College debt? Real estate agent vs. Financial planner?

Question

I am currently 19 years old with a huge interest in real estate investing for my future. I have considered potentially being a financial planner for my earned income. I feel that these two go hand in hand because I will need to understand financial literacy in order to make calculated risks in my investments. There is also something in the back of my head that I am not starting soon enough and I am accumulating too much debt in the process of getting a Finance degree. Me and my best friend are actually living together and he is feeling the same way and has considered dropping out to become a real estate agent. Both of these jobs are based on commission and how good I can be at sales. Both jobs will require me to have exceptional communication skills and a network of clients. Do I wait it out and get a degree to make a higher salary and have debt? Or do I become an agent, understand the market, and stop my debt from growing? My biggest fear is looking back in five years saying I made the wrong decision.

Barry Pekin · Answer

@Jared Coffman,

There's some good advice above.

But seriously...  Starting too late at 19 years old????  If I could go waaaaaaaaaay back to 19 year-old me, I wouldn't be bummed that I couldn't go back to 17 year-old me.  You're making great decisions for your future.  It doesn't have to be perfect.  The fact that you're doing it is awesome!

Good luck!

Scott Jensen · Answer

I am a Real Estate Investor and a Financial Planner that only works with Real Estate Investors. The professions are wonderfully complimentary. I worked my way through college without debt (some time in the military helped as well).  I would continue on the path you're on; I can't imagine a better profession.

If you're a good financial advisor with a good niche there isn't much sales involved. Just be really good at what you do and work really hard and you can get plenty of business.  I'd recommend going the "fee only" route and avoiding the commissioned sales "Financial Advisor" jobs.  Send me a message if you want any additional information or have any questions.

Jacob Sampson · Answer

Life is all about making decisions with incomplete information.  All you can do is make the choices that stack success in your favor.  Statistically speaking, you should finish college.  Try living cheaper and taking on less debt, get a job waiting tables, transfer to a cheaper school.  Your options aren't either or and except for extreme cases, no one cares where your degree is from.

College debt? Real estate agent vs. Financial planner?

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