Is it a good idea to dropout of school to retire much faster ?

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George the original one
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Re: Is it a good idea to dropout of school to retire much faster ?

Post by George the original one » Wed Aug 01, 2018 9:57 am

SustainableHappiness wrote:
Wed Aug 01, 2018 9:41 am
In your examples, I agree if you get generalized degree, or arts degrees X, Y, or Z or no degree -> ????? Whatever job you land at?
You're making the mistake that those of us with generalized or art degrees started out going for those degrees. We didn't end up in technical fields because "whatever job you land at", they were strategic choices to get the diploma and then take advantage of opportunities. Also notice how the people with no degree had plans to boost their careers by going into the military to fund their advancement? In the case of my friends, that was no accident!

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Re: Is it a good idea to dropout of school to retire much faster ?

Post by SustainableHappiness » Wed Aug 01, 2018 11:01 am

@George

You're right. I also find the military track very interesting even though it is much less common in Canada, but still very useful. I am biased by friends and family with arts degrees who struggled for a couple to 5 years afterwards until they found something to do that was an actual career. The shitty thing is, they are often better conversationalists, but conversation rarely = $.

Maybe it's just easier to say any path with a good plan can work...

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Re: Is it a good idea to dropout of school to retire much faster ?

Post by Augustus » Wed Aug 01, 2018 3:02 pm

SustainableHappiness wrote:
Wed Aug 01, 2018 11:01 am
Maybe it's just easier to say any path with a good plan can work...
Or good luck. does anyone seriously have a life plan at 18? i didn't grok how the world worked until about 25. i just liked computers. for my kid, my main goal is to get her set up with a skill, honestly don't really care what it is or how, doesn't have to be degree related, but something in demand that keeps her out of the herd of unskilled aimless service workers.

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Re: Is it a good idea to dropout of school to retire much faster ?

Post by Jean » Thu Aug 02, 2018 11:51 am

My engineering degree was worth nothing in 2010.

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Re: Is it a good idea to dropout of school to retire much faster ?

Post by dropoutretire » Wed Dec 05, 2018 11:49 pm

Lemur wrote:
Sat Jul 28, 2018 11:35 pm
Always do a Cost + Benefit Analysis.

I'll give you two examples. Both individuals will have a 50% savings rate and achieve 5% return in the stock market over 20 years. Person A's savings will be allocated towards paying down the student loan debt before dropped into investing (for simplicity sake).

Person A - Gets $200,000 in student debt, earns a salary of $125,000 a year.
Person B - Has no student debt, earns a salary of $50,000 a year. Has 4 more working years.

I played around with a few scenarios on Excel and found that Person A will eventually eclipse the net-worth of Person B but only after 20-25 or so working years. In any case, Person B would be able to retire sooner. Additionally, this doesn't factor in a few more risks that Person A has. One, his/her degree may not guarantee that high salary. Two, they may not be able to be consistent as the person making the smaller wage due to burnout, etc. Certainly, there is some type of risk premium.
WOW !!!!! I LOVE YOUR SCENERIO !!!!! This is what I've always believed !!!!! Person A has to think way to hard for way too many years in life !!!! too many people forget that sometimes school is really hard and very very stressful !!!! I hated it !!!! Once I dipped out and went and pumped gas I actually loved the non thinking and paycheck collecting world far far far better !!!! LOL !!!!

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Re: Is it a good idea to dropout of school to retire much faster ?

Post by dropoutretire » Thu Dec 06, 2018 12:04 am

prognastat wrote:
Thu Jul 26, 2018 4:55 pm
@ThisDinosaur

Given the name I would assume so.
LOL !!!!! Your a smart one !!!! You figured me out !!!! LOL !!!!!

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Re: Is it a good idea to dropout of school to retire much faster ?

Post by dropoutretire » Thu Dec 06, 2018 12:07 am

C40 wrote:
Thu Jul 26, 2018 7:40 pm
(I'm assuming you're talking about dropping out before graduating high school)

It'd be useful numerically for someone who is certain they will enter and stay in an unskilled trade. For most of the people that have other aspirations, it'd be a huge gamble. As general advice, it's a horrible idea.
Yes your assumption is correct to dropout of high school !!!! LOL !!!! If I had a choice I would have left after the useless 4th grade and started earning and compounding my money !!!!! LOL !!!!! WAY WAY WAY too much time is lost in the power of compounding interest while sitting in class for way way way too long listening to ignorant school teachers that have car loans, credit card debts, and mortgages !!!! LOL !!!! ALL OF THE SCHOOL TEACHERS ARE LEACHES ON SOCIETY AND BORDER LINE WELFARE RECIPIENTS !!!!! They CONTRIBUTE NOTHING OF REAL VALUE TO SOCIETY BUT MORE AND MORE PROPERTY TAXES !!!! I see school teachers on strike on picket lines and I YELL OUT GET BACK TO WORK YOU WELFARITES !!!!!

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Re: Is it a good idea to dropout of school to retire much faster ?

Post by dropoutretire » Thu Dec 06, 2018 12:20 am

C40 wrote:
Thu Jul 26, 2018 8:01 pm
That's a good point.

So, for someone who wants to be a programmer, there could be use to it. There would still be limitations on where you can work. In the large company I worked at, you couldn't get any job without at least a GED. Technical and management jobs needed (significantly) more.

It could also be useful for some highly driven and entrepreneurial people to drop out. On average, though, it's a bad idea. Here are the numbers, from: https://en.wikipedia.org/wiki/Personal_ ... ted_States

AVERAGE INCOMES:
  • Some high school - $25k
  • High School graduate - $34k
  • Associates - $38k
  • Bachelors - $61k
I did the math, using $8,000 part time earnings for student years, $50k cost of college, 3% annual income increase, plus a 10% promotion every 10 years for everyone. The dropout quits school at 15 and works full time from then on.

On cumulative income the HS grad crosses ahead of the dropout at age 26. The college grad is ahead at age 27, and then pulling ahead fast. At age 50, here are the earnings:
  • Dropout: 1.4 mil
  • Highschool grad: 1.8 mil
  • College grad: 2.7 mil
LOL !!!!!! I drove a semi truck putting around Portland Oregon locally for about 15 years until I retired at 39 years young and I made about $7O,OOO A YEAR !!!! LOL !!!!! I dropped out at 15 and yes retired at 39 and the biggest reason why was because I beat inflation and bought a bunch of retails houses in the 90s !!!!! LOL !!!! SCREW SCHOOL !!!! ITS A MONEY PIT !!!! :D :D :D :D :D :D :D :D

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Re: Is it a good idea to dropout of school to retire much faster ?

Post by dropoutretire » Thu Dec 06, 2018 12:24 am

C40 wrote:
Thu Jul 26, 2018 10:48 pm
you mean "you're", as in you are. Not "your", as in the possessive version of you. LOL !!!!!!

As I said, on average, the crossover points are at age 26 and 27.
OK GRAMMAR POLICE !!!! LOL !!!!! By the way grammar is not important !!!! We live in the vast universe on a sock of dust called earth !!!! SO WHO REALLY CARES UNIVERSALLY ABOUT GRAMMAR !!!!! LOL !!!! :D :D :D :D :D :D :D

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Re: Is it a good idea to dropout of school to retire much faster ?

Post by dropoutretire » Thu Dec 06, 2018 12:43 am

Farm_or wrote:
Fri Jul 27, 2018 6:54 am
Ah yes! The good old individual affidavit vs the scientific case study?

For the choice few cognitive enough at age fifteen to ask themselves the op question, maybe it should be given serious contemplation. For the vast majority: "stay in school."

You'll never really know what you didn't learn. Your lack of education will be readily apparent to anyone else with an education, particularly when you are trying to communicate. And you will always have to wonder: I did good without the formal education, but how good would I have done with that head start?
No lack of education here PERIOD !!!! LOL !!!!! I am far more educated than people that have a masters degree. When people talk to me they always assume that I must have a masters or a PHD in something but thats because I dropped out and learned from millions of minds instead of a few lack luster broke school teachers that really suck at finances !!!! LOL !!!! Teachers are always broke, they whine about being under paid, they always carry massive student loan debt, credit card debt, and mortgage debt !!!! LOL !!!!! IF YOU WANNA BE BROKE WELL THEN LEARN FROM A SCHOOL TEACHER !!!! THEY WILL TECH YOU HOW TO BE BROKE !!!! LOL !!!! :D :D :D :D :D :D :D :D

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Re: Is it a good idea to dropout of school to retire much faster ?

Post by C40 » Thu Dec 06, 2018 11:28 am

dropoutretire wrote:
Thu Dec 06, 2018 12:07 am
ALL OF THE SCHOOL TEACHERS ARE LEACHES ON SOCIETY AND BORDER LINE WELFARE RECIPIENTS !!!!! They CONTRIBUTE NOTHING OF REAL VALUE TO SOCIETY BUT MORE AND MORE PROPERTY TAXES !!!! I see school teachers on strike on picket lines and I YELL OUT GET BACK TO WORK YOU WELFARITES !!!!!
:shock:

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Re: Is it a good idea to dropout of school to retire much faster ?

Post by Clarice » Thu Dec 06, 2018 5:04 pm

dropoutretire wrote:
Thu Dec 06, 2018 12:43 am
under paid,
Last edited by Clarice on Thu Dec 06, 2018 9:52 pm, edited 1 time in total.

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Re: Is it a good idea to dropout of school to retire much faster ?

Post by jennypenny » Thu Dec 06, 2018 8:36 pm

We need to add some non-alphanumeric character quotas to the forum rules of conduct.

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Re: Is it a good idea to dropout of school to retire much faster ?

Post by C40 » Fri Dec 07, 2018 12:36 am

Anybody remember in Seinfeld when Jerry got labeled an Anti-Dentite? (being anti dentist). We have a real deal Anti-Educatite.

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Re: Is it a good idea to dropout of school to retire much faster ?

Post by dropoutretire » Sat Dec 15, 2018 1:49 pm

C40 wrote:
Fri Dec 07, 2018 12:36 am
Anybody remember in Seinfeld when Jerry got labeled an Anti-Dentite? (being anti dentist). We have a real deal Anti-Educatite.
LOL !!!!! Im EXTREMELY PRO education !!!!! The schools teach far too slow and they are very non-cost effective. The school system is full of money wasting whores thus putting property tax payers into unwanted slavery !!!! LOL !!!! :D :D :D :D :D

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Re: Is it a good idea to dropout of school to retire much faster ?

Post by dropoutretire » Sat Dec 15, 2018 1:51 pm

jennypenny wrote:
Thu Dec 06, 2018 8:36 pm
We need to add some non-alphanumeric character quotas to the forum rules of conduct.
Rules are silly !!!! WE HAVE TOO MANY OF THEM IN AMERICA !!!!! LOL !!!! Someday there will be soooo many that EVERYONE will be considered a criminal !!!! LOL !!!! :D :D :D :D :D :lol: :lol: :lol: :lol: :lol:

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Re: Is it a good idea to dropout of school to retire much faster ?

Post by dropoutretire » Sat Dec 15, 2018 3:50 pm

Kriegsspiel wrote:
Thu Jul 26, 2018 2:55 pm
I think people who are destined for upper-level intelligence work and/or hands-on trades are both alright saying 'screw school.' So, like people who are developing apps or getting hired by people who they impress to do computer work, and the kid who has fun messing with cars or HVAC systems, or even who just realizes they're not that smart (so why waste money/go into debt). Most everyone else is gonna need a degree to get the best job they can (prisoner's dilemma).
I love what you said, ( prisoners dilemma ) SO TRUE !!!!!

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Re: Is it a good idea to dropout of school to retire much faster ?

Post by JamesR » Sat Dec 15, 2018 10:51 pm

@dropoutretire

Honestly, you're coming off as an internet troll and you will probably find yourself uninvited if you can't stop writing like an 11-year old.

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Re: Is it a good idea to dropout of school to retire much faster ?

Post by SavingWithBabies » Mon Dec 17, 2018 11:17 am

Ignoring the excessive trolling for a moment...

I don't know if this thread touched on it but there is also classism in terms of where you graduated from. I was somewhat aware of this growing up with the University of Chicago, Harvard, MIT, etc, but I didn't put a lot of stock into it being important. When I went to the SF Bay Area, I realized that area has a huge crush on Stanford graduates. That was news to me as it just wasn't on my radar. So if you want to become a startup founder/cofounder or be an executive, Stanford is a good bet. It's not required but you'll get so many breaks. There are of course plenty without a Stanford pedigree but once you're aware of the bias, it's hard not to see it.

Of course, if you just want to retire faster, you probably wouldn't choose to be a startup cofounder/executive. I think the kernel though is that life isn't fair and school can give you a foot up. If it's a foot up that is actually useful for you really depends on you and where you want to go.

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Re: Is it a good idea to dropout of school to retire much faster ?

Post by Kriegsspiel » Fri Jan 04, 2019 3:59 pm

Interesting. GSS wordsum-derived IQ scores among college grads.

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