Q of the Month: Do you think CPA's are going to make the middle class cut-out?

CPA Exam Review CPA Exam Forum Big 4 Firms, Accounting Careers, & CMA Accounting Careers (Public/Private/Industry) Q of the Month: Do you think CPA's are going to make the middle class cut-out?

This topic contains 28 replies, has 12 voices, and was last updated by  Keycat 2 months, 1 week ago.

Viewing 29 posts - 1 through 29 (of 29 total)
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  • #2363154
    BrightLIght
    BrightLIght
    Participant

    Hello to you, my fellow accounting friends:

    So…I have a serious question…

    Is the CPA license going to be essential to staying out of the rut when then middle class disappears? It is slowly being phased out. I understand that the only survivors will be those who understand trading and investment decisions. I know the CPA knows alot about the essentials of a healthy company, and how to access important documents, etc., in order to make wise invesment decisions. So, I am hoping to get into the upper class sometime in the next 20 years, by budgeting, not having debt, paying off the house, and, having a good income…

    Does anyone plan on getting into trade at some point in time?

    So, the question of the month is, what is your plan for becoming rich with your CPA license?

    Well, I guess that is two questions of the month…Or three…

    This sucks and I quit
    #2363175

    Hank Scorpio
    Participant

    Don't believe everything you see in the news.

    AUD - 71, 79
    BEC - 69, 74, 75
    FAR - 71, 74, 80
    REG - 74, 78
    #2363220
    BrightLIght
    BrightLIght
    Participant

    You wouldn't see this in the news…In the news, you are seeing the market go up while there are massive lay offs going on in the country…only people get rich are the stockholders…no?

    This sucks and I quit
    #2363223

    Hank Scorpio
    Participant

    No.

    AUD - 71, 79
    BEC - 69, 74, 75
    FAR - 71, 74, 80
    REG - 74, 78
    #2363265
    BrightLIght
    BrightLIght
    Participant

    Well, I didn't see this in the news…This is just common intelligent person knowledge. House and savings are fake assets…and everyone is a slave but doesn't know it yet. Dollar isn't backed by anything but the dollar itself..and U.S. dollar standard is in danger…and the American economy is in a free-fall, unless you had a lousy economics professor, you would probably understand all of this.

    This sucks and I quit
    #2363334

    Hank Scorpio
    Participant

    Fear mongering is all over the news. It drives ratings. Also, the economy isn't in a free-fall. Did you have an doom and gloom economics professor? Also, if you believe all this to be true, you are in the wrong profession. The US will collapse before you can have it all and conquer the world.

    AUD - 71, 79
    BEC - 69, 74, 75
    FAR - 71, 74, 80
    REG - 74, 78
    #2363346

    Hank Scorpio
    Participant

    “common intelligent person knowledge” ROFL

    AUD - 71, 79
    BEC - 69, 74, 75
    FAR - 71, 74, 80
    REG - 74, 78
    #2363376
    BrightLIght
    BrightLIght
    Participant

    I had a smart economics professor…he was actually on MSNBC one time for a discussion. Anyways…Yeah I guess that makes sense in your book.

    1 in 2 people getting cancer, in my books, is already DOOM. And I am not changing the subject.

    This sucks and I quit
    #2363379

    Hank Scorpio
    Participant

    Yes. I'm sure that this will be circling the internet by the end of the year and that you are the first one to bring this up in the past 5 years…10 years, etc.

    AUD - 71, 79
    BEC - 69, 74, 75
    FAR - 71, 74, 80
    REG - 74, 78
    #2363394

    Hank Scorpio
    Participant

    Do some more research on the economy then. Don't take it from one single source. Then you won't be living in fear.

    AUD - 71, 79
    BEC - 69, 74, 75
    FAR - 71, 74, 80
    REG - 74, 78
    #2363415
    BrightLIght
    BrightLIght
    Participant

    I figured posting on here about this subject, and how it relates to the CPA profession, would be interesting. I can't wait to see what others have to say…If anyone cares to chime in. I'd really appreciate it.

    This sucks and I quit
    #2363436
    BrightLIght
    BrightLIght
    Participant

    I know that we have a GDP deficit, and that we owe a lot of money to China…and the stronger China's economy gets, the more in trouble we will be…

    People aren't going to want to get paid less than $10 for minimum wage here…so prices will rise even more, how many people are living paycheck to paycheck, 7 out of 10 houses on the street, even the crazy nice ones, are living paycheck to paycheck, and have massive debt…Wake up dude

    This sucks and I quit
    #2363439

    jeff
    Keymaster

    ROZE!!!

    You're getting sidetracked…

    (go study) 🙂

    #2363541

    Hank Scorpio
    Participant

    Me: Do the research. You: I don't want to. Also you: wake up dude. ROFL.

    AUD - 71, 79
    BEC - 69, 74, 75
    FAR - 71, 74, 80
    REG - 74, 78
    #2363682
    BrightLIght
    BrightLIght
    Participant

    Operator…Please remove my crazy post…

    A quote from “lost” series: “Yeah, but crazy people don't know they are going crazy”

    Think I might NOT be going crazy…but…please delete post just in case…thanks..

    This sucks and I quit
    #2363787

    Pork Flavored Bacon
    Participant

    “Unemployment is low because everyone has two jobs. Unemployment is low because people are working 60, 70, 80 hours a week and can barely feed their kids.”

    #2372631

    Unknown
    Participant

    LOL @ Jeff! I got sidetracked reading this. I really should be studying for REG, sigh.

    Anyways, I think we should focus on one problem at a time. First is finishing the CPA and getting our license :).

    AUD - NINJA in Training
    BEC - NINJA in Training
    FAR - NINJA in Training
    REG - NINJA in Training
    New to Ninja!
    #2372706

    WEEE2CPAYE
    Participant

    https://www.investopedia.com/financial-edge/0912/which-income-class-are-you.aspx

    Overall, I think this article does a good job at addressing your concerns.

    FAR: pass

    AUD: pass (1 re-take, thanks govt shut-down!)

    BEC: pass

    REG: pass

     

    #2373216

    Silent
    Participant

    It all depends on your definition of “middle” class.

    #2374269

    Tncincy
    Participant

    Oh Lord, You mean my CPA license won't mean nothing? Too bad, I'm studying anyway and when I get my license I'm going to celebrate and work and pay off my house and etc…..I'm not giving up my dream because of the stupid economy. Isn't economy apart of BEC? Oh Boy…well I'm in the middle of the class and trying to get out if it's just one foot or the CPA license. Study hard and good luck guys.

    It begins with a 75
    Been here too long as a cheerleader.....time to pass
    #2376270

    Keycat
    Participant

    @BrightLIght If you believe that the dollar is not backed up by anything, then invest all your resources in commodities. That's what people who anticipate all sorts of crises do. Also, why don't you consult your professor of economics about your financial planning? It seems like he is a genius and would give you a better advice than anybody here. Reading this thread makes me doubt that you are a CPA or even close to this field, but I can be mistaken.

    AUD - 77
    BEC - 83
    FAR - 81
    REG - 85
    going on
    #2381157

    jombe
    Participant

    This BrightLight/Clearylost3772/Roze is a troll for sure.

    AUD - 99
    BEC - 91
    FAR - 94
    REG - 96
    --------------------------------------------
    Done with exam. On with life.
    #2381658
    BrightLIght
    BrightLIght
    Participant

    @Jumbo – Jumbo fries? IS that why you have a name like that? Yeah I can change my name on here – whic is great – without having to change the username and all my posts are visible – not worth reading them tho- I don't troll…I just don't have alot of friends and I am a bit abandoned by my parents and brother. You are all i've got, you genius with your hihg CPA scores – still coming here – I'm never going to come here once I pass my exams, “On with life” – on with life by coming on this forum platform? SO what, I don't like to just talk about the CPA exam alone, I like to think outside the box…Tcincy – I think being a CPA will help alot with staying within the middle class…I just, I guess i wanted to find out more about what other things one can do – yes -investing in commodities, exactly what my econ prof was saying Keycat – I don't want to ask him for advice, he happens to be my nationality and we speak the same native language – you;d think that would actually motivate us to interract but my nationality is the type that wants to avoid each other.

    This sucks and I quit
    #2381838

    jombe
    Participant

    That's exactly what someone who's trolling would say.

    AUD - 99
    BEC - 91
    FAR - 94
    REG - 96
    --------------------------------------------
    Done with exam. On with life.
    #2381874

    Unknown
    Participant

    Hmmmm curious as to the nationality that wants to avoid each other now….

    AUD - NINJA in Training
    BEC - NINJA in Training
    FAR - NINJA in Training
    REG - NINJA in Training
    New to Ninja!
    #2386758

    DiscontinuedOps
    Participant

    The people who thrive in the new economy will be the ones who can adapt to change in their careers and lives, not the ones who can trade stocks. If you want to be in the upper middle class in 20 years, simply invest an appropriate percentage of your income into diversified, low-cost funds in tax advantaged accounts. Avoid using debt to finance any kind of depreciating asset (cars) and don't be afraid of using debt to finance appreciating assets (real estate). This is made easier with disposable income from a growing salary. That is where the CPA will be useful. All will be fine. The economy is not collapsing. The national debt is mostly a sign of strength for the U.S. The government owes more to its own citizens and financial institutions (who earn interest and grow) than it does to China. The fact that China has financed our growth for decades is good. Growing debt is fine so long as GDP grows with it. Not sure why I typed all this. Have a nice day.

    AUD - 89
    BEC - NINJA in Training
    FAR - 87
    REG - NINJA in Training
    FAR: Passed 4/19 - Becker (2 weeks, 25 hours)

    AUD: Passed 5/19 - Becker (4 days, 20 hours)

    #2387172

    ohiocpacma
    Participant

    I love how people think they have the most sound financial and investment advice. Except, all investments are subject to risk (a lot of people thought real estate was safe – but tell that to the guy in 2008/2009 who just retired how that affected his portfolio). My thinking is that you can not predict or control the outcome of your job, future, or investments. Try to live responsibly, but always know that uncertainty is the only certain thing about your future.

    We want to avoid any criticism of the way we administer this liberal gift. For we are taking pains to do what is right, not only in the eyes of the Lord but also in the eyes of man. 
    #2387367
    BrightLIght
    BrightLIght
    Participant

    Thanks Ohiocpacma – I understand we cannot control everything…and nobody knows exactly what the future holds…But for now, I am just going to be very greatful that I can do this CPA. I can't believe how blessed we all are, truly.

    This sucks and I quit
    #2389212

    Keycat
    Participant

    I know only one nationality who tend not to stick with each other when outside of their native country. It's Russians))).

    AUD - 77
    BEC - 83
    FAR - 81
    REG - 85
    going on
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