To College or Not To College [HELP]

[DeletedUser8]

Guys, I'm at a serious crossroad right now. I'm at a community college right now and the my plan has been to try to get a high GPA and transfer to a great university... but something just tells me my time can be utilized better elsewhere. I am a naturally driven entrepreneur at heart and I love learning about the finance and technology. I've read James Altucher's "50 Alternatives to College" as well as his podcast regarding the subject and call me crazy but I've actually considered leaving to start making moves on my own.

My plan is to potentially "hack" my education by learning more on finance, entrepreneurship, and computer programming. Something about learning on my own is more appealing to me, it becomes fun rather than a task and the feeling of doing something different than the rest of the "crowd" is gratifying to me because I feel I can do it. I still have my doubts though. My parents would be totally against this, and I'm sure it's easy for you to say ..."Well, you're 18 you can make your own decisions" it's just hard for me to make that decision without your guys' guidance and to push me past the tipping point.

As of now, I've been managing my own Finance/Entrepreneurship blog and I was contacted by SeekingAlpha via email yesterday with their request for them to start using my content as articles on their site. I'm attending an investment conference in New Orleans in October, and I've got a mentor currently that helps me in the world of investing. My grandma and mentor, who happens to be her newly wedded husband with a speculative networth somewhere in the millions, have told me they're willing to open me a brokerage account with InteractiveBrokers which is an account minimum of $3,000. I wake up, grab my coffee, and watch the market move. I recently spent $550 on for Pennystocking Silver by Tim Sykes which allows me to study live trades and be notified of stock movements within micro-small cap stocks through buying and short selling. There's money to be made here! It just seems that there's opportunity outside of the classroom.

This is stressing me out. I can be that kid to get good grades, but I almost don't want to... I want to learn on my own and make money. Being that I'm 18, by the time kids my age are graduating I could potentially have my own business and have assets on my own, not to mention skills that are required for jobs that don't include studying pointless GE material.

Maybe I have it figured out, Maybe I don't. I really need your guys' help. Withdrawal date for a Full Refund on classes is on September 7th. What are your thoughts?

 

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[LibertyForMe]

Who is paying for your school? Family? Loans?

 

[DeletedUser8]

Who is paying for your school? Family? Loans?

Family.

 

[youngtrep]

This comes up a lot here and you will hear widely varying opinions on the subject. Are you paying for college? If you aren't or the debt is really minimal I suggest getting a degree. This forum is excellent, but it is easy to get swept up in the notion that everyone on here is making a fortune after starting a business or that if you just apply yourself enough then you are guaranteed success. The reality is that most startups fail and in today's world it is really helpful to have a college degree to fall back on. If your entrepreneurial endeavors don't take off right away and you find yourself needing a real job for a while to sustain yourself and raise capital, I think you'll be glad you have the degree to put on your resume. If you are paying for college and the debt load will be substantial, the answer becomes a bit less clear.

 

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[LibertyForMe]

Family.

I agree with youngtrep, though for slightly different reasons.

Here is my take on it. If you are smart, which you seem to be, school won't take up 100% of your time. I got mostly A's, and I studied MAYBE 3 hours a week, MAX. I didn't know about business then, so I generally wasted my time playing video games and chilling with friends. But you have an advantage. You know about business, and how you want to do your own thing.

Look at college as a relatively easy way to live for 3.5-4 years without having to worry about food, insurance, housing, or pretty much anything. If you don't go to school you need to make money just to survive, which takes time away from your other stuff and also stresses you out.

I say stay in school, ride the system, and slam on your business for 4 years. If it takes off and you are making 100k profit per year before you graduate, then feel free to drop out!

 

[youngtrep]

Family.

In that case I definitely say stay in school. It seems awesome now to get up, grab a coffee and watch the markets move because you aren't really responsible for earning a sustainable income. Frankly the lazy way out is to drop out of school, when in reality with your family paying for your education you will have plenty of time to get great grades and work on whatever endeavor you want to pursue. Staying in school actually gives you more runway to become successful because you won't be pressured by your parents or society to start generating a livable wage immediately.

 

[Nate-NewVenture]

If, and ONLY if, your "soul" is telling you to leave school for bigger/better things, do it! If you're being lazy and trying to shortcut your life, that's not a good reason. Understand yourself and your motivations. Really think about it man. This isn't a decision to be made after a cup of Cappuccino.

That being said, you better have a good reason to give your parents on why you're leaving, forgoing their money. You better have a plan and proof you're willing to back up that plan.

Just my 2 cents,
Nate-NewVenture

 

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[marklov]

Why the rush man?

Enjoy those college years , create some good memories and enjoy the journey to getting there.

on the other hand

"Burning the boats" can either be the greatest indicator of entrepreneurial seriousness, or the strongest indicator of looming entrepreneurial failure, depending on what precipitated it. For the serious entrepreneur, burning the boats is a harrowing but calculated decision taken once ones "armies" are in place and readied for battle, to force victory with the seriousness of Damoclean circumstances. Read @JackEdwards "1000th Post" if you want to get a feeling for what that "scared sh**less determination" looks like.

For the wantrepreneur, it's another action fake, a chance to do what they do best-give up on something that is mildly unsatisfactory, or difficult, or does not please them. For the wantrepreneur, it's all about them-"I didn't like (the job, the school, the degree, the trade), It wasn't for me, It didn't fit me, I don't want to spend my life doing that." Great. Most people are unhappy with what they're doing, deep down, or at least wish for more freedom. But where, in those statements, was the declaration of a way to add value to others that is the key to moving from bondage to freedom?

Being a dropout does not a success make. For every one of this guy:

There are a hundred of this guy:

The one dropped out because he could meet the needs of more people faster that way. The other dropped out because he wasn't at his "dream" job or in his "dream" field, only to find that five years later, it didn't help him get any closer to his dreams. Your dream has to be to make someone happy. Otherwise, if you're in it for you, you're not going to go fastlane, you're going to build someone else's. Someone else got up this morning thinking "How can I get Sweetland what he wants today?" And because that guy set out to take care of you, he will. You'll buy this guy's headphones, stream his movies, eat his food, or drive his cars, and he'll be in the fastlane while you're on the sidewalk, cleaning his drive-through sign to pay for it all.

Don't let that be you. Start with a plan that puts other people's needs first. Use your promoter money to buy only things other people need, even if it's just reselling on ebay for now.

Also, this is the forum's most significant source of value:



We don't sugar coat things. You are, right now, simultaneously in either the best or worst position of your life to affect your net worth and have a shot at spending most of your life on a beach with your spouse rather than behind a desk going blind from the florescent lights. Which it is depends on your choices, so you might want to spend some time reading the Mindset, Motivation, Choices section of the website, or MJ's book again.

The perspective is different but it can be applied to your situation.

 

[Nate-NewVenture]

marklov, great perspective views....

Ryan, I'd read that closely.

 

[Solrac]

Here's what I did, I was in your exact same shoes last year.
I was trying to decide what to do. I wanted to drop out, because I thought I was unstoppable and could pull a JackEdwards... Not that it's not possible but highly unlikely...Anyways like @LibertyForMe just said it depends on who's paying(at least for me it did)..
In my case my family was paying for everything, completely, I don't have to do a thing.
After talking to someone on the forum about this, they really changed my perspective on it. Think about it, since your family is paying for you, you don't do anything. You just get your classes done, and work on your biz. You don't pay for a place to live, internet, etc..

What I do : I wake up at 5AM every morning now, I work strictly on school until 12. I have no excuse to not be an A+ student. And then from 12-9 I work on my biz related stuff. It works perfect for me, I keep my family happy, and I get a free place to stay, and I meet awesome people and make awesome memories.

If my biz starts making 10k profit a month consistently...Heck I could just reinvest all of that into growth/inventory...Or I could drop out and my parents would totally be ok with it too!..

That's my experience, I'm still in right now, my second year at UCF... And I love it!
Hope this can help in someway.

 

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[jazb]

Easy...Do both. If your biz overtakes your uni then drop out. theres no rush man, go enjoy your life, meet girls, party etc.

Tons of 18 year olds come on here and ask the same thing. i can't help but think they are a bit naive. Its like they think they will go off and become the next steve jobs before 25. personally i think they should go to college and grow up a little..but thats just me. maybe you are different. who knows

 

[Writer]

You got free college, use the opportunity you have.
And try to retain as much information as you can. Make it useful

 

[AubreyJ]

Are you a freshman? If so, I would definitely stay in for a year or two. I dropped out of school after my freshman year- I knew from the moment that I started college that I wouldn't get a degree, but I felt like I wasn't ready to be on my own yet- and that year I spent in college really helped me in the long run- I grew up, I matured, and by the time I had finished up the school year I had a clear vision of what I wanted to accomplish as an entrepreneur.

I am a huge believer that university is not for everyone- that not everyone needs a degree or a formal education to gain knowledge and become successful, but I do think that it is important for someone to end their school career at the right time. Take the next year to develop a clear plan for what you want to accomplish moving forward and after you have done that, then you should feel comfortable dropping out- but don't just drop out because you want to be an entrepreneur, and don't drop out without a plan of action.

 

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[C.S. Abbink]

Same opinion as all of the above. Just go to college, it will do no harm. Always have your own look on the things they teach you though, they tend to put you in boxes.

I finished a pretty low degree, and it forces me to stay in the same job the rest of my life, unless I make my own path or get back to college while working a full time job. Personally I still wouldn't have done a higher type of education, as it does not fit my own needs. But I do advice it to everyone.

 

[The-J]

God dammit, not ANOTHER ONE of these threads.

You're probably new here, which is great. Welcome.

One thing you must know is that we get a LOT of 'crossroads' threads here. People like to come here and ask 'should I go to college or not/drop out?' and 'should i quit my job or get a new one that offers x but doesn't offer y', questions like these.

First thing you must know is to not trust Internet strangers with a very personal decision. This isn't a business problem, this is a personal problem. This isn't about the numbers, this is about Mr. Ryan O'Malley (assuming you use your real name) and his future.

Sit back and think about a couple of things:

What do you want out of college?
What do you want to achieve in the next 5 years?
What do goal do you want to be working toward right now?

You should find your answer.

There should be a megathread for 'college' and 'quit my job' posts.

Also, if you decide to go to college, make sure to get as much out of it as possible. I chose the college route: not for a 40-year Slowlane path, but for an introduction to networks and people.

 

[juno323]

If money is not that pressing an issue, I would do it.

Why?

I spent my time at College networking like hell. I skipped most of my lectures but devised systems to help my study fast and score well. I saw the competition and knew what I was up against (big motivational booster). By the end of my first two years, I had gained a lot in terms of experience and people that I could tap on for money and expertise.

Granted I don't know your own personal financial situation, but if money isn't an issue... college is just one of those things I have no regret not doing.

 

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[Jinxus]

Not to be a dick, but I see this pre-typed here everyday

Is college necessary? No. If you don't want be in a highly skilled, degree requiring profession (doctor, lawyer, engineer, etc), there's not really a need. If you don't care for traditional schooling, the only reason you're asking this question is because of social pressure. If most people are doing something, odds are it won't get you better results than most people see.

Pick up a trade to fund **BASIC** lifestyle and get extra cash for business. It's what I did. School completed in a few months instead of years, $40k in savings, no debt, making more than most people out of college at a younger age. Tons of room for advancement. Life is awesome. Don't let the pressure get to you.

If interested in trades, look at anything union related. Unions overpayed FOR THE WIN!

 

[masaldana2]

Lol

 

[ColtonJD91]

Family.

Dude... if family is paying then go. However, school is very much what you make of it. The main governing body of critical thinking was designed by two people: Richard Paul and Linda Elder. They quite literally wrote the book on the subject. I suggest you snag a copy of their book "
Critical Thinking: Tools for Taking Charge of Your Professional and Personal Life" and read the sections of becoming a life long learner. Chapter 7-10 I believe. They do an excellent job of bringing to light HOW to learn in college, instead of sitting around doing the bare minimum until you can walk across the proverbial stage and grab a $40,000 piece of paper.

If you truly take to heart there teaching and attempt to internalize what it is you're being taught, a college education will do far more for you than open doors to some slow-lane job.

Hope that helps.

P.S. I learned all of this critical thinking stuff while in college. Food for thought.

 

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[Silverhawk851]

Read The Millionaire Fastlane again....Do you want to be rich quicker? Then work on a fastlane business.
Are you okay with going to college knowing it won't be worth much later, but your parents family will be ok with it/you'll get to party?

In the end, its your choice. Just look at where each path leads you 5 years, 10 years, 15 years from now. Whichever one you like more, pick that path.

Remember, don't worry about all the bullshit you might have to deal with in the short term, F*ck that, Moms crying, sneering relatives, stupid opinions from friends and this and that. it's an illusion. It's only temporary.
If you get caught up in the emotions of the moment, think of all the times shit hit the fan, and you thought it was the biggest deal. How big of a deal is it now? probably makes 0 difference in your life right now

All the best

 

[Phones]

http://www.quora.com/What-are-good-ways-to-prepare-my-kids-to-become-billionaires

 

[Stanley Mala]

I made 10k+ before I even started highschool. If your biz doesn't work now don't expect it to take off if you drop out.

 

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[Anthony Mathapo]

i went to college and did not know how our families debt comes back to bite our asses some time sooner or later in life. if i had cut my education to two years and not 3. i would have had the perfect time to focus on getting other skills and expanding my website or any fastlane initiative.

college costs a lot of money for little return in the long run. it takes up time when that time could have been used to obtain small significant skills which would cost you less and expand your mind while fueling your ambitions.

be careful , society wants you to work for it- not for yourself...

be smart and think about the roadmap and not small goals...

 

[Chaseb731]

Please lock this @MJ DeMarco .... There are so many threads that can be referenced regarding this topic.