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Replacing My Kid’s College Fund with a “Start Something” Fund

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Re: Replacing My Kid’s College Fund with a “Start Something” Fund

#31

Post by keeptrying »

goldfeld wrote: post #30

Sounds like a horrible idea full of assumptions and pressure, as opposed to offering an exploratory period of life that is college (socially and intellectually), a nice option for those who can afford it. Not everyone has to be coaxed into entrepreneurship, it's an evil of our consumerist age. Your kid would probably rather participate in society at large than in your suicidal runway idea of a romanticized youth of m…

I've seen parents essentially drive kids into liberal arts by pressuring kids to try everything else.

Pointing a kid in the right direction is high art.

Re: Replacing My Kid’s College Fund with a “Start Something” Fund

#33

Post by Retra »

weirdstuff wrote: post #25
nopzor wrote: post #18

Earlier quoted context omitted.

I thought the credentials showed that you had completed the (purportedly valuable) education?

This is less and less the case, as weird as that sounds. I'm finishing my degree not because I'm learning anything, but too many managers (and academics) have point-blank told me they just want to see that I've been "initiated".

If you're not learning anything, that's your own decision. Paying for education is paying for access. If you're paying for access to people that you choose not to interact with, then that's it's own brand of stupid.

Re: Replacing My Kid’s College Fund with a “Start Something” Fund

#35

Post by tensor »

keeptrying wrote: post #31
goldfeld wrote: post #30

Sounds like a horrible idea full of assumptions and pressure, as opposed to offering an exploratory period of life that is college (socially and intellectually), a nice option for those who can afford it. Not everyone has to be coaxed into entrepreneurship, it's an evil of our consumerist age. Your kid would probably rather participate in society at large than in your suicidal runway idea of a romanticized youth of m…

I've seen parents essentially drive kids into liberal arts by pressuring kids to try everything else. Pointing a kid in the right direction is high art.

You say this as though liberal arts is bad, perhaps that's what some people want to do. Don't see anything wrong with it.

Re: Replacing My Kid’s College Fund with a “Start Something” Fund

#36

Post by notadoc »

goldfeld wrote: post #30

Sounds like a horrible idea full of assumptions and pressure, as opposed to offering an exploratory period of life that is college (socially and intellectually), a nice option for those who can afford it. Not everyone has to be coaxed into entrepreneurship, it's an evil of our consumerist age. Your kid would probably rather participate in society at large than in your suicidal runway idea of a romanticized youth of m…

> offering an exploratory period of life that is college (socially and intellectually)

That is exactly what college is, and is supposed to be.

Many people make the mistake of thinking that college is a jobs training program, or a career readiness program - it's not. It was never intended to be. College is supposed to give someone a broader perspective, a more complex worldview, exposure to a vast array of topics and ideas, and to develop habits that are generally beneficial to any life or intellectual pursuit. That's it.

Entrepreneurship is great, and it will teach you many different things and some hard lessons as well, but it's not going to even remotely offer the same sort of experience or exposure. It's not college, you're not reading classical literature as part of a startup grind.

Also, society needs to accept that for some people, neither college, nor "starting something", is well suited or an appropriate expectation. Some people just aren't cut out for either, and there is nothing wrong with that. Some people would be better off learning a trade, or going through an apprenticeship, or being self taught, or any number of other means of learning and developing skills.

Re: Replacing My Kid’s College Fund with a “Start Something” Fund

#37

Post by learc83 »

bitJericho wrote: post #29

There's a third option. Self educate. Take 200,000. Buy all the tools and equipment you need to do what you love. Do what you love for 5 to 10 years and you'll have more than enough experience to be successful in your industry.

Almost no 18 year olds are self disciplined enough to do that without structure. That's the point of college.

If you spend 5 years only playing your favorite parts of your favorite songs on a guitar, you're not going to be a good musician.

Just like if you spend five years doing the fun parts of programming or engineering or history, you won't be a good programmer, engineer, or historian.

College (or an apprenticeship, or trade school) isn't required to learn the hard/boring parts, but very few people are capable of doing so on their own at that age.

Re: Replacing My Kid’s College Fund with a “Start Something” Fund

#38

Post by Broken_Hippo »

fsloth wrote: post #9
Broken_Hippo wrote: post #2

I always knew kids that wanted to start their own business - at least in high school and college. I grew up poor-to-middle class, nothing special, living in Indiana. I'm about 39 now. Some folks just don't consider it so young, just like changing professions in one's late 20's. It usually goes along with the dream of not having to answer to a boss and/or working hours one wants to work, but not always. But I do think…

"But I do think more folks would try if they could take the college money and invest it in things like starting a business, no matter what the business is, and wish more folks had this option." I don't think these options are comparable. The other is a structured path to more or less predictably increase ones human capital while the other is a high risk, unstructured mess. I suppose the key is this - can the person t…

They are definitely different options - and I think that is a good thing. I figure that some folks are good without the structured college environment, and some folks are truly self-starters or simply interested in things that college will help them little with (wanting to own a restaurant, for example). I think a few would be good with either option.

I'm also a fan of affordable trade schools and different types of apprenticeships or work/school combinations. They sometimes like comparing apples to oranges, but I also think they give more of the population viable options for their life.

But you are correct, it does depend on the person and what, exactly, they want to do. I'd not just give the money without strings attached: After all, college funds depend on the person getting into college. Startup funds would depend on them learning the skills they need, have a seemingly viable business plan, and possibly a backup plan in case it goes awry.

Re: Replacing My Kid’s College Fund with a “Start Something” Fund

#39

Post by wyager »

eeZah7Ux wrote: post #19
jaclaz wrote: post #5

I don't know. Basically this means more or less that on the day your son (or daughter) becomes 18 you put on the table 2,000x100 US$ bills in a few neat stacks and ask him/her whether he/she likes it better to: 1) Study (hard) for the next 5 years (possibly in a remote city), living with one or more co-students in a tiny apartment and receive - say - some 500-600 bucks each month for petty expenses OR: 2) get - here…

> Study (hard) for the next 5 years I don't think colleges in US can be as hard as universities in some european counties. Especially where universities are free. I would be curious to hear if there are some exceptions.

Look up international college rankings. The US is vastly overrepresented in terms of quality of higher education.

Re: Replacing My Kid’s College Fund with a “Start Something” Fund

#40

Post by jaclaz »

soneca wrote: post #17
AznHisoka wrote: post #15

Why not do both? You have so much time in college you can strt a side business in those 4 years. Yes college is a lot of assignments but looking back, you realize you could have still graduated doing 50% less work.

Well, in the article he does say that college is still an option after the company if it fails

Yep, but it is not like there is infinite supply of (assumed earlier by me) US$ 200,000 packets.

There is just one, and if your kid burned it, there is no more for the college.

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