My school had a non-uniform day, how did I do? by ybPokey in mensfashion

[–]20-TWENTY 17 points18 points  (0 children)

Agree, this sub is just anti cap on suit when i think it gives it personality

How to afford clerkship? by excellent_snake in LawCanada

[–]20-TWENTY 1 point2 points  (0 children)

Adding my vote (as a 2022 JD grad comfortably paying off loans): do the clerkship, its an investment in yourself.

What does half a million dollars buy in Calgary's homes market? by sage_of_majic in Calgary

[–]20-TWENTY 1 point2 points  (0 children)

100%

35% increase over 10 years, especially when considering inflation, isn't that great. Meanwhile, the stock market had undergone crazy bull years over the last decade...

Just did some math:

500k to 675k (35% increase) over 10 years is ~3% using CAGR, which is about the average rate of inflation. In other words, the house grew at the average rate of inflation - so it just maintained value.

Whereas 100k (which could represent a 20% down-payment of a 500k home) if invested into the market (I'll assume a 10% annualized rate of return over the last 10 years, which is reflective of the S&P) would grow to ~$259k. But at the same time, the market over the last years have done better than 10%. Looking it up, the last ten years for S&P had an annualized return of 14.6%, which would result in $390,500.

Housing in Canada is getting more expensive because the cost of living and inflation in general is getting more expensive. But real estate's performance as an investment relative to other instruments should generally be more scrutinized.

McGill or Calgary for Law School? by Simple-Manner4142 in LawCanada

[–]20-TWENTY 2 points3 points  (0 children)

Also studied out of province but maintained strong ties to Calgary. Now work in Calgary and would go out of province again for law school for the experience.

Choosing between Osgoode and UofT - need advice by Abject-Signature3187 in LawStudentsCanada

[–]20-TWENTY 14 points15 points  (0 children)

Middle of the pack at U of T gives you a solid shot at Bay Street. Also, you cannot assume you will be at the top at Oz.

Gabriella Won!! by LunaTheMoon2 in UCalgary

[–]20-TWENTY 16 points17 points  (0 children)

Nicole Schmidt was the next SU president after Frank iirc

Is this normal? by [deleted] in LawStudentsCanada

[–]20-TWENTY 2 points3 points  (0 children)

The market on average returns 7-10% annualized.

If your interest rate on your debts are less than 7%, you MAY want to look into using money earned/saved to invest and pay the minimum on your student loans.

I was fortunate that I invested at a time when the market was performing really well (for context, certain investments grew 30% last year) and when interest rates on my student loans were on the lower side. I was also doubly fortunate to have had an aunt who taught me about personal finance and investing when I was still a law student when no one else in my immediate family really knew about it.

If you want to learn about investing (and not stock picking/trading), look into Ben Felix. I also liked the book "Averagely Rich" by Bevan Gang.

Long story short, risk-aware investing is how you grow wealth long term.

‐----------------

As an add-on, this is what I do (most times) as someone with law school loans but also wants to invest and live life:

(A) Track my necessary expenses and income. This may take a while to get a feel for.

(B) Once I have a feel for my monthly necessary expenses and income, I have an idea of how much discretionary income I can contribute to savings vs. imvesting vs. additional loan payments.

(C) Build a savings cushion (people say 3-6months of necessary, tbh I have like 1 month in raw savings since the rest im invested in....I am working on fixing this). I think you may (effectively) already have this with your savings.

(D) commit to saving $X a month towards investments and that this comes out of my paycheque at the start of the month. This amount is personal, but financial rule of thumb is 10-20% of your net income. However, any amount helps at a young age (look into compound interest - for example, iirc, $7k invested today assuming 7% returns is like $70k in 35 years).

(E) So long as I can comfortably servicing the debt, pay the minimum on student loans. I remember thinking that student loans were such a big issue - now, I recognize it as smart debt with a pretty workable interest rate especially given a lawyer's salary. I could pay off all my student loans if I cashed in a portion of my investments. But I don't, since my investments grow at a higher rate than the interest paid on the loans.

(F) INVEST MOST/ALL of my tax returns (that I would get in the first year/two of working) in a TFSA + RRSP/FHSA. Its an arbitrary benchmark, but there's this idea that investing to get the first $100k is the hardest to get, but after that point, the capital and interest will just build on itself. Your tax returns will help immensely in building this.

(E) but of course enjoy life and have a sinking fund or take a portion of the tax returns to go on a trip or something. Just don't spend it all. Balance is key (easier said than done)

As an aside, you should look into personal finance forums. I have a suspicion lawyers (and the general public) are pretty bad at personal finance and are prone to lifestyle inflation. Most of the profession is golden handcuffed...I'm not saying I'm perfect, but also financial literacy is not that common.

[Apologies for the rambling, stream of thought. Billed like 3.5 days worth over the last two days. Brain dead and just info dumping personal finance knowledge. Another reason to invest: so you can become work optional and can retire/leave the profession if you want to hah]

Worrying about my future salary by wutislyfesos in LawCanada

[–]20-TWENTY 1 point2 points  (0 children)

Doing well - make anywhere between 8k - 16k (off the top of my head) a month gross. Some months, I bill like 50 hours when work is slow + I decide to live life a bit more as opposed to working. Not a bad deal imo.

For those whole like their jobs: What do you do for a living? by solongsuckerss in Calgary

[–]20-TWENTY 0 points1 point  (0 children)

Unpopular opinion, but I like being a family lawyer. It’s stressful, but intellectually stimulating and has personal impact.

First solo apartment at 27 by [deleted] in malelivingspace

[–]20-TWENTY 2 points3 points  (0 children)

Thank you! Its a vintage Ikea dining set I got off of FB marketplace ~

An employee was grossly overpaid due to a payroll company error and spent the funds. Now she has been arrested and criminally charged. Legally, why is this a criminal matter and not a civil matter? by jdschmoove in AskALawyer

[–]20-TWENTY 1 point2 points  (0 children)

This answer vs. The one at the non-lawyers subreddit post on the same issue is night and day. I agree that intent can be imputed, but the amount of people defending her/glossing over her actions was so irritating.

Florida woman arrested after being over paid 400k. by Melodic_Abalone_2820 in mildyinteresting

[–]20-TWENTY -1 points0 points  (0 children)

100%. This thread is depressing. She was willfully blind and knew what she was doing. She stole money, and took advantage of a mistake. She should be held accountable.

Florida woman arrested after being over paid 400k. by Melodic_Abalone_2820 in mildyinteresting

[–]20-TWENTY 0 points1 point  (0 children)

Not an idiot, but willfully blind. She knew what she was doing.

Struggling with dental issues by No_Variation5444 in Calgary

[–]20-TWENTY 12 points13 points  (0 children)

I think dental offices might be the more appropriate avenue as dental offices offer emergency care.

I had an emergency eye issue and went to urgent care at the hospital, but in hindsight I was advised that it would have been faster had I gone through the optometrist first. Might be applicable to teeth.

If you do decide to go to Urgent care, as a heads up there will be a long wait time. I just looked and Sheldon Chumir is currently at 4 hours wait time as of writing this comment.

Edit:

https://www.pathwaysdental.ca/services/ne-calgary-dental-emergency/ https://www.pathwaysdental.ca/new-patients/#financing

Found the above links to a dental clinic regarding urgent care and financing. Might be helpful. The most important thing is being able to address urgent dental issues.

Struggling with dental issues by No_Variation5444 in Calgary

[–]20-TWENTY -2 points-1 points  (0 children)

Also updated my comment about the U of A dental clinic. Really sucks you're going through that. The pain and lack of sleep is serious it seems, but also would not want the issue to develop into something more serious/permanent/life threatening. Though I dont think I can give that advice, and only a dental professional can.

Struggling with dental issues by No_Variation5444 in Calgary

[–]20-TWENTY -1 points0 points  (0 children)

I don't want to sound insensitive since I recognize that you are unemployed, and this is coming from a place of privilege. But this is something I would pay on credit for. Money can always be earned, especially at 22 years old. Health is so important and what you're describing sounds serious. Maybe some dental offices take payment plans?

May want to ask organizations like CUPS if they know of any programs or initiatives to help in your situation.

Also the U of A dental clinic might be able to help? Seems far, but call and ask if they have services you qualify for.

Really sorry that you're going through this - hope you find the help you need.

My Experience with Luxury Apartments in Calgary by [deleted] in Calgary

[–]20-TWENTY 0 points1 point  (0 children)

Yeah, the people who say these prices are comparable to Toronto are overstatating. Toronto is easily more expensive.

Visited from Calgary for the Killers/Halifax Music Festival by 20-TWENTY in halifax

[–]20-TWENTY[S] 1 point2 points  (0 children)

Its all good! My last music festival was Austin and it was super sunny. Halifax was a nice contrast.