Earlier on the blog, I touched on what I’m teaching my kids about building wealth so they can go on to be responsible, thoughtful and wise investors.
Today, I wanted to take things a step further and speak directly with the younger generation. A lot of you have reached out to me over the past year about whether to attend college or get involved with multifamily real estate. You’re well aware times have changed, where college may not be as essential as it once was.
Now, I can’t make this decision for you, but since you asked, here is my advice.
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#1: Get Clear With What You Want
Most people do what their parents want them to do, or do what their friends are doing. But you have to ask yourself…What do YOU want out of life?
If you truly want to be a lawyer or a doctor, then you have to go to school. There’s no shortcut around that.
Some more questions to ask yourself are:
What am I trying to do with college?
Is college going to get me the thing that I want?
College is not inherently good or bad. It can be a tool to help you achieve your goal, whatever that goal may be. But you first have to know what it is you want!
#2: Stop Thinking “This Or That”
There’s this myth that you must pick one or the other.
My question is: Why not do both?
It really comes down to time management.
How can I manage my time wisely between attending college and investing in multifamily real estate?
You can have your cake and eat it too. You just have to find a way to split your time between the two, without sacrificing your grades.
#3: The Degree Dilemma
It used to be that college was the thing you had, other people didn’t have, and so you got the coveted position. In today’s world, that’s no longer the case. Everybody has a degree and it’s not a major differentiator like it used to be.
What employers now want more than anything, is to see you have experience. They want someone who’s actually worked a job before (even as an intern), and has demonstrated some level of skill related to that job.
That’s not to say you won’t stand out by having a college degree, but having experience is becoming more and more the critical factor.
Ultimately, it all boils down to this: What is the best, most efficient way to get that which you want?
Do you see yourself wanting a job or to be an employee? If so, how do you best get that?
If you see yourself working more on your own terms, do you need a college degree for that?
Maybe so, but probably not.
The more logical choice would be to invest in a few online courses or bootcamps, and take action on what you’ve learned.
Our next Deal Maker LIVE is the virtual event you want to attend when it comes to multifamily investing.
Over 2 ½ days, you’ll learn the latest strategies from the top multifamily experts… all from the comfort of your laptop OR you can join us in person!