Monday, June 7, 1999
Instead of College
by William Wittmann
So my Foolish daughter is not going to college. I was bred by the Wise to go to college and get a good job, so you can make lots of money and be somebody. How Wise. My kind, generous, and Wise parents have put aside money for my daughter's education, which has grown through Wise investing to about $100,000 -- enough to pay for four years at my Most Holy Wise Alma Mater.
My Foolish daughter does not confuse education with schooling. She loves to learn. For her academia is, as it sounds, a kind of disease where the soul and heart are at great risk of being quietly sucked out of you. She wishes to pursue her passions for healing horses.
So here are some numbers. If the money grows at an average rate of return of 24% like the Foolish Four has done over the past 25 years, by the time she's thirty (12 years) she will have $1,321,478.87. It gets better, if we throw some Rule Makers into the mix and nudge the return up to 30% she will have $2,329,808 by the time she's 30.
So let's compare that to college's results. She follows her passions and does work she loves for 12 years, lives Foolishly, and becomes a millionaire by 30, soul and passions in tact. Has she become somebody? Yes, she is a Fool.
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