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From the stats I’m reading, it appears that as more people enter the workforce, there will, of course, be more millionaires going forward, but, proportionately, the percentage of that population will remain about the same–which is, amazingly, quite low.

On the flip side, there will also be a much higher percentage of people living paycheck to paycheck (for reasons too numerous to mention), and working longer–because they have to–with the net result being a diminishing quality of life for more and more people as each generation enters their 50’s and 60’s–whether they want to retire or not.

I guess only time will tell how things play out.

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My wife has always had very vivid premonitional dreams, and, over the years, we’ve seen many materialize, and have taken a particular action because of them. It’s been interesting to say the least.

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[quote=Essbee]You can get into medical school from either UC or Ivy schools. It can happen from CSU, but it is statistically much less likely. Is this because the students are on average weaker, or because there is prejudice against them, or a bit of each? I don’t know the answer to that.

I can only tell you my observation that I have not met a physician colleague who went to SDSU for undergrad. I’m sure they are out there, somewhere, but they are much fewer than Ivy/Stanford/UC/other private/etc.

Californians overall are at a disadvantage compared to other states because there are just too many college age people. Probably better to attend a midwestern state school and apply to med school there in that same state. Much higher chance of success, I’d wager.

If a California high school student asks me for advice about getting into med school, I will definitely advise Ivy/Stanford/UC OR a few other certain small, private schools with name recognition. This path will give them the greatest chance of getting into a US-based, allopathic (MD-granting) medical school, if this is their goal.[/quote]

Good post, Essbee. My daughter, and some of the other kids in our family who became MD’s pretty much found what you mentioned to be true.

Everyone can decide for themselves how they want to try to enter this super competitive field, as I’m sure there are other paths that work out well also.

As far as choosing MD’s and hospitals for personal healthcare, we definitely look at credentials as well as track record before seeking care, even if it means going out of town. There are definitely some places in San Diego that we would never seek care.

And, even though we seem to be in good health, with parents who lived long lives–we still go in for check-ups. Can’t tell you how many people we’ve known who felt well, so they really never saw an MD, then, when they suddenly didn’t feel so well, for whatever reason, they found things had been going on that didn’t present symptoms until it was too late. (consider this my PSA for regular check-ups)

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Very informative, nla. In our neighborhood (RSF), for better or worse, it’s pretty much “Ivy or bust” land. As I’ve heard from friends, even then, things don’t always work out as planned, so there are still no guarantees as far as career outcomes are concerned.

So far, so good, for the two of our three kids who graduated from Ivies, and I wish your daughter the best.

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All of us who went to college, and everyone in college now, has, and is, in essence, banking on a “potential outcome,” with no guarantees, whether they realize it or not, and I completely agree that going into extreme debt for that “potential outcome” is very risky. Many parents today are getting a very disappointing ROI in that regard–and I know a lot of them personally.

If the grandparents hadn’t willingly financed the education of all of the kids in the family, especially those who went to med school like my daughter, I know my wife and I would have had some serious discussions about how far out on a limb we would have been willing to go to finance their educational dreams, vs. investing in properties and other things for them, etc., as AN mentioned.

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Agree with teaching kids about ROI. Our kids were clued in at a very early age, and we got them involved in their own investments as soon as we could–just as my Dad did with us. Also agree avoiding debt concerning education is definitely the way to go if at all possible.

In the final analysis, if your kids can live the lives they want to live, imo, that’s what really matters.

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[quote=scaredyclassic][quote=flyer]As your kids and their friends start graduating from college, start noting how many get not “a job,” but “the job” they want, and are able to buy homes (if they so choose.)

You might find the results shocking.[/quote]

no. I assume disaster. I am shocked when things even come close to working out[/quote]

I realize you understand this, scaredy, but many who are sending their kids to college, believing it is a automatic ticket to success, don’t realize the stats clearly indicate an over-saturation of college grads in the US, and, with globalization, it’s predicted things may only get more challenging for US grads in the future.

That is why I mentioned I believe connections will ultimately control the destiny of future generations, and should be as highly pursued as any degree.

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As your kids and their friends start graduating from college, start noting how many get not “a job,” but “the job” they want, and are able to buy homes (if they so choose.)

You might find the results shocking.

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joe, good points–yes to your question–and, as mentioned before, I agree connections (and luck, as AN mentioned) do, in many cases trump education.

Most people raise their children to think life is an even playing field, and, sadly, it’s not. Even though our kids lives proved to benefit from their education and connections, we made it very clear to them at a fairly young age that it was not going to be a “walk in the park,” and that things don’t always go as planned for many reasons. I just don’t agree with raising delusional kids, and our society seems to be producing more and more of them. Possibly one reason suicides are up among young people.

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[quote=flu][quote=scaredyclassic]My fancy ivy league pedigree paid for by my folks made my mom very angry that I was sending my kid to SDSU. Hell I wouldn’t even let him apply anywhere expensive. She felt like I was being a cheapskate and not paying forward what I got.

The kid was cool with that. Kids are OK with some direction.

Prestige. Held me back in some ways. I should’ve been in a state school.[/quote]

I’m not quite sure why I went in hindsight. I guess I just wanted to get out of CA and try something different. In hindsight, probably not the smartest move for engineering.

Anyway, my kid decided she wanted to be a fashion designer and at one point wanted to be a professional cheerleader. I think we settled on fiction novelist for the time being.

So why I’m talking or worried about Ivy League school is beyond me…..

I guess karma is circling back around and paying me a visit despite all the things I say about how great STEMs should be for kids…lol….

Ai-Yah![/quote]

Your daughter’s aspirations (even though I realize she’s still very young) remind me of the conversations many parents today are having, even with older kids.

Many of the kids today don’t really want to get “real jobs,” and they don’t realize the competition for “dream jobs” is extreme.

My wife runs into the heirs of tech moguls in Hollywood all the time who are immersed in the business–developing/bidding on projects, etc.–and want to be as far away from tech or the way their parents made their money as they can possibly get.

Again, connections prevail, that completely shut out many other very capable individuals. This seems to be holding true in many professions, other than entertainment.

Then, of course, professions that may be “hot” today may not be when kids graduate from college. Again, variables so numerous, that choosing a profession has almost become like throwing darts at a dartboard.

Hopefully, as their kids get older, parents will level with them concerning the realities they will be facing in life.

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[quote=flu][quote=AN]flu, UPenn is #1 Undergrad biz specialize in Finance. So, it’s obvious that it would carry some weight when you’re apply wall street. However, #3 is University of Michigan–Ann Arbor. Harvard is not even in the top 10. Do you think wall street would prefer Harvard over UMich?[/quote]

Actually, yes. Because there are a lot of people that go to Harvard on wall street. And wall street works like a fraternity. Hey, I don’t like it either, but that’s how the game works.[/quote]

Exactly to my point about how connections trump education in many, many cases.

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The variables other than education are the real deal breakers. Can’t tell you how many people I’ve known and my kids have known who got where they are via connections vs. education. In my kid’s case, even with great degrees, connections trumped education every time.

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There are thousands of stories about how one person succeeded and another didn’t–with and without degrees. IMO, it’s all relative to what each person wants. To me, success, is about getting what YOU want, regardless of what other people do and have.

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Please do not construe this as advice, but, after reading your post, my thoughts are, as flu mentioned, that Option #2 is definitely a bad choice for many many reasons, and may end badly.

If you choose Option #3, and sell your home, you need to ask yourself where you are going to live, and how much that will cost you versus your current situation.

At your entry price point, you are going to have a difficult time finding something as reasonably priced–if you plan to stay in San Diego–and you may actually end up spending more for housing than you are now.

This brings us to Option #1. If you plan to stay in San Diego–and this is key–it seems your current housing expense is quite reasonable for the area. Unless you really want to downsize, imo, you’re going to have a hard time finding a less expensive place to live–even if you rent. If you choose Option #1, perhaps you could consider a roomate, or taking on additional jobs, etc. until you pay off some of your bills.

Ultimately, the question is whether you can afford your lifestyle or not, and that is a question only you and your family can answer. I wish you the best.

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When you compare notes with people who have kids in or a few years out of college the resounding concern is how they are going to get the jobs they want, where they want them.

Having been raised here, our kids and most of their friends wanted to stay on the West Coast. Our kids have been lucky in that regard, but it’s astounding how most have had to leave–in order to make their degrees pay off–regardless of where they went to college.

The competition out here is fierce, so it’s probably best to let your kids know a college degree is not an absolute guarantee of getting what you want in life.

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