"Is it too late for me to go to law school?," both you and Elaine Benes, Julia Louis-Dreyfus's character on the hit 90s sitcom Seinfeld, have probably asked at some point in your non-law school attending professional life. Much like college, law school is known to provide a jumble of personal and professional skills that are said to set you apart from candidates who don't. But, also like college, law school carries a steep price tag: average tuition at a private university's law school runs at an average of $45,467 per year. Even public law schools run from an average of $25,890 and $38,885 per year, in-state and out-of-state costs respectively.
So, will it make you rich?
As of last month, per the Bureau of Labor Statistics, the legal industry currently employs 1,125,300 people, 1,500 more than in October of 2015. Last year, the Times reported that the starting salary for first-year hires at law firms almost universally range in the triple-figures. James Leipold, of the National Association for Law Placement, told the Times that, in New York, "the $160,000 starting salary is almost universal." So, yes.
In fact, now just might be the time to get into the legal sector. Susan Beck, writing for no less an institution than The American Lawyer, reports that, "Nearly all [law firm leaders] said that Trump's presidency will initially mean more work for many lawyers." One of those leaders that Beck quoted, Kim Koopersmith of Akin Gump Strauss Hauer & Feld, one of the most profitable law firms in the country, admitted that "because [Trump] has an agenda that is kind of unprecedented and untested, it does raise the prospect of significant legal needs in a variety of practices."
It's not just a matter of taking classes and passing the right tests, however. The legal world is a far cry from the slammed-down briefs of the criminal justice world. The kind of law you decide to focus on, however, depends as much on your personal interests as where you plan to practice. A great resource, even before you start looking at law schools, is BCG Search, a legal placement service that closely monitors current legal opportunities all over the country. Right now, for instance, you can access their State of the Law Firm Hiring Market for Spring-Summer 2016 and find out which fields are hiring and where.
Wendy Siegel, Director of Recruitment & Marketing at the NYU School of Law's Office of Career Services, reiterates the sheer importance of doing your homework before sitting down for that LSAT. "Students need to do some investigative research and soul-searching," she told me when I asked her how potential students should approach considering law school. It's essential, she said, "to speak with as many people as possible to make sure they understand what law school is like, which school would be the best fit, and speak to lawyers who are doing the type of work that they might be interested in doing down the road."
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Airbnb offers an affordable option for people looking to be more comfortable as they travel.
However, there are downsides to staying in a host's home rather than a hotel. Whereas hotels are designed for constant streams of visitors and often have furniture built to last, at an Airbnb, you may be staying on old or cheap furniture that a host is using in order to maximize their profits.
And while most reputable hotels will have regular room inspections from staff to check for any wear and tear, Airbnb damage disputes are oftentimes he said, she said situations. If you are in an Airbnb and something breaks, there are a few steps you should take in order to ensure that you are not on the hook for damages out of your control.
If you're keeping tabs on the art and tech worlds, you've probably been hearing whispers about "NFTs" for the past month. Just over the past week they've entered the mainstream lexicon.
Twitter founder Jack Dorsey made the news for selling his first ever tweet. The app has been teasing paid subscription models and newsletter-like features, but tweets for sale is "the next frontier."
just setting up my twttr— jack (@jack)1142974214.0
The 2006 tweet went up for auction as an NFT, and the current bid is $2.5 Million. But what does it mean to own that? Why would anyone want to? And what even is an NFT?
Long gone are the days when the majority of Americans dreamed about owning a home with a white picket fence.
The traditional American Dream may be on its deathbed, but that doesn't mean a core component of the vision can't survive. It simply takes a diverse perspective. People can still believe they can attain their own vision of success in society with hard work, knowledge, and risk-taking. Investing in today's American Dream may literally mean investing money in our modern economy, starting with our infrastructure.
Real estate investing in particular is a lucrative method that can boost income and secure a better financial future for many. There's always risk involved, but the payoffs can far outweigh the uncertainty. Selecting solid financial investments is about confidence and competence. If you're looking for some advice on this kind of investment, here are a few savvy tips for new real estate investors.
Stick To a Specific Strategy or Niche
Real estate is a challenging sphere of the business world, one that requires several key skills: groundwork knowledge, networking, perseverance, and organization. True knowledge of the real estate market will come with time and experience, but it's a smart idea to select one area of the market and stick to it. This is the best way to attain in-depth familiarity with your specific niche.
First, choose a geographical area close by and then a niche strategy within it, such as house flips, rental rehabs, or residential or commercial properties. By doing so, you can become aware of current inner working conditions in the market and you'll have a better idea of how these trends may change in the future.
Be Vigilant About Viable Financing Options
While it takes money to make money, you don't have to use all your own money. A common misconception about real estate investing is that you must be wealthy to start off. This isn't straight fact, however. A majority of people can test the waters of real estate investing without a lot of initial cash in their pocket.
Aside from traditional financing options from banks and institutions, private lending options can be worthy solutions. Hard money lenders are popular, reasonable choices, and they tend to have fewer qualification requirements upfront. However, be sure to strategically choose a hard money lender to find the best possible fit.
Master the Art of Finding Good Deals
There may be hundreds of thousands of available properties for sale on the current market, but the bulk of them will never amount to the final money-making result you desire. Another great tip for new real estate investors is to use good math to estimate profit. Taking risks is part of the process, but you have the ability to analyze properties and use networking sources to find the greatest deal. You can't win every deal, but you can steadily work towards a thriving financial future.