College vs. No College?

Hey Cashflowers,

This week we are diving into one of the most discussed topics in the entrepreneurship world today:

College

Should you go to college? Should you take those 4 years to do something else? Does college align with what you want to do in life? These are some of the things we’ll be weighing out in this week’s episode.

Even if you’re not going to college in the future, this is a great resource to weigh the odds for someone else, like your kids!

Let’s dive in!

Opportunity Cost

The opportunity cost of going to college for most people is very high, and in recent years the cost of going to college has nearly doubled while wages coming out of college have yet to rise.

This being said money is not the only opportunity cost of going to college.

The 4 years of your life being dedicated to something is an extremely developmental stage of most people’s lives, as most people go to college between the ages of 18-22.

During this time you’ll be committed to your learning (hopefully because you’re paying for it) and rather lacking learning other skills you could be learning if you weren’t going to college.

The total opportunity cost in this case is the time you’ll spend at college, the money you’ll spend, the other knowledge you could learn on your own outside of college, and the money you could make when you’re not in college.

Job Placement

Maybe 50 years ago more jobs required a degree, but now more than ever companies like Google and Microsoft have removed their requirements for college degrees for exchange with more experience.

Also, most jobs that people do within companies don’t require a college degree anymore, so what’s the point of getting one if you see yourself there?

Job placement is one of the “Safety Nets” of college, but in reality that safety net is just an advertisement for college enrollment and a surefire way to make your family push you to go to college.

So if companies are now looking for more experience and even skills rather than degrees, what could be more useful?

4 years in class or 4 years learning in the real world?

It depends on where you want to go. Since college has become so expensive and placement jobs out of college haven’t increased in pay at all, if your goal is to make money then you’re better off going on your own.

BUT

There are two cases where a college degree will help you:

1. If you’re going into a field like nursing that requires a degree, and you want to do that, then you’ll need a degree

2. If you’re able to make it into an IVY league school, the average salary out of college is in the millions, so the cost of college there is marginal compared to the money you can make without it

What Kind Of Person Are You?

College is something that makes you more or less pay attention and succeed because you’re paying for it.

If you’re ambitious, try to learn daily, and can dedicate 4 years of your life to learning new skills or one skill really well every day, then it’s the best option for you to not go to college and rather use that ambition.

With 4 years of your life and $200,000 you can hone in on some great mentors and learn some really valuable skills in life.

AND on top of that build a network of these people that will definitely help you grow in whatever sector you choose to build a path in.

A network like our recently released community for entrepreneurs and cash flowing folk alike.

On the flip side, if you’re going to skip out on college to stay at home and play video games all day while smoking weed, college should be your first choice.

In college, you can still do these things and your homework at the same time, and get the same end result in the end:

Your degree

So, in the end, you need to consider what kind of person you are to really know if you can succeed without college.

Ending Resource

This video by Alex Hormozi talks about many of the concepts in this newsletter and shows many facts to back them up.

Especially coming from a guy who runs a $200m+ portfolio and went to an IVY league school.

Take it from the best, we suggest you watch it!

That’s all this week!

-Cheers!

Cashflow Chronicles

Top Resources of the Week

In Case You Missed Previous Newsletters:

Tapping into Billion Dollar Markets With This Small Business Model

7 Core Habits of Millionaires

7 Steps To UnFu*k Your Life and Start CashFlowing

The Best Business Credit Cards For You

Did someone forward you this email?

Thank them for us, and then claim your own free subscription.

P.S. want us to write about something specific around finance, entrepreneurship, or business? Reply to this email and we’ll make sure to write about it!