Why College?
Why even go to college?
For me, it was never a question. We are a college family. Ever since I can remember, it's been dripped into my mind that my brother and I would be college graduates.
Right or wrong, even if I refused, I was going to college and getting a Bachelor's degree.
My messaging to my kids has been similar but with a twist. Rather than focusing on college, our messaging has been on being educated, being a lifelong learner, following your passion, paying yourself first, and the value of hard work and always trying your best.
I want my kids to go to college, and I must admit that's my upbringing talking. If there was a good reason to not attend a traditional college, get the degree, etc. - then I'd be open to my kid going down that different path.
And the world is so different now. There are ways to make money that did not exist when I was a kid in the '70s and '80s. There are careers and industries that did not exist even 5 or 10 years ago.
I've worked for some very wealthy people who never went to college. These were successful entrepreneurs. I believe it's clear that just about everyone needs a bit of entrepreneur in them to have a separate stream of income. I can think of a few times where this would have come in handy for me in the past.
The internet is constantly showing us new ways to make money online.
Not What It Used To Be
Furthermore, more and more high school graduates are not interested in attending college. A study by Edge Research and HCM Strategists has uncovered some interesting data:
46% of potential college applicants planned on going to or returning to college.
41% were unsure of enrolling.
13% did not plan on enrolling.
For those that were unsure, or didn't enroll had the following reasons:
38% were wary of the cost and being in debt.
27% were concerned about college being too stressful.
26% opted to focus on earning money.
25% were unsure about what to study and what career path to pursue.
It's clear to see that colleges have their work cut out. They are finding it more and more difficult to attract students and all the money that comes with them.
Legit Options
There are so many great options that enable anyone to make very good money, without the need for a college degree. The first one that comes to mind is working as a firefighter. I have not seen any tax returns, but I know several firefighters who claim to earn over $150K per year in wages. I even know a handful who claim to earn over $300K per year. Wow. Right? If you enjoy the training and work, this is a great option to consider.
Then there are the trades to consider. Yes the world is getting more advanced and AI has the potential to disrupt how humans live; but there will ALWAYS be a need for someone to fix your plumbing, install your solar panels, repair your electrical, paint your home, etc.
And when it comes to promoting the trades, no one is better than Andrew Brown. He is always bringing great insights into why someone might consider learning a trade. He's a good follow.
Dive Into Something
It's not fair to ask 18-year-olds what they want to do for the rest of their life. But it's time well-spent to investigate what their passion is. What interests them? What sounds like fun? Then take the time to put that work into practice. For example, my daughter is interested in going into environmental studies. She looked for ways to put this into practice and so for the past year, she has been volunteering with the local non-profit Tree People. She is getting hands-on experience and this will help her with so many upcoming decisions.
There is no right or wrong to this. Every human is different. My hope is that everyone makes a good living while doing work that helps people, and brings fulfillment to the worker.
Growth Mindset
Regardless if there is college or no college; I feel it's important to acknowledge that every person has their own path. Totally unique to that person. I also feel that regardless of that path; it's critical to always be a student and to have a student's approach to life. Always wanting to get better at your chosen craft, always craving new ideas. If you agree with this outlook then I highly recommend you read Think and Grow Rich, by Napoleon Hill. This is required reading for anyone who wants to gain and maintain a growth mindset. I am on my fifth copy of this book and I read it every year. It was highly recommended to me many years ago by a mentor who is also a very successful entrepreneur. My kids also have copies. Truthfully, it's not their favorite reading; but it's still required reading. They are required to read one page per day. I view this as a wise investment of time.
Please share your thoughts on this.
By the way, the link above for the book Think and Grow Rich is an affiliate link, which means that I earn a commission if you end up clicking and buying the book. It's at no extra cost to you, and please if you have any questions related to this product, just let me know and I would be happy to answer any questions that I can, based on my experience with this amazing book.