Why College is so Important :\

[Mudger]

I have been talking to my parents about everything I read, and while my mom has read a few Rich Dad books my dad is a little bit of the poor dady (but not poor 150k a year)

he sent me this .doc file attachment trying to explain why college is so important. I have yet to send him an e-mail back because I want my response to be well structured.

--yes i know its my first post, trust me its not a virus

[psykiv]

Nice letter. Even though I do have two things to say

#1: The religion bit at the end almost made me stop reading. I skipped over that paragraph.

#2: Why a library card? Just about everything in the library can be found online in one way or another (without having to deal with the possibility of a librarian that doesn't care or having to drive to 10 different ones to find the right book) Furthermore, you are usually less likely to find newer updated versions of texts in the library.

Other than that, I pretty much agree with him. Nowadays it seems like even McDonalds requires a college degree. Just look at college as an investment. In terms of richdad, the cost of the degree is the down payment and liability. The extra income produced monthly is your cashflow.

According to http://www.salary.com/learning/layou...85_Par409.html (which might be a little biased)

The median salary for a high school graduate is $26k. The median for one with a Bachelors is $43k.

The extra cashflow allows you to have more money at the end of every month, allowing you to have even more money.

As with everything, it depends on your individual situation. If you currently have a sucessful business or are making enough money passively from your investments (or even enjoy your job) then it would probably not make sense for you to go to college. Then again, if you are at this point, It does not seem like you have any of those.

One other thing about college, its not just the education, IMO, thats crap. My bigger concern is all of the networking oppertunities avaliable to you at a University. That is worth alot more, to me, than the cost of going to school.

Oh, and edit: Having a college degree does not guarantee an easier job with higher pay. It only makes you slightly more likely to get one.

[psykiv]

Originally Posted by FirstConsul

It costs a ton of money to go to university.

Which Universities would you be refering to? Most people just go to a two year college and then transfer to a decent university.

Miami Dade College is about $64 a credit. Taking 10 credits, thats $640 for 4 months. Throw in $200 in books, thats $840. $210 a month, about $7 a day. Thats probably less than what you spend going to eat breakfast and lunch at (insert fast food place here).

Hell, even the LAW SCHOOL i want to go to is only $8k a year in tuition for full time students.

Not to mention the 100,000,000,000,000 scholarships out there avaliable, or the many tax credits avaliable.

$1680 (two semesters) spread over a year, comes out to what starbucks charges for a cup of coffee. Expensive relative to what?

Edit: Yes, a degree is just for the paper lovers. That part I do agree with. But going to a university is not just for the paper, its also for the people you meet there, the friendships you may be able to make, and the possible business oppertunities that may arise from it.

[WizTrader]

4 year standard is sort of expensive-but thats life.


The idea of schooled education is taking for granted-and often rightfully so-that someone knows more than you do on the particular subject they are teaching.


While college isn't good for everything-if you want to go into the sciences-lets say-I assure you its best off you go to college to become a master chemist or physicists.


depends all on what you want to learn and how you want to learn it. The best thing a teacher does though-is teaches you how to learn.

[WallStGolfer31]

College is very important.

It's a structured enviroment that sets up the basis for futher on the job learning and gets you very familiar with the basics of what your studying.

I tend to be discusted (not personally) at people who disagree college is not important. You can't expect to be able to function in a skilled job if you do not have the education that sets you up for it. I'd like to see someone decipher and interpet a balance sheet without taking at least a class like Financial Accounting, the most basic college accounting class. I'd like to also see someone compute market volatility on theri own without taking stats, you get the idea. College is needed if you want a good job in the finance field.

[WallStGolfer31]

Originally Posted by FirstConsul

That piece of paper is nice.
I couldn't even get to see Fidelity representatives. And I offered to work for them for free and would trade my portfolio there for a year to show them grrr...
And no reply from other major brokerages in Shanghai hm. One day maybe I'll acquire them and fire them all

What are you looking to do?

[WallStGolfer31]

Originally Posted by FirstConsul

Broker assistant etc for free. That's for now. Later on, broker->> hedge fund manager--> global financier

How old are you as well? What's your education background?


usually hedge fund managers have a background in an investemnt anaylst posistion (within a hedge or mutual fund posistion.


mine is (Jr anaylst, get my MBA in Finance, Sr. anaylst, Jr Portfolio manager(within hedge fund), Portfolio manager (also within a hedge fund), then hopefully, have my own Hedge fund.

[Matt Moss]

He's 15. Not exactly much schooling, but, then again, he's young.