My kids have all been told that we expect that they get some sort of post-secondary education. Whether that be college, community college or trade school is up to them.
My eldest is planning on 2 years of community college and then transferring to UMD to finish the degree. (there is a cooperative agreement in place for the program). We are happy with that because they will get a chance to see if this is the right major program for them with little to no cost to us. I've always thought that a gap year is a good idea because most kids have no idea what they want to do when they grow up. |
we have money for my kid to attend college, so they better |
You get to keep that money if they don't. I don't think anyone is suggesting that kid doesn't go to college and you blindly hand over that money to them. |
Or what about a dog groomer? |
DP. If it's in a 529, you have a steep penalty (10%) if the money isn't used for college or other post-secondary education. |
Well, you can of course keep it out there as your kid may grow up and decide they actually do want to go to college, or maybe you decide to fund your grandkids, or maybe you decide taking 90% is still better than possibly wasting it on a kid that you force to go to college and maybe the kid drops out. |
Wouldn't that electrician have to get special masters training? My brother is in HVAC and took classes every night for years after work to become masters level. |
As of this year, you can now roll it into an Roth IRA penalty free up to $35k. |
I make $275k and never graduated from college. My friends all did and earn much less. I own my own business. Sales is another path to earning a living and that's nothing college can teach. An education is different but you don't need a degree to be educated.
If you have the personality and drive getting a good sales jobs can be big money. My niece is a college dropout and got a clerical job at a small company that sells something technical to schools, I don’t know. She moved up to sales, represented them at conferences around the country and the commissions just poured in. She’s now vice-president of sales. Makes a Mid six figure income. Another niece had a useless degree in hospitality and was working at a hotel. Covid came, she was laid off and her friend recommended her for a job in sales. It was work at home for a start up whose services were in high demand. She made 5 times as much than her previous job. Plus anyone can decide to go to college later on or trade school or get a two year certificate for a specific job. |
That’s just not true. There are more options now than there were years ago. Luckily there are options. Not everyone wants to sit in an office staring at a computer screen all day. Also not everyone wants to be physical and outdoors in all kinds of weather. |
why punish them for making a decision for themselves?
Y'all need to realize that many successful people didn't go to college and went to a trade school or started their own business and you rely on them all the time such as those in trades or construction or mechanics. The best part is they realize you think you are so smart and charge you more than people who treat them properly. |
Our kids ended up not needing all their money so we (parents) took a language class in italy and it was all covered once we changed it over to our names. |
COVID was very damaging to a lot of young people. There were multiple failures from the federal government level to the school systems, all the way down. It will take a generation to work through it. |
I think everyone agrees you should acquire skills...just not necessarily a college degree. |
I am in sales and out earn everyone I know that went to college. |