New Money Lessons - Money Advice You Haven't Heard Before
What used to be bedrock advice for your parents' generation might not be the best strategy in the 21st century. Here's how to keep pace with the brave new post–piggy bank world.
By Amy Shearn
Original Content | February 06, 2013 
Photo: Thinkstock
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Personally, I would never tell anyone to not go to college if they have the option, from a self-betterment/learn about the world/read lots of books angle. But when it comes to cold hard financial facts, an expensive four-year college education might not actually make the most economic sense, particularly if it's going to mean embarking on grown-up life with an oppressive load of debt. As Robert Kiyosaki, the author of the best-selling Rich Dad, Poor Dad series, told me, in today's world college isn't always a financially sound investment. Kiyosaki said, "It's tough to know—on the front end, when a student is taking on school loan debt—what the ROI [return on investment] will be. Will the degree he or she earns at a cost of $100,000 in school load debt land them a $200,000 a year job? Or a $50,000 job? For many students, school loan debt is an albatross around their necks as they begin their adult lives." (Then again, if they go to a liberal arts school, they'll get the albatross reference.) So the idea is, from a financial standpoint, young people may want to think carefully about their future career prospects before taking out loan for a super-pricey education. |
