Is college worth it ?
Member since 2020 · 10 posts · 17 votes
I'm a 17 year old kid just now beginning my investment journey in Real Estate, Stocks and Bonds. I'm currently undecided on whether or not to go to college. Should I get a job, join the service and use VA benefits to my advantage, or should I go to college and take finance, marketing or business classes?
I understand there are a lot of ways to go about my future but my goal is to make money fast, a lot of money might I add. I’m willing to work for every penny but I’d like to have much more passive income then active by the time I am 30.
Self-improvement through college isn't a bad thing, but I wouldn't go into debt to go to school. Invest while you're going to school... it is possible to do both at the same time.
I was able to obtain a college degree by using my military benefits, but the only real advantage was it allowed me to accelerate my real estate investing by providing a good income. Basically it was a vehicle for getting more real estate.
Looks like you're in Ohio so you might check out the Ohio National Guard and see if they have a 100% tuition program. The Guard typically has good tuition programs at state universities. You could also look into the military academies such as West Point or join ROTC at a university such as Dayton, Kent State, OSU. Those programs provide 100% tuition. The military would teach a lot of transferrable job skills such as leading teams, building/utilizing systems, process improvement, supply/inventory, etc. I would look more at the officer side instead of enlisted... I've been enlisted and officer and are very different.
Don't be fooled though you don't necessarily need college or the military to be successful in real estate. Hustle, dedication, and self-development can go a really long way in this business. The resources are readily available.
Whatever you do stay engaged in real estate. After 21 years of service in the Reserve my monthly retirement check will equal about what I would cashflow from six or seven single family properties. Of course I wouldn't have earned the money to buy the single family homes without the military and my degree.
If you go to college get a degree in something that pays money, not under water fire prevention or some useless degree.
Do both. Most of us have jobs, real estate portfolios, kids, hobbies, other interests, etc.
@Nathan Smith
Columbus State Community College for 2 years —> Ohio State University for the last 2 years is the way to go!
....my opinion
Good luck!
@Jim K.
This was deep, but spot on.
college was the best networking opportunity i ever had. learned a lot but the connections i made have been leveraged over and over.
@Nathan Smith I went to college because it was what everyone else did. The one thing I wish I did or knew looking back was finding the one thing I was passionate about and sticking to that one thing. Nothing to me is better than being passionate about something and being so skilled at that passion. If that something requires a lot of school then I say go to school. Become the best person at that skill whether it be a lawyer, scientist, finance major etc...School has a ton of benefits. If what your passion is doesn’t require school or x amount of degrees then I say don’t. If you know deep down that real estate is it for your then do it, become an agent, get experience in it that way, that will leave you the option to becoming a broker one day, do some property management, get certified in that. All these licenses/certs may not be important but to me they can’t hurt. They don’t require much time when compared to your traditional 4 year college degree but they’ll all help sharpen your skills.
If I was 17 and had to do it all over again, I wish someone would have given me some insight into real estate licenses/certifications.
This is what I would tell my son if he asks me the same thing.
Good luck young man
@Nathan Smith
Don't take on debt to go to college. There are alot of options to get a college degree paid for or mostly paid for by someone else. You've already mentioned the military, but many private companies also offer tuition assistance programs. Although you would be working for active income you could learn a trade while getting a free or almost free college education.
Unless you are pursuing a professional designation like doctor, lawyer, dentist, or accountant, a college degree is not worth what it used to be. The quality of education has declined precipitously in the past few decades and many college campuses have morphed into indoctrination centres for the left. Tuition fees are astronomical and definitely not worth going into debt for. The whole point of a college education used to be to develop critical thinking skills but that is now frowned upon. Tow the official line or be cancelled. Why would you pay money for that kind of abuse?
@Nathan Smith yes yes yes! Go to college! Thinking about starting in real estate is great and you should do it anyway, but there is a lot of competition and success is not at all certain. Education gives you a back up plan in case real estate or any other entrepreneurial idea you have doesn’t work!
@Nathan Smith go for a semester and try it out. I dropped out after one semester because it wasn’t right for me. However, it may be right for you. I also own student rentals in the central PA area so your you’re going to school there let me know!
@Nathan Smith no chance. The ROI of college is not there for a guy like you if you've got your head on straight.
I agree with @Matthew Wilson. Consider going to a community college for a trade like electrical, plumbing, HVAC and learn more about the construction side of things. Even radiology/sonography technology and some health related degrees are offered at community colleges. Those are high paying, high demand jobs where you can finish training in two years and will make more than I do as a teacher with a master's degree. Use Occupational Outlook Handbook to see which careers will have good growth the next 10 years (Google 'OOH' and the handbook should show up). The military sounds like a good option too. Lots of opportunities and growth and connections to build a good network.
@Kai Van Leuven mentioned it might not be a great time to buy; properties are expensive now and it's competitive to get your offer accepted. Now might be a good time to get your education/find a career and wait to buy until it's not as competitive. I'd say continue to look at/analyze properties and figure out financing options available to you so you know what to look for you when it's time to buy.
I love that you're thinking about this now. I'm a middle school teacher and taught high school. I'm trying to get my kids to think more on investing and future. Do you have any advice for me on how to peak their interest? What got you interested in investing at your age? Thanks and best of luck!!
@Nathan Smith Graduated from Penn State with a degree in Nuclear Engineering and it got me a good job that is helping me save for investments. However, I didn't find out about real estate until August this year.
I'd say, get a business oriented degree (supply chain, finances, business management) and use that degree to find a good paying job to save up for real estate. You learn something applicable to your long-term future goals and you hedge your bets with some stability.
Good luck in whatever you choose to do! Fr the sounds of it, you have the drive to make it work either way.
It depends. Do you want to go into the military for a career because you find joy in that? If so, that's awesome and you have two options. You can go in with a degree and start in the military as an officer, or you can go in and let the military pay for college and pay you to go (bonus!). The military rewards education with more career mobility and access to higher paying jobs. My husband served 8 years in the Air Force and has worked for them, as a civilian for 14 years. When he went in he didn't have a degree. Six years after he got out, he stayed working there and he went to college. They gave him credit for many of the courses/training he received and finished his B.S. in IT in about 2 years. Almost immediately after, he started getting selected for interviews that he wasn't getting call backs for before (even when they didn't require a degree). He has gotten 3 big promotions and big pay raises each year. So essentially, if you're going into the military a degree is worth it! Recently, he was selected for a Master's program and the Air Force is paying for it:) On the opposite, I have my B.S. in Accounting. I own two businesses and make most through real estate. I feel my degree was a complete waste of money. The information I learned, I would have learned on my own. If your sole purpose is to make money, degrees are not necessary, but can be valuable. Do your best to stay out of debt and go to a school you can afford with transferable skills and get REAL skills. IT and anything tech is great. My husband can easily take his skills almost anywhere in the world and get a good paying job. And use the campus as a networking opportunity! If I could go back, I would have taken the money and bought more real estate with it in 2010, 2011. Whereas, my husband should have gotten his degree much sooner. So yeah, it depends...
Go to college!
Get your 4-year degree in a school with a building and a winning sports program.
You can get your Masters online.
What you learn in college, may not be evident for years after. Use this time to educate yourself and develop a drive to a career. A career does not need to be THE CAREER, but the focus and dedication required for the first career, will help hone your tools for the next.
Lots of guru's will say its a waste. You will only be young once, and you will be working at a career the rest of your life!
I would focus on learning about money, and what makes us put value in absolutely nothing! Learning about MONEY, will help prepare you for a better education after college.
Think you are going to miss out? All we have is time.
One neat thing about college, is that you will be taught theories. Many will be dead wrong. If you continue your education past the books and lectures, you will be further ahead of something better than this who just follow the other guy and his direction.
I say go to college, make that debit, and learn how to make it seem petty and little, compared to the money your investments bring you if you pay attention, and act at the right times!
@Nathan Smith
Columbus State Community College for 2 years —> Ohio State University for the last 2 years is the way to go!
....my opinion
Good luck!
Excellent advice! I went to a J.C. then transferred to University after getting my Associates, too. I lived at home and worked, so that I could pay my tuition every quarter. And help from parents definitely helps:)
@Nathan Smith
I'll reiterate what someone said earlier: know your why.
Making a lot of money is a means to an end, not an end of itself. As a guy with three degrees and a well paying W-2 job, knowing my why sooner would have likely led me to make different decisions along the way. Military service may have been one of the routes given all of the benefits including being paid to go to school and the VA benefits for real estate. That would have been a calculated, leverage based decision. Plus it would have tapped me into a network where you absolutely have to be an insider to be fully trusted.
College, if you go that route, should be the same. If you do that, get help from family or a friend buying a house or multi-family property in your college town, rent the rooms out, and get invaluable, on the ground experience as an investor and property manager. Run it like a business while getting your education on the side. You'll come out ahead financially and be ready to make bigger moves after school is a wrap.
Brandon from Bigger Pockets talks a lot about his vision, knowing his why, and how powerful all of that can be. It sounds like you're ready to work on that. From there, make a calculated decision if college, the military, or trade school to become a plumber, mechanic, etc is right for you and your situation. College is fun and can be the right fit but it's not for everyone and it can be damn expensive.
@Jim K. I didn’t grow up with much but my father always worked very hard for my family. He lost his job 2 years due to the position he had being taken out. He still worked hard and gave us everything he had, including the entirety of his retirement plan...
now I’m sure you’ll understand why I want to be financially free, sooner then later after telling you that.
I also want to develop and invest in new Technologies, Transportation systems and more sustainable Energies. There’s a lot of problems in this world and I can either do something, or nothing. I’d much rather do something...
@Nathan Smith unless you’re a genius, I would get a college degree... no matter what you choose to do in life, that will give you more credibility!
I'm a 17 year old kid just now beginning my investment journey in Real Estate, Stocks and Bonds. I'm currently undecided on whether or not to go to college. Should I get a job, join the service and use VA benefits to my advantage, or should I go to college and take finance, marketing or business classes?
I understand there are a lot of ways to go about my future but my goal is to make money fast, a lot of money might I add. I’m willing to work for every penny but I’d like to have much more passive income then active by the time I am 30.
Making money is a weak and vague why. Without knowing what you like (besides $) and what you are good at, we're all just farting in the wind. GIGO.
If you are handy, I'd do a trade school probably. Take some local community college biz and accounting classes on the side.
Over the years self-managing a rental portfolio, having plumbing and electrical and handy skills (80%, but not licensed) has saved me the most $ aside from drafting contracts and negotiating and putting tax peas under different shells.
But $ isn't the end all when it comes down to it. Time freedom and giving back does it for me. We attended and were engaged in a ceremony for 9 new Eagle Scouts yesterday. Surprising them with the gift of time and some $ was the type of why I like. What motivates you?
@Nathan Smith
I just graduated college with a business degree. Instantly started my own business and am now investing in real estate.
College was a waste of 4 years from a business/investment standpoint.
A handful of super meaningful relationships, memories, and life experience is what I took away from it.
But that’s not to say you can’t accumulate those experiences by not going to college!
@Nathan Smith
College was the 2nd best part of my life next to on the field in high school football. I’d never trade it.
I’ve been working hard ever since to get properties and raise a family. My w2 income made buying my properties achievable. I think once I’ve made it I’ll continue working as an engineer but take more vacations.
What do you plan to do once you’ve made the money and are 30? Good to know what you are rushing towards and sacrificing your youth for.
@Nathan Smith get your real estate license and be a real estate agent. You will learn everything about contracts and just the process of real estate in general. Depending where you live all you have to do is take a course and then pass the exam. I mean if you really wanna join the military I guess you should but it's totally up to you. And you should only go to college if you absolutely need it for the career you want. Don't just go to college just because you think you have to or because everyone else is doing it.
You should experience college at least once. Take a year at a community college, pick some courses you would be interested in. College will round you and teach you the importance of budgeting your time and energy. It will be a little stressful and you will have to work hard. You will benefit from all different subjects that at first you thought would not benefit you. There is a seemingly faint necessity to go to college at your age, especially thinking that you might not get anything from it. You need to find out what you don't like to know what you do and everything, I mean everything in life are just deposits in the bank of experience and knowledge that will need to be withdrawn in your future.
I recently graduated from PSU in 2019 with a degree in Structural Engineering which led me to a good job which I enjoy. However, I too would eventually like to leave the 9-5 and achieve FI; having a good paying job will only accelerate my savings for future investments.
College can be great choice if your academic interests align with a favorable salary (engineering, compsci, etc.), and there are a plethora of ways to minimize your debt by the time you graduate. For example, my major always had scholarships opportunities, which surprisingly had very little competition.
Read this book "outliers" to see how some people/outliers like Steve Jobs and Bill Gates succeeded without college education. Bill Gates already had more than 10,000 hours of technical computer knowledge through high-school. To me, college is the best comprehensive program for you to become an expert in a topic. Even Elon Musk could not be Elon Musk if he didn't have a technical PhD.
I definitely recommend having college education on a topic that is helpful for you to make money. College is like an investment that you can use for the rest of your life.
Good luck either way .