Most people that know me well know that I really love education. I’m all for pro-learning, developing your mental operating system, personal growth, and studying. When I say this you may think that I really love school as well – but I don’t. Actually I hate school! And as far as financial success in life goes, is school really important?
I did the basic study like everyone else. I went to high school and got my 3.5+ or 4.0 GPA. When I went to college my grades were not ecstatic, but I did manage to get decent grades and graduate college in 3 years versus the 4 or 5 it takes it most taking 20-22 credit hours every term. Not to mention, I was running my business at the same time. I managed to get my degree in marketing at the University of Florida.
Although I think college is an important part of life for growth, learning how to get out of the house, and develop personal living skills, the educational material you learn there from the classrooms is fairly obsolete these days for life and financial success. Many of things are out of date, the education level is mid-level, and nothing is specific enough to really get to the core of the subject or field you need until doing internships.
Recent talk with a MBA Graduate
This weekend I had a chat with a University of Florida MBA graduate. He is a very successful financial adviser for a large Fortune 500 company. We started to talk about school education and college discussing the things that college actually helps you with in life and even though he has a higher-education level than me on documentation, we were both on the same page regarding the purpose of college. He mentioned that what he found during his MBA studies was that school is a way to meet and interact with people. The education level is just average or as much as you would learn from a blog expert. He mentioned that when he has to look up financial terms or definitions he uses websites like investopedia.
Now as I mentioned before, I love education, but I hate school. The primary reason for this is what he mentioned above. In today’s world I had a chance to work with some large businesses and small companies both of which are looking to hire people. Most of the time now companies are looking for something special or unique about the individual. What is it that you can do for them? What have you done before? As far as resumes go; almost everyone has a basic skill-set on the computer. So what do I do before I hire someone to work with me on a project or an extended period of time? I give them a test project.
It’s kind of weird to think of things in this way, since we are used to 60+ years of resume writing, but things have changed!
Where do I learn from now?
For the last 10 years I have been reading books, studying video courses, and going to professional seminars where the people teaching you are the best of the best in their field. This is where you will gain the most knowledge. It’s one form of learning. The other form is to actually get out of your comfort zone and implement it. By doing it – you get to test things out and learn from experience.
Some people may have plenty of education but very little experience. Others may be the opposite and have a lot of experience (could be horrible experience) and very poor education. A healthy balance of both is important.
Do I Need College to Make Good Money?
The real question, especially those going to college or are in school is probably do I need to go to college to make good money? Well define good money first? How much do you need to make? The answer is No you do not. However, what will separate you from the other people? You still need education, so it comes down to:
- are you disciplined enough to learn on your own?
- Where are you going to get your education from and from who?
- Are you going to be able to afford it?
- Are you motivated to stick with it?
Yes education is expensive if you don’t pay for it in college you will pay for it through experience or acquiring material. Some of my courses have cost me over $10,000 for just a DVD program!!! Choose your path wisely, but I can confidently say that college had very little contribution to my financial success. It was my motivation, ability to get out of the comfort zone, sticking with it mentality, getting things done quickly, and personal characteristics that got me to where I am now.