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Old 09-18-2014, 12:23 PM
 
Location: Buckeye, AZ
38,936 posts, read 23,912,657 times
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Quote:
Originally Posted by MaseMan View Post
Exactly. I think a lot of parents and counselors are still advising their children to go take out a student loan to pay for college, while downplaying the financial risks involved.
The parents don't know any better because they just see the wage jump with college degrees over the lifetime rather immediate or the specifics of which majors are good majors in need and/or wages. FYI, hardly anyone does that at all, they just support the decision.
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Old 09-18-2014, 01:00 PM
 
Location: San Jose
574 posts, read 697,168 times
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Quote:
Originally Posted by ncole1 View Post
Or a result of the "follow your dreams and the money will come" mythology which gets some people to think they don't have to consider costs. When they find out that costs DO matter, it's too late.
As a millennial, I still can't believe that "do what you love" is uttered so much. It's horrible advice, and has ruined many people my age pursuing hopeless careers. Do what makes money. If you also enjoy doing it, that's a great side effect, but not strictly necessary, as long as you don't hate your job.

What people don't seem to realize is that work really only takes 1/3 of your time, and sleep takes 1/3 of your time. You still have another 1/3 of your time to "do what you love"! If you're making enough money to support yourself, you can do whatever you truly value in that free time. I'm also enamored with the idea of financial independence as of late, so I can do what I love with 2/3 of my time, thanks to living off investment income. Now to eliminate the need for sleep...
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Old 09-18-2014, 01:03 PM
 
48,502 posts, read 96,886,289 times
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Nothing that didn't happen to boomers in the 70's recession plus then there was double digit inflation and unemployment. It resulted in boomers creating the small business boom still going on. Then again many boomers also faced two years of service duty often in combat has did their parents during their younger years.
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Old 09-18-2014, 01:18 PM
 
5,342 posts, read 6,170,171 times
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Quote:
Originally Posted by mkpunk View Post
The parents don't know any better because they just see the wage jump with college degrees over the lifetime rather immediate or the specifics of which majors are good majors in need and/or wages. FYI, hardly anyone does that at all, they just support the decision.
So are we supposed to perpetuate the ignorance is bliss model? Why can't parents actually educate themselves? I get the argument when it comes to a 17 year old that doesn't fully understand how much money 100k is, but the parents should. We spend way to much time using ignorance as a valid excuse, for a teenager I can atleast understand it for a 40 year old I have a much more difficult time, especially parents that raised a kid capable of getting into a decent private school.

My wife's Aunt and Uncle are allowing their kids to go wherever they want and surprisingly they all chose expensive liberal arts schools in the northeast. Funny thing is her uncle is 45 and still has his student loans. At a certain point you have to place the blame on the people perpetuating the issue. Why would he want to put a burden like that on his kids when he is dealing when he hasn't even been able to pay back his own?
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Old 09-18-2014, 03:11 PM
 
2,485 posts, read 2,219,939 times
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Quote:
Originally Posted by mizzourah2006 View Post
So are we supposed to perpetuate the ignorance is bliss model? Why can't parents actually educate themselves? I get the argument when it comes to a 17 year old that doesn't fully understand how much money 100k is, but the parents should. We spend way to much time using ignorance as a valid excuse, for a teenager I can atleast understand it for a 40 year old I have a much more difficult time, especially parents that raised a kid capable of getting into a decent private school.

My wife's Aunt and Uncle are allowing their kids to go wherever they want and surprisingly they all chose expensive liberal arts schools in the northeast. Funny thing is her uncle is 45 and still has his student loans. At a certain point you have to place the blame on the people perpetuating the issue. Why would he want to put a burden like that on his kids when he is dealing when he hasn't even been able to pay back his own?
There are many factors. In general people are accustomed to prosperity and opportunity. They still believe that they can make it. They tell themselves that things can't be that bad.

Second most people believe they have something to fall back on. Their self created problems will be seen as someone else fault. They will have social welfare to fall back on.

Not having to worry about money isn't just a sign of ignorance. It's a sign of privilege. Economically privileged people can pursue things that are emotional and cultural as they have to money for it most of us don't. People do so at the cost of tax payers money. So it feels as if they have the luxury to do these things.

Our luxuries are often taken for granted. Money should be there. Everything should be there. It all started after WWII when we were lucky to be on top of the world. That's where most of our complacency and entitlement came from.

Our education system shares equal blame. It assumes that there would be jobs. It spends more and more money on things that can't be fixed with money. It indoctrinate students with the illusion of a "better world" totally different from the one students encounter in real life. Most public school teachers don't have to worry about job security. They are sometimes far from the industry. The ideological doctrine is often hostile to capitalism.

People. You have been lied to. The real world has always been what it has been. It's our rhetorical emotional and cultural views that prevent us from seeing truth. Seriously when a student gets a liberal arts degree and is shocked by the lack of opportunities and the debt, that shows how much this education system has failed itself and the students it is supposed to serve.

Do what you love is from an accomplished person at Ted talks, or a trust fund activist at the aspen ideas festival, or the innocent parents who thought paying teachers more creates more jobs. The broader context of this is the ethical argument of education. It says students can be taught to become good citizens (read democrats). If students read more liberal arts, it improves their moral character. I do not subscribe to this ethical argument about education. Education makes you smarter. What you do with that knowledge is up to you. Education doesn't make morally better citizens. In the last three decades our education system has become more focused on social issues and political correctness. It creates a fashion and atmosphere. Lots of people then get bitter when they see reality. By contrast the system in china and India actively prepared students skills for the global economy. Chinese students speak English to the extent that they can compete for jobs in English speaking countries. But not vice versa. Our students can't do that. This is because the chinese education system doesn't waste resources and has no illusion. Pragmatic and realistic education increased their competitiveness. Stable two parents families also provided a strong foundation for nurturing students.

I hope people wake up and see this. We are like a fallen almighty still thinking that we are some princess. Our competitors are making steady and realistic progress toward out competing us. And you know what. By doing that they will create prosperity that affords them doing what they love in the future. They can enjoy life with more financial security. When the chinese middle class retires they will spend most of their time doing what they love.
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