Am I on the right track?

**Bob B.** · 01-31-2013, 06:58 AM

Originally posted by UnknownXV View Post

Of course, pursuing a higher education could boost my earning potential, but I stress how important it is for me to retain this low stress life. I'll live longer!

Go to College = Live 7 Years Longer!

GSB news - Why A College Degree is Worth the Cost

National Poverty Center | University of Michigan

These are just three sites from a quick google search that show that college educated people are healthier, and live longer. People with "some college" live longer than those with no college. You don't have to go to an expensive college. You don't have to take on massive amounts of debt. Yes, in the short-term your life will be more stressful. But, in the long term you are likely to be healthier, happier, live longer, and make more money if you go to college.

**The_Wiz** · 02-01-2013, 09:52 AM

Go to college, but listen carefully:

- Go to a community college for as long as you can. It's a million times cheaper and offers the same education value.

- Apply for every grant known to man. At the university I work for, you can get a grant if your parents work at an assembly factory. There are grants for almost every kind of person/living situation/race out there.

- After your start at a community college, finish at a state school. They are so much cheaper it's ridiculous. The main reason people stress about life is money, and student loans never go away. You have to either die, or lose all 4 of your limbs for the fed government to forgive your student loans. As long as you have a heartbeat and a social security number, they will get their money. They can garnish up to 25% of your wages until every red cent is paid back, or they will take your tax returns every year until it's paid.

- Don't get loans for a dollar more than what you need to pay for your class. Don't get any if you can do so, but if you do don't take extra to buy books, or pay for your parking pass, or especially not to live on. I see people graduating college with $80k+ in debt for a job that pays $25/k a year. Work while you're in school, live off campus, and eat ramen noodles and beans.

- Lastly, choose a relevant field that you will enjoy. This whole, "you can be anything you want to be" is a nice gesture, but unless you have a rich uncle sending you 3k a month allowance, it's not reality. Having a degree in museum history is a great degree if you know a guy that does the hiring at a local museum, otherwise it's impractical. Do your research, talk to your advisors, and think long and hard about what you like to do, what you're good at, and what kind of money you want to make. So many people get degrees in something, can't get a job, do something they either don't like to do or down right hate, and look back 20 years and say that they wished they'd have been a nurse or worked with computers rather than gone into Exercise Physiology.

- One last thing - you don't HAVE to go to college. What I mean is, if you hate school, don't go. If doing homework, studying, and spending the next 5 years or so in school isn't something you can see yourself doing, don't do it. Nearly half of all college students drop out of college without a degree and with a lot of student loans to pay back. There's absolutely nothing wrong with learning a trade. Mechanics, furnace repair men, and plumbers will always be needed. You will fill a niche and learn a trade that very few people know. Get 100 people in a room and see how many can fix a car or a furnace. They also make good money for doing it.

That's my .02 cents. I've worked in higher education for a while, and wish every kid coming into college was told these things throughout their lives.

PS - Hi Everybody!

**MonkeyMama** · 02-01-2013, 12:19 PM

Agreed with the others. You have learned the lessons I learned in college/as a young adult. Though I have never been homeless, I think appreciate on some level more than average because my father grew up very poor. As such, a college degree was EVERYTHING to him, and was always pushed on me as an important way to not end up homeless or "very poor" like much of my family.

The college guidance I did receive from my parents was A+:

--Dip your toes in several different areas, no matter how you can. Volunteer, take classes, search out mentors. Don't wait until you have a college degree to realize you chose the wrong career path.

--Do what what is both *practical* and that you love. If you are a musician, teaching music is probably more practical than starting a band. You can do the band thing on nights and weekends. Just this kind of thinking. Seek out career counseling and talk to as many people as possible about your ambitions, to get other points of view.

--Trade school is a toughie because it is so expensive, but I do agree with the last comment that it doesn't have to be college per se. You need to work your way up someway, somehow to a higher income. College is not always the way.

--The more you can think outside the box, the more you will stretch whatever income you have (if you choose to keep income low). I know people who have done GREAT on very little incomes. They are very creative and "glass half full" types. You could always seek out a second job in the interim while you build up more of a nest egg. Does not have to be "forever." If you'd rather work several jobs to jump start your savings, then do college right now.

I personally love my job and doesn't matter to me how many hours I work. USing the advice above, I think I have done well maximing pay and passions. BUT, I also highly value work-life balance, and that has played in my employment choices. Sometimes you have to work very hard to get to that point. I busted my butt in college, and for about 18 months at my first post-college job. I don't have too much responsibility or hours at current job, but employer will retire soon. I know I will have to re-prove myself at some point, to a new employer. Maybe take on more to prove I am not a total lazy bum.

But once an employer gets to know me, I am highly valued and given a wide pass for valuing work/life balance. It has to be the kind of employer that understands there is more to life than work - but I have never had any trouble finding that type of employer. That is something to consider in career choice. You wouldn't pick something that requires insane hours. {I kind of did the insane hours route, BUT have seeked out the more laid back employers AND know I could always work part-time instead and still be highly compensated. But I definitely had to pay some dues to get here}.

**moneybags** · 02-01-2013, 01:36 PM

Originally posted by The_Wiz View Post

- After your start at a community college, finish at a state school. They are so much cheaper it's ridiculous.

With financial aid, sometimes a private college is cheaper than a state school. You have to do your research, which is made easy by using the financial calculators on each school's site. Some schools have huge endowments (especially the Ivys, if you can get in) and give out lots of financial aid to those who need it.

**jpg7n16** · 02-01-2013, 04:47 PM

Mindset is good.
Habits with the budget are good.

Income is terrible. If you want to advance financially, your next steps should be in how to raise your income.

College? Maybe. Overtime? Maybe. Management training program? Maybe. Something.

**Kooshiball** · 02-01-2013, 08:38 PM

I agree with JPG. In order to expand your means, you need to increase income. Although your hard work of saving money is impressive, inflation induced by central banks around the world will make your saving worth less and less (Official CPI is 3 - 4% but unofficial true CPI that reflect food and energy is well over 10%...). In this environment, we soon won't be able to keep up the rising cost of living (Basic commodities, such as food, electricity and more) even with decent job. The very first step to increase your income and wealth in this environment is to invest yourself though financial education. Increase your financial IQ and learning business and investing are absolutely crucial. Start going to the local investing meeting, go to seminar to expand the network of successful investors so that you can learn how to increase the knowledge to acquire more assets and learn about starting your own business. Job security only gives you linear income. Meaning that generally you must work harder and longer as you earn more money. You should start think about how to increase your income with minimum amount of your time so that you can focus on most important staffs.

I hope this will help...

**UnknownXV** · 02-03-2013, 09:03 PM

Thank you for the responses so far, much appreciated. I'm going to have to sit down one night and look at a long list of most known jobs, and just see what appeals to me the most, and go for that. Being in Montreal, Canada; tuition fees are quite low; probably the lowest in North America. That is a decent incentive to try, I just want to make sure I go for a good reason and that I know what I want to do. I don't want to waste my time or energy.

At least I'm not in any rush, and building up my savings for now means I won't be in debt when I do go, and won't even have to work while doing so. Hell of a lot better than rushing into it right after graduating high school imo.

Am I on the right track?