 Would you like to celebrate with me tonight? My mortgage has come through. Yipee? |
| I am pathetic I know but after years of worry about debt, I can live again, so I am over the moon - just show it can be ... |
|
 Who can lend or donate me $6000? |
I need the cash for completing my education... can any1 get me in touch with a big donator.. or some1 who can lend me that amount. thx
i have all documents to prove my stand.... |
|
 Strippers n boob jobs? |
| okay so this is gonna sound like a really wierd question, but ive always wondered how strippers can afford to get boob jobs (well like a lot of them) cause dont they not make that much money??... |
|
 If you won a million dollars? |
| what would you do with it and ... |
|
 What things do you do to save money? |
| One of mine is waiting to buy expensive things when they are on offer, what things do you do?... |
|
 What are some good ways for a 13 year old to make a lot of money without babysitting? |
| I have tried baby sitting and i hate it... and also i will not work for my parents cause any money they say they will give me for doing something never gets to me.... |
|
 Someone Please Help Me!!!!? |
| I dont want anyone to judge me, I just need some help. If you have anything rude to say, plz dont say anything at all. Im 16, Im married, my husband wuz wrongfully accused, i know this personally, ... |
|
 Would you lend a friend $800? |
| money being no issue, just a little concern for where they are 'at' presently...... |
|
 I saw someone drop 100 bucks should i give it back? |
| ok ive been helping ppl with their questions why doesnt anyone help me?... |
|
 Why would anyone ask a financial question here...? |
Why would anyone ask a financial question here when there are better forums for getting real answers (such as www.MechanicsofMoney.com where actual financial practitioners provide free answers)?
<... |
|
 What do you think of really rich people? |
| that never spend no money and, when they do need to spend money buy the cheapest of everything?... |
|
 Who can a 14 year old girl earn money???? |
really i need money our family is broke and i need school clothes!! please help!
Additional Details
lol how!!! my bad!... |
|
|  |
buckbucknumber2000 | Is a college education worth it? |
twin boys (both 18 years old) inherit $100,000 each from a deceased uncle. the first twin uses the money to pay for a college degree and soon lands a job paying $70,000/yr the other twin just gets a job paying $20,000 per year. but invests the $100.000 at 10% annually in the stock market. For argument's sake let's assume both brothers spend every cent they earn for the rest of their lives (they both "keep up with the Jone's" and live paycheck to paycheck and do no other investing).In his lifetime which brother has earned more money by the time they are 65 years old (again for the sake of argument assume neither brother ever gets a raise or just take the salaries as being averages) ? and how much?
u can calculate interest at
http://www.moneychimp.com/calculator/compound_interest_calculator.htm
(note: i do have a college degree myself, but I'm just wondering if it was worth it)
Additional Details
please folks , lay off the 'your a better person if u have a college degree' bullshit I'm looking for a mathematical answer here in terms of money earned over a lifetime. |
 |
 
cyrenaka
|
This is a loaded question.
Obviously anybody who has a $100K head start for 4 years is going to do well. By the time the non-degreed twin is 36, his interest (over $50K by this stage) and salary is greater than 70K a year.
BUT, how many people have a University education, and stay stuck in the same job their entire lives - not many, after all, some of them will be promoted to the next step up to make room for the new graduate (and each person moves a step up because somebody has retired)?
The real question is who has the better life?
YOu say that both brothers spend every cent they earn.............well, if I have 50K more to spend then somebody else.....I probably have a bigger house (after all, the mortgage is spent money) and the value of such a house needs to be taken into account, I probably have seen more of the world.
Also, you can look at any online dating site, the more money you make, the more money your wife probably makes (do a search of some dating sites, and filter by females annual income, the more money a woman makes, the more ehe expects her partner to make)..........So, the $70K a year twin's partner makes more than the $20K a year twin's wife.
Also, the intangibles associated with the process of getting the degree itself (for most people anyway) is far more valuable than money.
For the record, $100,000 invested for 47 years at a 10% annual rate of return is $8, 819,748.53 + 47 yrs at $20K is a total of $9,759,748.53
The degreed twin makes $70K for 43 years or $3,010,000...............or almost $7MM less |
|
kimilou2001
|
Well, you're probably looking for the answer the the brother who invested the money in the stock market is the one who ends up with the most money. But you're assuming there is no stock market crash, which, as history proves, is not an impossibility. |
|
uncle billy
|
YES! my daughters both have them & will go onto their masters, I can't imagine a young person making any money in this country without it, there is always the military I guess. |
|
Mopar Muscle Gal
 |
If you have a college degree.. you already know the answer
Education.. is everything |
|
skateme
|
well, the safer route is to get a degree because if you go in the stock market game forever/all the time, there will be a lot of times the stock market crashes.
summary: get a college degree..lol |
|
onurk3427
 |
think the status in other people.. college is a must at least in turkey |
|
eejonesaux
 |
Hi,,,, hmmm,,,, the answer is,,, i will take my college degree and raise you X 3 = more than all the money you just started with a year in my salary,, so,, how much is that worth....... ?????
good luck |
|
K M
 |
dude, do your own math homework.
Oh, and that whole college makes you a better person and you'll make so much more money crap.
REALLY REALLY REALLY depends on what you study people. There are alot of fools out there getting useless degrees so that they can go and make minimum wage after graduation. Have fun paying off the 20,000 dollar college loan on eight bucks an hour. Don't get a degree just to have one unless you got a buttload of money laying around. |
|
sjs
 |
Absolutely the twin that got the collage degree fares better. It's $70,000. vs. $30,000. I thank God every day that my husband and I are college educated, It benefits you throughout your life, Also meeting so many people of various cultures is a wonderful, mind-expanding experience. |
|
frugernity
|
Your comparison is not apple-to-apples because the college guy gets to spend 3.5 times as much every year as his brother. To make it apples-to-apples you need to assume they each live on $20,000 and the college guy invests his $50,000 every year. Also you need to assume the college guy waits 4 years to begin earning his income.
I set up an Excel worksheet to compare the two guys' investments. The guy who skipped college has over 8.8 million at age 65 but the college guy has over 32.6 million.
A more realistic comparison would be that while one brother is going to college the other is driving a big 4-wheel-drive pickup, watching his big-screen TV, and spending lots of money on his girlfriend, on booze, on entertainment. By the time the college kid has been working 4 or 5 years the other brother has burned through the 100 grand and has nothing left to show for it and of course his girlfriend has left him but he's now paying child support to her so he'll pretty much never have a dollar to his name. Meanwhile his college-educated brother is building a new house in the suburbs, has a wife and two kids and a bright future. The brother who chose to blow his inheritance then describes his brother as "lucky". |
|
Sheryl R
|
If a person wants to live a life filled w/material things, then a college education can buy those things. As for investing in the stock market--that's a BIG risk, especially after 9/11!! I guess if a young person was willing to discipline themselves enough to complete a degree program, it could be very advantageous. A person w/a college degree earns more (statistically) than those w/only a high school diploma or G.E.D. How many ppl have rich uncles??? |
|
smu_cb
 |
The one that does not go to school has his invested money turn into $8,819,748.53. That plus 47 years at $20,000 equals $9,759,748.53.
The one that does go to school has $3,290,000 after 47 years of work.
However, the one that went to school is far smarter, and if it weren't for your assumptions of spending all their money, would likely be able to invest more of his paycheck.
Also, whats to prevent the first one from spending some of his interest earned? I'd much rather live on $70,000/year than $20,000/year. |
|
?
 |
yes you should already know that, |
|
jgbaek™
|
OMG.....of couse college is worth it....20,000 is a lot but ppl can get much more up to 100,00 bucks a year something like that but even so college is a way to make new friends meet a girlfriend (maybe a wife)....and even though education is boring and expensive its all worth it.....to get money to support your self (and a family) |
|
Ranto
|
Let's suppose there is no growth and both brothers work untiol they drop dead.
The one with the college education makes $70,000 per year. The other one makes $20K per year from his job and another $10K from investments. That is $30K per year.
The one with the education is able to spend an extra $40K per year -- every year -- making him better off. |
|
Elchin I
|
Read what Gregory Mankiw wrote about Cobe Bryant and Education. (Principles of Economics, Chapter 1) |
|
Hoa N
|
I do not use calculator to answer your question. They both will be fine if they know how to handle properly. Let say twin boy1 with 70k/year is A, the second twin boy is B.
If the A boy do not save after college, living or spending all of his money, he is doomed.
Other case, If the B boy is untouch his money and save it as retirement money
so at the age of 18, he got 100k
By THE RULE of 72, 10% annually return, it takes closed to 7.2 years is his money double
Hypothetical situation.
when the B boy at age 25-26, his investment should be at 200k
when the B boy at age 32-33, his investment should be at 400k
when the B boy at age 39-40, his investment should be at 800k
when the B boy at age 46-47, his investment should be at 1.6 millions USD
when the B boy at the age 53-54, his investment should be at 3.2 millions USD
when the B boy at the age 60-61,his investment should be at 6.4 Millions USD
At that time, He can live off his interested for the rest of his life without running out of money
With 6.4 millions at 5% interest, that about 320k/year for the rest of his life.
Did my answer satisfy your question? |
|
dryheatdave
|
I'm planning to go to college when I retire in a few years (50yo).
College is worth it, if you're studying something you are interested in - in my case I want to study Geology just for the hell of it. I currently earn 6 figures in the software business & could never get that out of Geology - but I can get the knowledge :-) |
|
jon
|
I did not go to college, I am in the top 5% income level in the USA. I went to work right after high school. I started my business three years ago and now have people who went to college work for me. I realized that I was lazy and not smart enough to go to college. Society makes young people think that if they don't go to college then they are losers and will never make any money. It is sad that high school teachers push kids to go into debt, they drop out or go get a job and pay back loans for twenty years for a job they could of had if they didn't go to school. I am 30 years old and think unless you go for a skill you can not get through real world learning it is a waste of money. Just my opinion. |
|
Gotgrass
|
In your hypothetical question, it may work out to be that the boy who didn't go to college ended up better off financially, but that is not usually the case. Even if you don't make more money with your college education, you are better off because of several other factors that you have yet to foresee. 1) You've proven that you have the ability to set goals and see it through to the end. 2) You've learned time management skills and organizational skills that your uneducated friends won't have 3) You have a well-rounded view of liberal arts due to the variety of classes you were required to take. 4) You will be able to get a teaching credential in no time. 5) You have a feeling of self worth, accomplishment and pride that your uneducated friends covet. |
|
sweet_peace94
|
Yes it is totally worth it, |
|
no nickname
 |
A college education in your example is worth it...no question about it. There is always the risk factor when investing in stocks. I myself saw my portfolio drop in value by 50 %. There is too much assuming in your hypothetical example. The brother with the college degree (in my opinion) lived a better life and had more security for himself and his family. |
|
leikevy
 |
It may be apparent that going to college's primary goal is to get a job that would pay more or whatever. However, from a society's view, certain roles need to be fulfilled; if everyone were to get $20,000 job but the job is same for everyone, then society would fall apart.
From an individual perspective, you could say that they earn the same amount in their lifetime. But I feel that if the only thing you get out of college is your skills for your job, then you may have missed other important parts to your education. i do not know if you went to a liberal college or not but core classes aren't just classes you take to get them out of your way. You can take what you learn from them and apply them to your life. With a college education, you are actually learning how to do things that many people can't do and the knowledge you hold is a kind of power. As an extreme example, take the atomic bomb. The scientists are really good at what they do and there are very few who can think like they can. But if they were to consider the consequences of their discovery, maybe history would have gone another way.
Bottom line, I think college education is worth every penny. From the financial perspective, maybe it is the same but outside of finance, it makes a lot of difference. |
|
MeInUSA
|
A college graduate always has a better potential to earn a better lving than one without, BUT that does not mean a person without a college degree can't make it big ..look at Bill Gates!! |
|
MikeInRI
|
Depends on what kind of a career they want. |
|
BiBJ
|
Education is not everything. It's only necessary if you want to be an employee.
The biggest myth today. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
26 | 29 minutes(s) ago
| | | |
1 | 3 hour(s) ago
| | | |
26 | 4 hour(s) ago
| | | |
26 | 8 hour(s) ago
| | | |
23 | 9 hour(s) ago
| | | |
26 | 1 day(s) ago
| | | |
25 | 2 day(s) ago
| | | |
26 | 5 day(s) ago
| | | |
26 | 2 week(s) ago
| | | |
26 | 1 month(s) ago
| |
|
Homepage 
Financial
Forum 
Personal Finance 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
