Investing In Education And The Missing Category Of College Dropouts
Saw some startling figures of where you will end up if you go for a job with your education. If you work throughout your life as per stats, this is where you end up.
â€œThe Bogleheadsâ€™ Guide to Investing includes a chart that lists expected lifetime earnings per education level. The chart lists various education level and what people at those education levels can expect to earn throughout their lives (according to the U.S. Census Bureau.) The results:
- Some high school, no diploma - $1,000,000
- High school diploma or equivalent - $1,200,000
- Some college, no degree - $1,500,000
- Associate degree - $1,600,000
- Bachelorâ€™s degree - $2,100,000
- Masterâ€™s degree - $2,500,000
- Doctoral degree - $3,400,000
- Professional degree - $4,400,000
Looks all true and encouraging and little tempated to think about getting an advanced degree. Suddenly I realized, seriously, isn't some thing else misssing? Another category? College drop outs. The category that makes Billions of dollars. The category that retires atleast 10-15 years earlier than these scholars. hhum. Some how, they did not make it to these stats, but as each of us know history is full of such college drop outs. I bet each one of us know atleast one from our own school or class or community, who surpassed our flashy income and made it to 10s of millions if not billions of dollars, though he/she is no where near your education level.
Not quite mean that education is useless. But some thing is totally missing out of the equation.
Again, these figures are average, if that is any solace. But it is very disturbing to see those figures. From the stats, it suggests that better your education level, better you earn. 4 Million dollars in earnings after a life long-job ? Good deal for a life?
If this is a reality show, and you are asked to work through out your life for a 4 Million dollar prize money, (and in the spirit of the game, and hard reality, not every one is guaranteed to win $4M) Will you take the challenge ??
Well, you have already accepted the challenge and right in the game, if you rely on the job. And there are your stats. Go and beat them. Good Luck.