Forum
»
Crazy how student loans went from a summer job to 10 years of payments
07-19-2020, 02:39 PM
-
#61
- Destor
- Registered User
-
- Destor
- Registered User
- Join Date: Apr 2012
- Location: Alberta, Canada
- Age: 41
- Posts: 43,481
- Rep Power: 254906
-
-
Originally Posted By MikeLowrrrey⏩
Every company I've worked for except the one right before this (was only there 4 months) has employed independent contractors, so it's probably often just a matter of approaching management about it and going through the steps of creating a business. My current company generally doesn't do it while a project is underway, but they made it happen for me -- I just incorporated a few weeks ago. Not sure if you're in the US, but here you can generally go Sole Proprietorship or Corporation, and my current company only does Corporations.I meant to ask you, what's the best route to becoming an Independent contractor? What are the upsides and downsides to it? So far I like the field, but I've barely scratched surface and have a lot to learn.
Upsides in Canada:
-Ability to acquire vehicles / equipment under the corporation and then write off the expenses. Potential to write off a range of expenses, from office space in your house to vehicle (gas, maintenance, etc) to a bunch of other stuff.
-Ability to pay yourself in a few different ways, big one is Dividends vs Salary. There's a bunch of tax theory around this stuff and other considerations
-Ability to use your corporation to take on debt, hold funds and invest them, and other financial things. So you invoice a company to your corporation, money flows into your company, and you can keep it in the company instead of paying yourself (if you don't need the $$$ at that time). That means you pay a much lower corporate tax rate on the revenue, which gives you more money to play with at the front end. So you can take revenue that hasn't been hit with personal tax rates, invest it, grow it, and then pay yourself after the money has ballooned.
-No requirement to pay into mandatory contributions if you pay yourself in dividends. In Canada, that means no mandatory CPP and EI contributions.
-Cash flow benefits if you're good at managing your money. Tax isn't automatically deducted, so you can use additional funds now to pay down debt (or invest if your risk tolerance is high af) and then just pay lump sums quarterly or whatever.
Downsides in Canada (some are general):
-Potentially less stability as companies can more easily terminate independent contractors than permanent employees. In my industry, everyone worth their salt is an independent contractor because they're always in demand.
-Need to provide your own health coverage and things like Workers Compensation, etc
-Need to deal with your own taxes and such, which usually involves an accountant
-Paying yourself in dividends will not increase your Retirement account contribution room and can make it difficult to get approved for loans
There's a lot to this chit and I'm still wrapping my head around it, just submitted my second-ever invoice today. But sufficed to say, there are a lot of potential benefits and a corporation specifically can do anything a real person can.
Originally Posted By elterrible987⏩
Yeah it surely varies by company, but I'm guessing most projects are budgeted @ 40hrs / week for any home office overheads. Field work, at least in my industry, is budgeted for overtime in basically every shift. My counterpart in the home office can't charge more than 40hrs per week despite working on projects, but he makes $95/hr so that's okWhy would they be limited to 40 hrs a week, they are usually billable to a project. Maybe its like that were you are but that isnt the norm.
Edit: Fixed some mistakes, typing this fast @ work
07-19-2020, 02:43 PM
-
#62
- Jimmehhh
- Registered User
-
- Jimmehhh
- Registered User
- Join Date: Jun 2015
- Age: 37
- Posts: 6,669
- Rep Power: 37547
-
-
Originally Posted By snailsrus⏩
dafuq?In law school each book is 1000 bucks and they change them every year but generally buying the students a year ahead of you, their old books are the cheapest way to go for 200 bucks each, I worked full time with scholarships for both my degrees it’s not hard
$1000 for books.
brb get to the library before everyone else and refuse to give it back when other people request it.
....Atlas.....
¯\_(ツ)_/¯
"It was always the women, and above all the young ones, who were the most bigoted adherents of the party, the swallowers of slogans, the amateur spies and nosers-out of unorthodoxy." - George Orwell, 1984
LTC is the only heterosexual way.
07-19-2020, 02:43 PM
-
#63
07-19-2020, 03:29 PM
-
#64
- TinderGame
- chadlet
-
- TinderGame
- chadlet
- Join Date: Nov 2015
- Location: United States
- Posts: 2,301
- Rep Power: 0
-
-
The boomers are going to burn in hell
-Chad in my dreams crew
-Race baiter crew
-Manlets should get disability checks crew
07-19-2020, 04:03 PM
-
#65
- atgbrahsrs
- ToningWasTooHarshForMe
-
- atgbrahsrs
- ToningWasTooHarshForMe
- Join Date: Jan 2015
- Posts: 16,298
- Rep Power: 67825
-
-
the thing that accounts for 90 % of the problem is the useless degrees
get something like medicine, eng, comp sci, law etc and it is an ok option
get something like medicine, eng, comp sci, law etc and it is an ok option
communist until you get rich
rightwing until financially secure
atheist until the plane starts falling
slootist until you get married
muslim after you get married
07-19-2020, 04:14 PM
-
#66
- Destor
- Registered User
-
- Destor
- Registered User
- Join Date: Apr 2012
- Location: Alberta, Canada
- Age: 41
- Posts: 43,481
- Rep Power: 254906
-
-
Construction Management often isn't that far off from Engineering in application. Engineers who don't want to design (many go in that direction) end up veering towards the Construction / Project Management route, except now they have a bunch of technical knowledge that isn't overly applicable to working in management. May as well just cut out the calculus etc and train them in something that will actually apply to what they want to do
I've worked with many Mech engineers on the management side who have barely used a shred of what they learned in their courses
I've worked with many Mech engineers on the management side who have barely used a shred of what they learned in their courses
07-19-2020, 04:18 PM
-
#67
- FingerFood
- Registered User
-
- FingerFood
- Registered User
- Join Date: Jun 2020
- Age: 56
- Posts: 1,372
- Rep Power: 8213
-
-
What else is supposed to happen when people that should not even be offered a car loan are auto approved for federal loans payable only to the salesman that give you access.
Prices would go down right away if those stupid loans stopped being granted.
Prices would go down right away if those stupid loans stopped being granted.
07-19-2020, 04:25 PM
-
#68
- VisionaryLarry
- Registered User
-
- VisionaryLarry
- Registered User
- Join Date: Jun 2020
- Age: 56
- Posts: 659
- Rep Power: 4502
-
-
Originally Posted By atgbrahsrs⏩
You think it is, but it isn't. Here's why.the thing that accounts for 90 % of the problem is the useless degrees
get something like medicine, eng, comp sci, law etc and it is an ok option
get something like medicine, eng, comp sci, law etc and it is an ok option
All those degrees like medicine, law, and degrees that need further education, end up racking up tons of debt. Doctors are slaves. 200k in debt making 200k. They are now slaves to the system. Slaves to big pharma. They have to do what they are told, push things they don't believe in, and just follow anything they are told. Why? They need this job to pay the crippling debt and cash flow their doctor lifestyle they adopt because of society.
That is why we are in this mess. Corporations and big pharma has all these people by the balls. They are slaves to their debt so they can make people do **** they would typically be against because they need the job and money.
Fuk that.
07-19-2020, 04:30 PM
-
#69
- Adam16121
- Registered User
-
- Adam16121
- Registered User
- Join Date: Apr 2017
- Age: 41
- Posts: 20,009
- Rep Power: 314711
-
-
Originally Posted By Fozzy13⏩
I think one of the issues people have today is that making college affordable requires NOT taking the usual course of going through 1-4 university. It requires a strong, conscious effort to have college end up costing what a 1-4 path should cost. And even when following this path, it isn’t cheap, it’s just doable. Most people just feel a 1-4 should cost something comparable to the benefit it bestows, which it clearly does not.BC people are dumb. That's why there are so many retards walking around arguing about not wearing a mask n chit.
Go to CC, can pay with your summer job just about. Get as many classes done as you can...basics and some electives.
Instead of moving out of state to a private university, transfer to an instate school for the last couple of years.
BRB minimal debt.
And now days you can get college credit in HS, which makes it even more affordable.
You can download text books for cheap/free if you know where to look.
I bought and resold my books for less than what it would have cost to rent the book...sometimes even made some money. Also, bought international versions of textbooks for real cheap. Only time I got screwed was when they upgraded the book to a new version and no one needed the old version
Go to CC, can pay with your summer job just about. Get as many classes done as you can...basics and some electives.
Instead of moving out of state to a private university, transfer to an instate school for the last couple of years.
BRB minimal debt.
And now days you can get college credit in HS, which makes it even more affordable.
You can download text books for cheap/free if you know where to look.
I bought and resold my books for less than what it would have cost to rent the book...sometimes even made some money. Also, bought international versions of textbooks for real cheap. Only time I got screwed was when they upgraded the book to a new version and no one needed the old version
07-19-2020, 04:33 PM
-
#70
- John L
- Make that coffee to go
-
- John L
- Make that coffee to go
- Join Date: May 2006
- Location: Brookhaven, New York, United States
- Age: 37
- Posts: 39,802
- Subscribers: 3
- Rep Power: 234323
-
-
Originally Posted By Reliance012⏩
Agreed to an extent. I worked full time as a cook while going to community college and then transferred to a state university. I was a commuter student. Took me to an extra year to graduate due to working full time and not taking full courseloads every semester, but I graduated with no debt and an IT degree. Have a steady job making $80k now. I might not be rich, but I sleep at night.If you really want it, college can be cheap. Srs. Go to an in-state school and take advantage of scholarships. There are HUNDREDS out there. You can cut your tuition by 80% if you spend a few weeks applying for all eligible scholarships. Students are just lazy.
However engineering degrees are definitely too intensive to be able to work simultaneously to pay out of pocket for the tuition. But if you aren't getting scholarships, there's nothing wrong with doing the community college to state university route. It'll be so much cheaper.
07-19-2020, 04:35 PM
-
#71
- Miscbob
- Abortion survivor
-
- Miscbob
- Abortion survivor
- Join Date: Jul 2018
- Posts: 3,386
- Rep Power: 21619
-
-
Originally Posted By adamsz⏩
Higher education is a complete racket.lot's of it has to do with administrative bloat
gotta pay those deans of diversity and inclusion a nice phat salary nomsayin
gotta pay those deans of diversity and inclusion a nice phat salary nomsayin
Try and get a job in the system.
07-19-2020, 04:37 PM
-
#72
Amazing that so many people are blue pilled as to the reason behind the massive push towards convincing sub 100 IQ people that they "need" a Degree with no real financial value.
Its about setting people up for a lifetime of indentured labor forever paying off the ruling class
Its about setting people up for a lifetime of indentured labor forever paying off the ruling class
07-19-2020, 04:37 PM
-
#73
Originally Posted By Jimmehhh⏩
the books aren’t in the library and it’s so competitive no one shares booksdafuq?
$1000 for books.
brb get to the library before everyone else and refuse to give it back when other people request it.
$1000 for books.
brb get to the library before everyone else and refuse to give it back when other people request it.
And it’s 5-6 books a year 1k each
SuperHercules crew
cancer survivor crew
Dyslexic crew
Friend of Mr.Wilson crew
Ugly and old cell crew
Cat crew
Insomniac crew
07-19-2020, 04:43 PM
-
#74
Originally Posted By Anachron⏩
TBH the only benefit I'd have had from a worthless 4 year vs my worthless 2 year degree was that Murrican immigration would have let me come here earlier.And yet the misc makes fun of tradies.

It's hilarious that USCIS counts 4 years of professional experience as the equivalent ofone yearof a degree
07-19-2020, 04:47 PM
-
#75
Originally Posted By Destor⏩
you can also get with a union that does apprenticeships, that pay for school and give you a job while your in school and insurance plus retirement. My husband did that with thermal engineering. Very long program thoughConstruction Management often isn't that far off from Engineering in application. Engineers who don't want to design (many go in that direction) end up veering towards the Construction / Project Management route, except now they have a bunch of technical knowledge that isn't overly applicable to working in management. May as well just cut out the calculus etc and train them in something that will actually apply to what they want to do
I've worked with many Mech engineers on the management side who have barely used a shred of what they learned in their courses
I've worked with many Mech engineers on the management side who have barely used a shred of what they learned in their courses
SuperHercules crew
cancer survivor crew
Dyslexic crew
Friend of Mr.Wilson crew
Ugly and old cell crew
Cat crew
Insomniac crew
07-19-2020, 05:15 PM
-
#76
- guest89
- Forever aBOARD
-
- guest89
- Forever aBOARD
- Join Date: Sep 2003
- Location: United States
- Posts: 41,691
- Rep Power: 169649
-
-
Originally Posted By drvillain⏩
I don't know any wealthy boomers that went to college. Even the self made multi millionaires have a HS diploma at best. I think college is pipe dream and a waste for everyone that aren't in STEM. And I went to college. College should be reserved for the most intelligent or wealthy people. Not a bunch of idiots that are just wasting money and time.yeah the pricing of school is fukd, combined with cost of living these days. Boomers don't realize how easy they had it.
If I have a kid that's intelligent and is going to make it in a high end STEM field I'll pay for their college. But if I don't see that happening and its not their passion. I'll encourage them to find an industry they want to be involved in. Make sure they start working in it from 18-22ish. Then I'll fund their first business in that field so they can be an entrepreneur.
As far as construction management I have a friend that does that. No college degree. Started tradie work at 18. Worked his way up. Got a ton of experience and made a ton of connections. Now at 33 he's managing massive construction gigs. (100+ million dollar jobs) Good luck going to college for construction management and getting into that kind of position without connections in that industry. My buddy spent 15 years building his reputation, his skill-set and his experience. More importantly, he built a strong network in that industry for over 15 year.
If you have an associates degree in that its time to quit school, save your money and get employed in that industry so you can work your way up. A bachelors degree in construction management isn't going to give you the experience or connections you need in that field.
07-19-2020, 05:39 PM
-
#77
- rectifryer
- enlightened
-
- rectifryer
- enlightened
- Join Date: Sep 2012
- Posts: 25,634
- Rep Power: 208783
-
-
Originally Posted By Anachron⏩
strong admitting trades are sub 100 iqAnd yet the misc makes fun of tradies.

Boycott foodservice industry crew
07-19-2020, 06:33 PM
-
#78
- Destor
- Registered User
-
- Destor
- Registered User
- Join Date: Apr 2012
- Location: Alberta, Canada
- Age: 41
- Posts: 43,481
- Rep Power: 254906
-
-
Originally Posted By snailsrus⏩
That’s pretty impressive, I’ve worked with a lot of people and have met maybe 2-3 who have gone Trades -> Engineeringyou can also get with a union that does apprenticeships, that pay for school and give you a job while your in school and insurance plus retirement. My husband did that with thermal engineering. Very long program though
Originally Posted By guest89⏩
Yeah people who work as Construction Managers pretty much always have trade backgrounds — CMs are responsible for driving the construction itself and good luck doing that if you don’t have a fukton of hands-on experience.As far as construction management I have a friend that does that. No college degree. Started tradie work at 18. Worked his way up. Got a ton of experience and made a ton of connections. Now at 33 he's managing massive construction gigs. (100+ million dollar jobs) Good luck going to college for construction management and getting into that kind of position without connections in that industry. My buddy spent 15 years building his reputation, his skill-set and his experience. More importantly, he built a strong network in that industry for over 15 year.
If you have an associates degree in that its time to quit school, save your money and get employed in that industry so you can work your way up. A bachelors degree in construction management isn't going to give you the experience or connections you need in that field.
If you have an associates degree in that its time to quit school, save your money and get employed in that industry so you can work your way up. A bachelors degree in construction management isn't going to give you the experience or connections you need in that field.
But Construction Management grads without experience can start as Project Coordinators (typical path) and work their way up into Project Management positions. PMs deal moreso with the contractual side of things, and both roles generally have absolutely massive responsibility especially on large projects. Some companies hand out titles without the responsibility or pay, so there’s a bit of a range depending on the context. Average age of PMs I’ve worked with is like 50+, and my biggest project so far was almost $600million.
Bookmarks
-
- Digg
-
- del.icio.us
-

- StumbleUpon
-
-
Posting Permissions
- You may not post new threads
- You may not post replies
- You may not post attachments
- You may not edit your posts