How can we create a new generation of mindless corporate drones that have no purpose in life, so they can earn minimum wage to repay their debts?
Send them to a college.
Many young people make the most common mistake of going to college every year.
They will be spending 4-8 years of their prime "getting lost" at parties, having fun bro, and "chilling out" with the guys.
They will also be spending hours in class learning irrelevant things they won't use in real life.
However, academic intelligence and a well-framed piece of paper will guarantee a job after graduation.
What about "teacher-mentors", who are 90% likely to be obese, broke, and driving a Toyota Yaris?
You can get an MBA from professors that have never owned a business in real life.
You can study Sports Science, and you will find professors who aren't even physically fit. They can barely do 5 pushups before giving up.
Go to Economics class and learn from professors who earn $2000 per month in their 40's. The last time they had a 6-figure bank account , it was when they were playing Monopoly.
While you're enjoying these incredible benefits and learning all the important information, your parents can support you financially and help you pay for student expenses.
You may think that there are many safe jobs with a steady salary of $4000 per month waiting for you when you graduate from college at 25.
Companies are looking for highly skilled professionals like you. CEOs will open their doors to you, and hope that you'll be willing to work with them.
You have received numerous pats from your mom and pap, telling you how smart you are and that finding a job is going to be easy.
Oh, and by the way, I discovered some psychic abilities.
Unintentionally, I found the future version you after-college self.
The Best Predictions for Your Life After College
Congratulations! You have finally earned your degree!
Pop invited all their friends and family to stay in their apartment . They still love you, and they are supportive of you at 25.
You deserved a graduation party so everyone would know you are valuable, respected, and well-educated.
Everyone is wishing you all the best and giving you a pat on the back. You all smile, laugh, and have fun until...
This is the end of all the fun you can have today. You have to go to bed early because you need to find a job tomorrow.
You go to bed to get ready for the big day.
You soon discover that the big day will be repeated several times over the course of weeks or even months.
As soon as you cannot find work, you start to feel doubtful, disappointed and resentful.
This is how it works after:
"But, how can this happen?"
Now you are probably wondering.
It must have been the financial crisis and our government that destroyed our economy.
It is impossible that I spent my best years at college learning something that doesn't even make food for me.
Reality is hard on the face.
All your hopes, dreams, and ambitions were destroyed within seconds of realizing it.
"Wait a minute!
My dad told me that he knows someone who can help me get a job.
You are well dressed . This is the same costume and tie that you wore in your after-graduation party. to meet your potential employer.
You are so happy that you finally found a job that you didn’t even bother to ask about the job.
It seems strange that your employer asks you to change clothes.
You should be at your best on the first day of work after graduating.
You're already at work ten minutes later!
It would be futile to continue the story.
My crystal ball can see your future, but it's not fun to see the scores going up to "Real Life Vs You 1529-4".
I have a better idea for you.
Let's take a look back at the time when you were unsure whether college was right for you.
Are you ready to make the right choice?
Which college should you choose?
Do you need a student loan?
Is it a good idea to drop out of university?
You have been asking all these questions and still can't answer them.
You are thinking it wrong.
You have to think like a billionaire investor if you want to find the answer.
Charlie Munger, a billionaire investor and partner to Warren Buffett, would use , the powerful tool for inversion.
Think backwards and you will find the solution to almost all problems.
Instead of deciding if college is right for you, think about the reasons you shouldn't.
These reasons may not apply to you, but you shouldn't let them stop you from figuring it out.
These reasons should not be a reason for you to decide to pursue higher education.
It's as simple as that.
These are the 6 top reasons why college is a bad decision.
1. Because "high-end" degrees guarantee success
These points will be strongly opposed by many college-advocates. I use this argument because of that. This argument is one that I felt I had to tackle head-on.
You might be mistaken if you think that being a lawyer, doctor or engineer will guarantee your success after college.
Let me share a portion of a resume I received recently. A 28-year-old lawyer applied to a job my company offered. It had nothing to do with Law.
It was the position of customer representative. This is a great job. But why study at the Law School for years to be able to work as a Customer Representative?
My name is [deleted]; I am a graduate of Law School of University of Nicosia, Cyprus. I have been there for two years after having attended the Birmingham University. 28 years old, I consider myself intelligent and imaginative. I am ambitious and want to learn more.
I consider myself a citizen because I have lived in England, Germany, and Cyprus. This has allowed me to make friends from all corners and help broaden my horizons. I am also determined to learn more. I'm trustworthy, discreet and have good communication skills. I'm able to offer my services to companies that share my goals.
Previous work experience:
In the distant past, I worked as a waiter at a coffee-bar as well as an assistant to a car engineer. Recently, I was employed in the marketing department at company [deleted]. Since the past year and a quarter, I have been working as a lawyer in a law office.
Although I don't know the reason this person chose to study Law, I have received many similar resumes from engineers, lawyers, and other high-end degree holders.
A dentist also called me to offer a job but I have not heard from any other doctor.
It's a waste of time to study something "respectable", hard, and then work at a regular job.
One might argue that a neurosurgeon specialized in this field would not have any trouble finding work.
It is true that they would find it easier, because only a few people have such specialized knowledge. This makes it extremely rewarding. However, it would take 10-15 years to learn and really get into your field.
To make 6 figures, you would need to be in your 30s or 40s
That's okay if you truly want to become a doctor/lawyer/engineer etc. If that is your dream job, it's fine.
If your primary goal is to survive and then enjoy life by accumulating wealth, this is slowlane.
You might be able to become wealthier quicker.
Shout out to Farokh Sharmad. He is only 21 years old and is well on his path to becoming a multi-millionaire. Farokh is a celebrity that I do not know, but Forbes recently featured him.
Farokh has, like me, achieved something worthy of respect in an age when the greatest achievements of most people can be found running naked through campus.
You won't be successful in the real world if you get into a university faculty to study high-end subjects. It is important to realize that success in today's world does not necessarily depend on having a degree or being older than 30.
You can achieve things that you never thought possible if you choose to forge your own path. This is the message of Dare and Conquer.
2. Because your parents want to see you go.
Do you want to live a life that fulfills the needs of others? Or will you make it meaningful to you?
After you become legally adult, your parents are not allowed to control your life.
They want you to be happy and can offer guidance and advice.
Most parents don't give their children the right direction because they are afraid or have ignorance.
Your parents may not be rich or very successful.
They will tell you to get a degree from a university because "that's how it is".
They will not have any valid arguments to support their decision. They will instead repeat the following:
Earn a degree, get a job you love, have a family, and retire at 65.
This is the poem that most parents give to their children out of fear or ignorance.
Because no one has shown them the flaws of the plan, they believe it.
They will give up their dreams and desires to follow a predetermined path that will make their parents proud.
This is the story of most people who end up in this situation.
3. Because you believe you will have a job after graduation.
Excuse me, I couldn't help but laugh at this one.
The illusion of safety that a piece paper gives you is probably the most absurd reason to get it.
Every time I post an advertisement to hire employees, I receive dozens submissions from well-educated degree-holders in their 20's and 30's asking me to offer them the job.
They fight for a position that I offer, much like the pigeons who fight over breadcrumbs.
They believed their degree would lead them to a secure and safe future. But here they are, jobless, asking a 20 year old child to help them.
They are not being insulted or undermined by me. I also don't claim to be better.
They would probably have offered the job to someone else if they had better guidance in their lives.
It's okay to look for work, but it's a bad idea to spend 5 years trying to get a degree to get a job that you could have easily gotten.
Even worse is to live this way for your entire life.
4. Because it's completely free.
They wanted you to believe that. It is not cost-free to go to university
Let's not forget about countries like the USA and the UK, where you may have to take out huge amounts of debt to obtain a degree.
Higher education in countries such as Greece is free (sorta).
You can access the faculty of your choosing free of charge depending on your Panhellenic exam grades
There are hidden costs. There is no free lunch in this world.
You will need to take extra classes during your final three years of high school. This is because the school curriculum doesn't prepare you for the Panhellenic exam.
An average student to college in Greece would have spent around $10.000 to 30.000 on private classes in high school to get to college.
Although it's not a lot of money, it could be invested in other areas for a better return.
There are always opportunities cost to what you could have done for your money and your time.
You would get a better return if you invested the money in a business, or in street-smart education.
Moreover, the average student in Greece pays an additional $50.000 for living expenses, such as furniture, rent, and other necessities.
Eight years of high school and university equals $80.000 . This does not include expenses for post-graduate study that many degree-holders choose.
Here's what the return would look like if that money was invested at 8% annually
8 Years: $148074
30 Years: $805012
It would have nearly doubled in 30 years, if someone had completed his college education. It would have made them almost millionaires in 30 years!
All this would have happened without anyone having to do anything. You can just sit down on the beach and let compound interest do all the work. However, it is much more profitable to spend all that money on a piece paper than it is to invest in the investment.
This is not the end of the story.
Furthermore, each decision you make will not only impact the financial cost, but also the time and energy costs.
It also includes the hidden costs of completely ignoring a better alternative.
This is the power of opportunity cost. Furthermore, people who believe college is "Free" don't consider the opportunity cost or the value of their time.
To put it another way, college takes 4 years out of your life.
It's not worth spending four years studying for a degree, then going to work at a banana stand as a mascot.
Ever thought of the potential income you could have made as a self-employed person or entrepreneur?
If you were me, hundreds of thousands of dollars.
In other words, you should consider the cost of attending college before making the decision to go to university.
5. Because uneducated people don't succeed.
That's partly true. Uneducated people are less likely to succeed. However, you don't need to go to college to get an education.
Some of the most intelligent people ever to live never went to college.
Many of the most successful people in history never completed their formal education.
To become successful, wise and wealthy, you don't need a degree. However, it does require self-education.
I had 226E in books a few days ago. This is almost 1/3 of what the minimum wage in Greece is.
Although people complain about the minimum wages, they never invest in their own money to get out of the situation of being paid minimum wage.
The minimum wage is for average, low-skilled people who lack practical, real-world knowledge.
They wouldn't have been making minimum wage if they had the right skills and knowledge.
They would have received 1000x return on their money if they had invested 1/3 of their salary in 13 books, like I did.
However, you will be successful if you get a university paper so that you can work at 25 for minimum wage.
6. To be successful in your life, you will need a credential.
Don't worry about credentials.
Are you able to name the most valuable credential that you can ever earn?
You can have a 6 figure, 7-figure, 8-figure, or 9-figure bank balance. The bank statement can be stuck to your wall, so that all the well-educated losers will see it.
Financial power is worth a dozen times as much as a piece paper in a frame at mom's house. So she can proudly announce that her child graduated.
Money and self-study > A piece of paper that hangs on the wall
Freedom doesn't come with a piece of paper. A 7- or 8-figure bank balance will.
You cannot take lightly the decision to go to college.
It is important to make sure you are going to college because you love it. It's a bad decision to not fully commit to your chosen field of expertise.
You are most likely to spend your time there if you don't go for the above reasons.
Consider the opportunity costs as well as the time value. Use inversion to guide your decision making process.
Don't go to college if you don't want to.
It is a bad decision to skip college and sit on your couch while you play video games.
You will still end up earning minimum wage even if you have no formal education. Continuous, lifelong self-study is the key to becoming successful, rich, and free.