With the stock market crashed, home prices tanked and a sense of uncertainty, what sort of advice is of value to a college student thinking ahead with their future?



Not long ago, a college student who came from a large family and grew up poor wondered what college degree should they go for and what industry should they get into? He was worried about working until age 60 to save for his later years in life and didn't see any great future ahead no matter what he did.

His goals of course were to make money early in life and then enjoy his life with a good chunk of wealth. Well, who could blame him, isn't that what everyone wants? Sure, makes sense.

He does have a considerable and definite advantage having grown up in a family without adequate means. This makes him a fighter, as adversity builds character. Early retirement is so boring, at least that is what I have learned; my advice on that; don't do it.

For most, well they will likely not get rich early in life if you simply go to school for 8-years to get a really big degree, as they will have significant school debt to overcome, unless they end up working in a start-up company on the leading edge of technology or something like this.

Then there are the family issues, kids cost a lot of money and take a lot of time. He'd be better off to have a smaller family than the one he came from. If he meets a gal and get married straight away then this could prevent his life's mission to create wealth early and cause him to change his path. A father has an entirely new focus.

It sounds like he will have to pick something that he really likes to do, otherwise he will not be happy. Also he needs to do something that makes a good bit of money. So, he'll need to either be in a field that is a fast-mover and/or an industry with lots of money flow. Self-employment is probably a good idea in this case, but he will have to be in the right place at the right time.

Look everyone wants to be wealthy, work very little and live rich. Life doesn't work like that? Our capitalistic system rewards working hard and working smart. He will have to do both. Perhaps you might consider his predicament for your own career plans?