- Personal Finance
Good Reasons to Get an Education
Money, Money, Money
There's a song that states that more money equals more problems.
It was a popular song, but it was a total lie. More money equals less problems. There are so many problems in life that money can solve. Sure, having money doesn't mean all your problems go away; but you'll have less problems. Not having money means you're going to have more problems.
So, the main reason to get a good education is for money.
However, you can't just get any education. You need technical or professional skills.
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Don't Follow Your Passion...
... if it's not a technical or professional passion. If your passion is medicine, then by all means become a nurse, doctor, surgeon... but if your passion is archaeology, please don't become an archaeologist.
You might have heard people tell you the same old BS, "Follow your passion." Yes, it's BS. Don't listen to them.
"Follow the money," is the most appropriate advice that a young person can receive. Why?
Let me tell you a story: I have a friend who had a passion for cars. He ate, slept and drank cars. So, he decided to follow his passion and became a mechanic. He finished school, worked for a car dealership and now works on trucks. Do you think he wants to work on cars in his spare time? No way! He doesn't want to touch a car outside of work. His job ruined his passion.
Yes, he makes good money, because he has a technical skill. But, his passion for his hobby is dead.
The lesson is this: if you make good money at your day job, you can live your life the way you want and you can spend money on your passion. Pursue your passion on the evening and weekends. Lots of passions don't make money (e.g. painting, drawing, traveling, cooking, stamp collecting, etc.), so they need to be supported with technical/professional skills that actually make money.
Follow the money and you'll be able to follow your passion.
Get Technical or Professional Schooling
Whether you decide to get a technical diploma (two years), technical degree or professional degree (four years), you are almost guaranteed to be able to find a job upon graduation and are equally guaranteed to be making good money.
For example, if you become an auto mechanic (one year of school), you will start by making about $40,000/year as an apprentice and once you're a fully licensed mechanic (one year later), you can make about $55,000/year. However, if you graduate with a degree in sociology (four years), you probably won't be able to find a job in your field and you'll end up working a customer service job for $30,000/year. Does that sound like a good bargain? Not really.
Or what if you decided to become a civil engineer? Well, you'd spend four years in school, probably get a job before you even graduate, and then start off by making $60,000/year. Sounds like a good deal, eh? What if you wanted to become a lawyer? You'd spend four years as an undergraduate, then three years in law school, for a total of seven years. But then, you'd make $90,000/year starting!
So, let's compare these various graduates. After 7 years, what has each person made?
Now, what about after 10 years?
Well, what about after 20 years?
Obviously, we can see what the long-term prospects for each of these career choices are. And, this is an oversimplification: it does not include the raises that would happen over your lifetime. You can also rest assured that those with a technical/professional education would receive massive raises compared to those without.
Types of Money-Making Education