| REAL DATA | | | | blew it!" |
| Most often I will blabber about personal financial | | | | A BETTER LIFE |
| planning in this column; but today, in light of massive | | | | Economic benefits are only the basic rewards of a |
| economic challenges that loom, it seems important to | | | | good education. The quality of life is magnified |
| touch on a really good question: Why go to college? | | | | tremendously. With strong income, one's health |
| Parents, and grandparents alike, want the best for | | | | condition is generally better and so are one's living |
| their kids, but we know it's hard to make sure it | | | | standards. It has been proven again and again that |
| happens. This article may be a good "scissor clip" if | | | | those families with strong incomes have the best |
| you are trying to persuade your loving youth just why | | | | medical treatments and insurance plans. Even better, |
| college is essential. All statistics quoted herein are | | | | they have the best transportation, travel, housing, |
| from the Unites States Census Bureau's website: So, | | | | nutrition and clothing. |
| my friend, the data is real. | | | | FILLING THE GAP |
| BURGER FLIPPERS | | | | Is it any wonder why 20% to 30% of our science |
| In the worst-case scenario, the kid drops out of high | | | | students in our universities are from overseas? They |
| school. This will represent about 1.2 million high-school | | | | know that American students are not seeking the top |
| youths annually or about 11% of the US high school | | | | educational degrees that are in demand. Foreign |
| population. Alarmingly so, in the inner cities, this | | | | students are swarming through our university |
| number climbs to nearly 50%. Now you know where | | | | system. Once they graduate, few go home. They |
| we get all the burger-flippers and dishwashers earning | | | | generally find juicy, high-paying positions here in the US |
| minimum wage. | | | | after securing permanent work Visas. Who can |
| BARE MINUMUM | | | | blame them? They are taking advantage of a fruitful |
| Every bit of education you get after high school | | | | education and work placement system because the |
| increases the chances you'll earn good pay. Virtually | | | | American youth are falling short of the task. |
| every college graduate will earn more wages during | | | | THANKS MARTY |
| their working years than those who stop their | | | | Fundamentally thinking, there seems no better |
| education at high school. The average high school | | | | investment into one's life than a quality education. |
| drop out earns $19,915 per year. That figure is for all | | | | Just like one of my dear clients, Marty, who has |
| dropouts, 18 years old through 80 years old. It | | | | repeatedly expressed: "They can take away |
| amounts to $9.57 per hour. Who can live on that? I | | | | everything you own, but they cannot take away your |
| should ask: "who can live indoors on that paycheck?" | | | | education!" Marty is right! Dead right! No matter |
| FIGURES DON'T LIE | | | | what happens in life, once you are educated, you |
| Once a student completes high school that number | | | | cannot lose it to the markets, or taxes, or government |
| soars to $29,448. Sweeter, but it's far from | | | | - or theft. It is yours to keep forever and ever and |
| comfortable. In no way can anyone afford buying a | | | | yours to put to use, forever and ever. Thank you, |
| home on just that pay, especially in this credit market. | | | | Marty! |
| If he or she gets a mere 2-year college degree, bingo, | | | | SOLUTIONS |
| add another chunk to make it $37,990 per year. Nice, | | | | So, if there is any one thing you can do for your child |
| but not nice enough. A bachelor's degree will get you | | | | or grandchild is to encourage him or her to seek a |
| $54,689, where a master's degree will knock down a | | | | higher education, embrace it and admire its value. If |
| shimmering $67,898 on average. Now we're talking! | | | | you have the assets and you are sure you won't need |
| With that kind of dough, we can plan for retirement! | | | | it before your demise, find a way to send that child to |
| Even better, with a doctoral degree, you register a | | | | college. There exist numerous college financial plans |
| cool $92,863. Hey, if you stretch the brain some | | | | that will help fund a college education. Especially |
| more and earn a professional degree, like a CPA, CFP, | | | | popular are the 529 programs or Pre-Paid college |
| or maybe a DO, DDM, or similar, the pay rockets to | | | | tuition plans. Don't leave it to chance, because if you |
| $119,009. This kind of frothy future is available to our | | | | do, that child may take the "path of least resistance". |
| youth if they are taught how to visualize its potential. | | | | Sending a child to college may be the most wonderful, |
| This concept reminds me of a famous quote from the | | | | unselfish gesture you could ever make, economically |
| spoof TV show, Batman!: "Holy Kleenex, Batman! | | | | speaking. |
| That opportunity was right under our nose, but we | | | | |