I used to work on a job site with a variety of tradespeople. Back in 2006 I met a 30 year old pipefitter. He was probably making $100k a year if he raked in the overtime on jobs. He has a math degree from University of Waterloo (the university Bill Gates gets all his Canadian employees from)... Why he choose that field, I have no clue (I work in a similar field as him, for reasons that follow). But it was probably a smart choice. Think about it - He lives off the growth and repair of critical infrastructure, while his classmates can await a transient, uncertain life dictated by outsourcing, changing business models in computerland, and having to waste time learning new, and possibly irrelevant APIs and programming languages every few years. Who is more secure?
May be they can enroll for a year or two in the Philippines or anywhere with very low cost of living and very low tuition fees. This combines learning with experience of living in a different country. Starting a business is also a great idea. Unless they get a sizable scholarship, these fees is an outrage except for the very wealthy.
I can easily add few more options, how about professional athletes? Singers? Actors? Talk shows hosts? lottery winners? There are just so many...... How many people made millions by stock options. Those early employees of MSFT, GOOGLE, FACEBOOK?
Maybe college is not worth in the US where it costs a fortune and the debts can't be discharged at BK but where I live(Brazil) there are a ton of public universities that charge nothing(but you got to be smart to get in). Furthermore there are paid courses that are taken online and you only show up every once and a while at the uni for tests and stuff, they are quite cheap. Matter of fact I never want to college but this year I decided to do it just to get a degree. The difference in lifetime earnings between graduates and non-graduates is gigantic(specially when you compound the money). The OP link and Altucher could be correct IF you pay a fortune to get the degree, if you dont then its a no brainer to get one Furthermore I'm studying financial management, so I will probably learn a few things that might help my trading as well
College is basically free in many parts of Western europe as well. As pointed out previously in this topic this makes for many people chosing the same education leading up to shortages in some crafts deemed lesser in worthiness. Hence a good opportunity to make money and build a solid career comparable to those who did get a degree.
After deciding I wasn't going the college route, I figured I'd have to work a little harder and perhaps sacrifice some pay in the short term to balance things out. I took an HR Block tax course (which was free at the time) learned how to do other peoples taxes and learn some basics. Next up (also free) I got my real estate liscense. I really wasn't interested in doing taxes or selling real estate for a living but I needed to know how this stuff worked. Meanwhile working retail all the while, I'm reading trade journals and asking the boss to pay for and send me to various business seminars. which he did. I attended advertising and marketing seminars, etc. Trade journals are focusing on the future and how other cos are problem solving and I'm putting this stuff into practice. -------------- As a previous poster mentioned about the wealthy plumbing business, the guy was a businessman first, a plumber second. There are plenty of talented, skilled trades and professionals but you need to think and operate as a business and many people aren't interested in doing that, it is hard work.
Cheapest master licensed plumber that I know charges $70 per hour. I have multiple friends who are licensed and own their own plumbing business. When things are rocking they easily net 100k. I have one friend who has a master license and only works alone. He charges $70 and hour and on a bad week brings home $1500. The reason the rates stay high is because unlike roofing, framing, sheetrocking, bricklaying, concrete pouring most cities have laws that say only a licensed plumber can do the work which prevents most illegal hispanics from getting into the industry. Same for electrical as well.
in Houston plumbers work for peanuts Here is an example http://houston.craigslist.org/lbs/2242374422.html
I just used a licensed electrician for about 4 hours of work and he also got up in the attic to fish the wires..and then installed a light outside...for $100.00. Didnt speak a lick of english..and yes he is 100% licensed.