http://www.youtube.com/watch?v=4RWYzyZtYhg

I never said it was dumb to go to college. It’s dumb if you spent a fortune on a degree that lands you a job that didn’t require it in the 1st place. Most degrees shouldn’t be measured in any monetary value, but with our money culture, it has become exactly that. The typical Asian goes to college because he or she wants to land a good paying job after graduating, so do many other kids. I went to college practically for free, so I didn’t care what I studied. I also advocate going to college at a later age when you are more mature and know what you want out of it.

I agree with Lingyai–your statement is just not held up by facts.

More importantly, you’re proposing a one-size-fit-all solution for all people, which is exactly the opposite of my point, which is that each person needs to find a passion for what they personally do.

To say it is dumb to go to university is just not held up by facts. Can people make a ton without a degree? Yes. Are there degrees that are of very low value? Yes. But it is far more likely a person is going to earn more money if they get a degree.

If you can get in to an Ivy school it would be dumb to to take it.

This is the same reason why Asian parents should stop wasting money on their kids enrolling in Ivy Leagues. It was especially painful for the Asian guys at Columbia who took part in the interracial dating experiment to find out how undesirable they were! *laughs*

“I think education as a means of financial empowerment is overrated. You can make mad money becoming an electrician or plumber, and you don’t need a degree to do so. I know stockbrokers, realtors, and mortgage brokers without degrees who drive nice cars and own multiple houses. You don’t need a degree to make money, and you can save yourself a lot of money by skipping one. If you compare doctors and plumbers and compare their salaries and expenses, doctors don’t break even until they are in their mid-forties.”

Good to hear that you’re making it work!

I think there’s also reason to think that if you don’t do it naturally, then you probably won’t do it well after graduation. In other words, if you don’t ALREADY cook for your friends as a side hobby, you probably won’t make it as a chef. If you don’t already draw to amuse yourself, you probably won’t make it as an artist, graphic or otherwise. If you don’t follow the stock market, you probably won’t make it as a stockbroker.

Which probably means that it’s important for people to find out who they are as they get closer to working age. I know it’s hard to do in a recession, but people need to find passion for work.

I went to a high school with plenty of kids from well-off families, and it was ridiculous how some of their parents pamper them. We’re talking Oakley sunglasses and $300 Polo sweaters and Armani jeans. And why the hell would someone give their kid a brand new Mercedes-Benz as a first car? You know it’ll get dented, scratched, or worse. They treat them like toys to be discarded once their interests run out. I didn’t get my own car until my second year in college. I paid for that clunker and loved it. I know it’s a cliche, but you do get a better appreciation for things you work for.

I remember my parents allowed me 1 credit card during college, and they carefully tracked every expense and made me pay off the bills fully every month. They would give me hell if I even let $100 carry over. I used to find it highly annoying but they taught me very important lessons on how to live within my means. These skills translate to other parts of my life, like knowing how to set realistic goals and count the steps to achieve them, how to keep promises and meet deadlines, etc. It gives you a real sense of independence and control over your own life.

I’ve met quite a few people who did not know what they want in life or expressed any interests in the programs that their parents dumped tens of thousands into. I think it’s a mistake to teach kids that college is the only logical “next step” that they HAVE to go through after high school. Unless they have clear goals in mind, those years could be wasted time, money and unnecessary stress.

I believe it is beneficial for some to enter the work force after high school so they could see the real world from the perspective of someone starting from the bottom. Many graduate from college with a false sense of security and entitlement, believing middle or even upper class living is within their grasp with their diploma in hand.

And oh, I’ve been doing fulltime for some time now, although for the past couple of years I’ve shifted to temp. It’s great having new surroundings and meeting new people every few months, but at the cost of benefits and job security. Not like those two exist anymore even for fulltime workers these days. That’s why despite some hardships, I’m still very grateful; half my friends are currently out of work.

I mean, do 5 year old kids really need a pair of Nike Air Jordans at $80 a pop? Isn’t that more about flaunting status? And who cares about if a first or second grader looks cool?

And as for slacker law school students, you’re right. If they’re not going to work hard, they’re wasting their time and money. Warren Buffett had an interesting take on inherited wealth. He felt that it was his money, not his kids. His kids didn’t work for it but benefited from the comfortable lifestyle Buffett was able to provide. He wanted them to know the value of hard work and to be able to make their own way. Buffett once commented, “I want to give my kids just enough so that they would feel that they could do anything, but not so much that they would feel like doing nothing”.