I’ve said it time and time again, the best investment you can make is in yourself! People will debate all day long about the benefits of a 401k, IRA, mutual funds, or dividend stocks. But I say forget all of that for you, focus on the biggest and best investment of all, your education! I know the naysayers will bring up those 5 people in the history of the world who becamse billionaires after dropping out of college, but that is akin to winning the lottery and I wouldn’t hold your breath waiting for it to happen. I spent the better part of a decade earning my bachelor’s degree, and then MBA. I will admit it was difficult and grueling at times, but well worth it in the end. I know that I wouldn’t be where I am now without all that time and effort.
Where I do agree with the naysayers is in the cost of your education. Too often people think that any degree at any price is worth its weight in gold. If that were true we wouldn’t have the ever increasing bubble of student loans that we do in this country. Last I heard it had outpaced every other form of consumer debt out there, which is no small feat. It’s really quite simple, for example, there are great jobs to be had in IT. An information security program is worth every penny and is well known for a good return on your investment. On the other hand, liberal arts is a fine degree, but you don’t need to spend $200,000 on a 4-year degree that will earn your $40,000 a year for the rest of your life. Considering interest, the time value of money, and inflation, you may not swim out of that debt in your lifetime.
As you can see it is really quite simple, get an education, but be smart about it! By earning a degree you can earn millions more in salary and benefits over someone with highschool diploma. In fact, it isn’t even a question about going to college anymore, it’s a question of how many degrees you should get. Because of this it is becoming even more important in discerning which college will best meet your needs regarding both education and cost.