking me why I was so desperate to find things in common with people. The answer is, a few reasons, one of them being that I am trying to compensate for what I believe is a fundamental difference (and insecurity!) in the way I was raised and things I experienced in life. I come across some people who are like myself, they are “bi-class”. But, the majority of people I come across, fit way more neatly in one category or another. In other words, no matter which way I go, I will be “dating up” or “dating down”, or befriending up or down.

I read a book last summer called “Crossing the Tracks for Love”. It was a great book. It was very informative, and gave a lot of advice how to get along with a partner (and their family/friends) from another class. There was one problem I had with the book, a lot of the advice was kind of on the superficial side. It only offered “band-aid” solutions, like imitating your partner’s habits which were influenced by their upbringing. Well, that’s fine in short-term, but if that’s your only strategy, you will lose your own identity.

For those who have grown up like me, what did you do to put people with different economic backgrounds at ease, without completely changing yourself? This question also includes those who have came from only one “class”, but is dating someone of a different background. How did you guys wind up together?

How can I convert 80 hours of free time into $500 per month?

(bb|[^b]{2}) — Mon, 01 Sep 2008 19:55:16 -0800

I'm looking for the most creative use of my time from 9 AM to 1 PM, Monday through Friday, that will result in me making an extra $500 per month. I want to be free of debt by the end of 2009, but to accomplish this I need to make exactly $500 per month from now until New Year's Eve 2009. I've been self-employed for the last four years, and make enough to live comfortably, but not enough to pay down my debt in a timely manner. I can carve 20 hours out of my week to do something, but what?

Having been my own boss for quite some time, I'd like to stay away from being someone else's employee, but other than that, the sky's the limit. If my particular skill sets are important to better answer the question, I'll gladly list them below, but for now I wanted this to remain as broad and open as possible.

Is it becoming the norm for people to work more than one (or even two) jobs just to stay afloat?

msposner — Mon, 01 Sep 2008 14:21:57 -0800

Is it becoming a more acceptable trend for individuals to work more than one job just to maintain a certain standard of living? I work three jobs (my wife also works full-time) and yet it seems as if we barely can keep ourselves afloat on a monthly basis. Help me from going crazy here! Background information: I work three jobs. Job number one is a state employee (CT) for a position that requires a master's degree (I actually will be finishing up my second one in a few months). Job number two is working as an independent contractor for a technology company (10-15 hours/week). Job number three is a teacher for an adult education program (5 hours/week).

My wife is a full-time teacher.

Together, we have little debt (<$5k) and we are hardly reckless with our spendings. Most of our purchases are related to the upkeep of our home and cars (2). We rarely eat out but we do have a house and all the associated bills. With me working all these hours, we've been able to be afloat in terms of our bills and expenses.

However, I am seeing more and more people, including colleagues in state employment looking for second (and sometimes, third) jobs just to "stay afloat." They too, claim that they don't have any really "out of the world" bills.

I am wondering what other people are experiencing, especially in the state of today's economy and whether this trend is related to the fact that I live in CT (a very, very expensive state) or if this is something we need to expect to become the norm just to maintain normal, decent standard of living.

Or it could be that I don't make enough money with my primary job ($50k/year)...

Any thoughts? Feedback? Insights? All would be greatly appreciated.

invest 1 million dollars guaranteed income

endlessknot — Tue, 19 Aug 2008 19:34:00 -0800

Where should one invest 1 million dollars for guaranteed income ? I have been reading that there are Fidelity and Vanguard income funds guaranteed for life. Please suggest how/where to invest 1 million dollars for at least 10% interest per year. Thank You. endless

How does family income relate to field of graduate study?

abirae — Sat, 09 Aug 2008 00:34:11 -0800

Who can afford to study philosophy? How does family income relate to field of graduate study? How does family income relate to field of graduate study? My husband and I were discussing who can afford to study philosophy. Even though many graduate programs are fully funded, we were wondering what the representation of students from low and moderate income families is in different fields. We both guessed that education would be the most econimically democratic field of study, but I am curious to see the statistical breakdown of the average family income of matriculants to different graduate and professional programs.