[an]

[quote=FlyerInHi]Yes, I understand that there’s definitely is pushback against the escalating cost of education.

Young folks are not buying houses and there’s not wanting to take on large loans to fund education.

But, if you have the means to pay for education or you have the means to help your kids buy a house, then why not?

If you live in a million dollar house (or own several investment properties) then you can afford to pay for Ivy league. It might financially hurt but you have to make sacrifices for your kids.[/quote]Again, unless you’re a multi-millionaire, those of us who are lower on the financial totem poll have to weigh the various ROI. Would you be will to sacrifice your retirement for your kid’s Ivy education? Would you be willing to drastically down size your living standard to pay for your kid’s education? Would you be will to give up the possibility of helping your kids’ buy their first house or give them capital to start their first business? Unless you’re swimming in cash, these are the kind of ROI I’m talking about.

[an]

[quote=joec]I agree with most of your comments except for the last paragraph. Like most things in life, high risk in business will yield high rewards as well if it works out.

As I mentioned, I know some failed biz people who went back to 9-5 jobs so sure, you can be a multi-millionaire and it’s one of the only ways since you can make 0 profits and put EVERYTHING back into your company so you can expand without taxes, but like I said, it’s exceedingly hard to do as you appear to understand. Similar to being a pro athlete or entertainer, sure, you can be a multi-millionaire that way too, but it’s not very likely. My feeling is that business is not as easy as you make it out to be.

I have more belief that the MIT grad (or ivy drop out) will be the one with 10 apps while in school vs. the SDSU guy. Is there any weak college grads or even any near comparable numbers than the Stanfords/Ivys?

The reason there isn’t is because the Ivy’s (if you get in) already weeds out and finds the best folks who WILL be the guy starting companies already.

Just in the news, more fuel for the fire:
http://www.forbes.com/sites/antoinegara/2015/03/26/new-google-cfo-ruth-porat-will-get-a-massive-raise-for-leaving-morgan-stanley/

New CFO of Google:
http://en.wikipedia.org/wiki/Ruth_Porat

Ruth went to Stanford, Wharton MBA, London School of Econ…All private, dad worked at Harvard.

CFO of Twitter:
http://en.wikipedia.org/wiki/Anthony_Noto
West Point (if you can get in, free education and great school)…MBA Wharton.

Mention of Mark Meeker:
http://en.wikipedia.org/wiki/Mary_Meeker

Depaul (Private), Cornell MBA

Maybe when you hit a glass ceiling, you start to see the big differences in options after you hit either a female glass ceiling or the asian glass ceiling. (where I felt I ended up and where a lot of my comments and experience stems from).[/quote]
joec, you like to point out all the ways you can fail as a business owners, but then point to only the success like Ruth Porat. What about the majority of Ivy graduates who end up not being as successful as Ruth Porat or Mark Meeker? Not everybody can be Ruth Porat. I’ve said it before and I’ll say it again, there are a lot more millionaire business owners than millionaire W2-er. When you get to the billions, that club is almost exclusively business owners. If you disagree, do you think it’s easy to become the Ruth Porat of the world? What’s the probability of you becoming Ruth Porat of the world vs a successful small biz owner?

Again, I NEVER said it was easy to be a millionaire, be it business owners or W2-er. If it is easy, then everyone would be a millionaire. But it is easiER to be a millionaire as a business owner than a W2-er. See the difference there? So, don’t draw up straw man and beat it down. I NEVER said it was easy. It requires a lot of hard work, luck and capital.

As for the glass ceiling, that ceiling is there ONLY if you’re a W2-er. As a business owner, the glass ceiling is YOU. Both you and I are forming our arguments based on what we’ve experienced. But I’ve also looked around me at the many successful multi-millionaires. None of them went to Stanford or Ivy. They all went to SDSU/UCSD/no college at all. While the people I know that went to Standford or Ivy are doing no better than their counter part who went to state schools. The doctors that I know are knee deep in debt while those of us who are not highly educated are doing quite well financially at the same age. You’re smart enough to know about the power of compound interest. The hardest million to get is your first one.

[an]

[quote=FlyerInHi]Same goes for a fancy house. But people still want it.[/quote]
Exactly, look what happen in 2008. Those who leveraged to their eye balls on those fancy houses got killed. Which is one reason why millenials aren’t buying en mass right now.

[an]

My wife rarely put on make up, only for very special occasions and that’s one of the many reason I love about her. I probably wouldn’t have married her if she look fake all the time. I personally don’t like all the fake beauty with make up. I rather have real beauty without make up.

[an]

joec, I never said it was easy. I just say it’s more likely to be making millions as a business owners than a W2-er. All the multi-millionaires I know are business owners. I know some well off W2-er but they’re not multi-millionaires. Of course, it requires a lot of hard work and a lot of luck and a lot of capital. But the ceiling is definitely much higher as a biz owner than a W2-er. I’m not even talking about billionaires like Bill Gates/Steve Jobs/etc. I’m talking about the people who own a bunch of T-Mobile/Sprint/etc. franchises, the people who own a small/medium size electronic manufacturing company, the people who own a successful restaurant and expand to 2-3 locations, etc.

Your assessment about when guy don’t care is pretty spot on. I was married with kids by 30.

I also agree that there are some degrees where ROI of Ivy is actually not bad. But I think the % of those degrees are minimal. So, if your kids are dead set on those fields and have the chop to succeed in it, then by all mean, go to Ivy. But for most, I would say, ROI is not there and only go for the prestige.

As for your tech comment, tell me, who would be more likely to be hired? A SDSU student who have a couple of apps/games that’s in the top 10 in the app store while graduating with Magna Cum Laude or a MIT graduate with a 2.5 GPA and have no work experience?

[an]

[quote=svelte]Is it this?

15,300 kwh / 10.4 kw = 1471 hours

1471 hours / 365 days = 4 hours / day.

Do I have that right or am I out to lunch?

4 hours a day seems light…[/quote]Usually, I’ve seen solar system talked in term of kWh (# of panels x # watt the panel produced per hour). I think that’s a better way to compare system wrt cost. Since every house is different, it would be hard to compare. It better to compare theoretical max production vs actual production, since every house is different.

[an]

Wow, that’s a huge system. I thought I was a big energy user, yet my 3.8kWh system is enough to keep me in Tier 1 most of the year.

[an]

Since, Bill Gates, Steve Jobs, Mark Zuckerberg are all college drop outs…

A piece of paper can’t feed you but the millions/billions in the bank can… for a very long time.

[an]

[quote=flu]There comes a time when you get sufficiently old enough, you just don’t give a shit what other people think anymore.

I think that usually sets in when you’re 40 (at least it did for me). Because statistically, your life is already 1/2 over.[/quote]I came to that conclusion around 30. But I agree with you. I used to care, but after awhile, I ask myself why, and since I can’t seem to come up with a good answer for myself, I stopped caring what other people think.

[an]

[quote=The-Shoveler]Yea I wonder at the wisdom of my younger relatives going for their PHD in engineering right after they just graduated with their Masters.

I am not sure what a PHD in engineering will actually get you.

Maybe if you go into some super secrete Gov Job.[/quote]
It gets you two plus years of not having to actually work in the field. It will also impress people like brian who value those kind of things.

[an]

There are more multi-millionaire business owners than MD/PhD/JD. I rather my kids married someone who they love, who love them back, and they both love their kids. That’s far more important than net worth much less degree. I could careless if their spouse is a doctor or a hairdresser, as long as they truly love each other and put the other person ahead all else. I also would much rather they marry a multi-millionaire salon owner than a MD who is deep in dept. I also could careless about IQ. Street smart > book smart any day for me. Obviously, having both would be ideal.

Anyways, different stroke for different folks. Which is why Elite U are still able to charge crazy prices. There will be people just like you who would gladly pay for that education, ROI be damned.

[an]

[quote=FlyerInHi][quote=Dukehorn] And in this day and age, it’s the affluent and well-educated marrying among themselves. Latest weddings I went to JD/JD, MBA/MD, MBA/MD, Phd/MD, Phd/MD. I know a few couples with a MD wife and a BA/BS husband (but all the guys were swimming in tech options). Hate to say that marriage has a business like transaction aspect to it but let’s not pretend that it doesn’t.[/quote]

Yep. I said it, but best to pretend in polite company.[/quote]
Well educated? So you’re saying if you’re not a PhD/MD/JD, then you’re not well educated?

As for affluent, I would have believe this statement when I was 22, but after many years of working, I’ve opened my eyes I see that W2-er, be it MD/JD/PhD or Engineers/RN/etc, are not the affluent. They’re they solid upper middle class. But the truly affluent are the biz owners. As I’ve said earlier in the thread, I know people who have nothing more than a BS and are not even using their degrees, are now having net worth that would run circle around any PhD/MD/JD. I also know a PA who own a clinic who “employ” a MD so he can have his clinic. Guess who gets to keep all the profit from that clinic?

FYI, degrees is definitely not even close to the top factor for me when finding a spouse. Net worth is much higher than degrees and net worth is not even the top 3.

[an]

[quote=FlyerInHi]Education is not necessarily about ROI. Like anything in life, there’s perceived value. A prestigious education can just be the Prada. The Walmart brand is just as functional.

Would you veto your wife’s purchase of a Prada? You might even go out and buy it as a gift, haha…[/quote]Exactly, the people who would pay for a Prada would pay $100k+ for a BS in underwater basket weaving 20+ years ago and will gladly pay $400k+ 20 years from now. Those who wouldn’t 20 years ago wouldn’t do so 20 years from now and probably wouldn’t be buying Prada. Different stroke for different folks. Which why I don’t think article like these would get people to change their minds.

[an]

[quote=flyer]It’s very interesting, and unfortunate that you are already seeing evidence of these predictions firsthand, and I think it should be a wakeup call to a certain degree–especially to those who have younger kids who will be planning careers in the future.[/quote]20 years ago isn’t too different from 20 years from now. Private schools were $30k+ a couple of decades ago. So a BS would cost you $100k+. If that doesn’t get you think think twice about majoring in underwater basket weaving, I don’t think a $400k price tag would do it.

[an]

[quote=spdrun]

But SD can take lessons learned from Bay Area and have proper public transit and limit the area of major job centers.

“Proper public transit” and “Bay Area” in the same sentence? Haha. Hahahahahahahahahahahahahahahhahaha. (Going to wipe coffee off my screen now.)[/quote]proper transit + Chicago/NYC/London/Paris/etc. We saw what happen to LA and Bay area. We know what not to do. Just because we want growth does not mean we have to settle for the same mistake they made. You really need to improve your reading comprehension. I never said bay area have proper public transit.

[Author]

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