Friday, September 2

College Bound or NOT...

Just because Biden has forgiven current student debt does not mean this government forgiveness will continue...  in case you are considering going to college after high school.

But, is this something you really want to do?

  • Were you a good student?
  • Did you like to learn?
  • Did you want to retain knowledge?
  • Did you learn more on your own?
Granted, going to college today is not like going to college was 50 years ago...   and, that is the problem that I want to discuss.

College today is watered down so that students can pass through easily and colleges and universities can increase their revenues.

The other issue is that when more and more students graduate from college, there will be less and less jobs for college students...  Great supply, low demand, mean salaries go down...  the labor market become diluted with too many college students...  and, because the courses have been watered down, companies have to teach student what they did not learn in college.

Needless to say, that will piss your employer off.

You don't need a college degree to be a:
  • Restaurant manager
  • Building contractor
  • Computer programmer
  • Open your own food market
  • Repair foreign cars
  • Refurbish houses - home repair

Truck drivers like 18-wheelers who have their CDL can make $150,000 to $200,000 annually.

Before I left North Carolina in 1990, plumbers and electricians were making so much money that most of them own half a dozen or more rentals properties that provided them with an extra income that they did not need, so they built their home on the lake...  just like the multimillionaires...  piss the millionaires off big time...

One of my college roommates dropped out of college and started flipping houses.  By the time I got out of college with my 4 year degree 7 years later because I went into the military for a couple of years, this dropout had stopped flipping houses and was flipping apartment complexes.  He was already worth several millions of dollars if he were to sell off his property and pay off his debt.

When I was 48 years of age, he had already retired and was living off interest from $10 million or $4,000 each month.

Here is something to think about.
My neighbor is a 60 year old legal Mexican immigrant who has been in this country a little over 20 years.  He started out in Mexico as a cabinet maker and when he immigrated to Texas, he got on a crew building house.  Five years later he move to TN because his wife is from this area and started his own home building company with him and 2-3 others.

In 2022, he is building his last house for himself and his wife.  He owns and rents 10 houses which gives him an income of $10000 each month.  Or, he can end his rental contracts and sell his houses with no debt to pay off.

He has no college degree and no technical or trade degree...  all his knowledge and experience comes from on-the-job.

Once this last house is done, we will play chess and drink non-alcoholic Sangria.

Think long and hard if you want to go to college and make sure that you really understand what you are getting yourself into.

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