The most important question that needs to be answered when thinking about investing in your future is, should I attend college to find a good job? Our culture has always associated financial social mobility with a strong college education, but no one asks if college is necessary to have a strong financial future. The idea of acquiring a job through trade training or having a job that doesn’t require a college degree is not really discussed. As a result, many young people are left with unnecessary college debt and do not start investing in life until later on because they are so focused on paying down debt.

College Debt

When it comes to investing, your income is a key part of that process. For anyone to put money towards their Individual Retirement Account (IRA), 401K, life insurance, real estate property, and health insurance, all require some consistent level of income. To go even a little further, without a job that generates your income, one’s ability to survive in society would be extremely difficult. Moving back home with your parents might be the only option. However, our American culture teaches us the answer to solving the problem of income and not moving back in with our parents is to attend college, graduate and find a job that matches your college education. This sounds like a clean, easy process but in fact this has been a complicated problem for many young individuals. Most individuals that end up going to college are carrying college loan debt that is preventing them from investing in themselves. Even with a college education many people are not finding great jobs, where they can pay their rent, college loans, and then invest in their future by purchasing a home or have an investment fund. College loan debt has become a path towards financial disaster for many.

Career Options

An individual can move up and accomplish social mobility through a college education, which we usually see in the professional careers of doctors, lawyers, engineers, pharmacist, computer scientists, professors, etc. However, acquiring a college degree is not the only path towards social mobility. There are many skilled trades that offer great income without so many years of college and not nearly as much school loan debt. I’ve listed below all the trade jobs that can offer an individual great financial stability. Although this is a short list, there are many other jobs out there that would fit your needs.

  • Electrician
  • Aircraft Mechanic
  • Plumbers
  • Construction/Carpenters
  • Elevator/Escalator Repair
  • Law Enforcement/Police Officers
  • Truck Drivers
  • HVAC Technician
  • Medical Assistant

Individual Questions

The dilemma that individuals are struggling with when deciding a career path is focusing on their passion and what they want to do with their life. As they spend many years in college trying to figure out what their mission in life is, they end up accumulating debt, with some ending up not enjoying their career they worked so hard for. To avoid this tragic dilemma, you should ask yourself four basic questions. These questions will give you a realistic approach on which way your career path should be headed.

  • What are you good at?
  • Does the world need the skill that you are good at?
  • How much can you get paid for your skill?
  • Where can I get further training to polish my skill?

Value of Time

The most important value in life as well as in investments is time. The amount of time that we spend trying to find out who we are and what is our purpose in life can not be measured. However, what can be measured is the amount of debt people are collecting and the many years they spend in college trying to find a career path. Parents should be honest with their children and let them know if college is necessary for them.

In the world of investment, the earlier you start investing in yourself the better. The term that is used in investments is compound interest; when you earn interest on both the money you saved and interest you earn compounded over time. This is why it is highly important to start investing in yourself as early as possible because when you are young, time is in your favor. However, before you can take advantage of compound interest, you will have to decide what career you will choose to generate income.