What's the purpose of college if you're a millionaire?
I was having a discussion about this.
Everyone basically craps on people who don't go to college. And that can be justified in some cases. I know I went, and now I have a job that that I guess I could have got with an associate's degree (damn).
Regardless, let's say you're 18 years old and you became a millionaire. What's the purpose of going?
There are few things the professors can really teach you if you're a business major that you cannot learn hands on from professionals. Ya know, they still teach out of an (expensive) textbook. So it's kinda like what's more informational....a professor who may just have a CPA in accounting teaching you 75% from a book and 25% from real life....or someone who gets paid to be an accountant who actively practices their profession???
Or, you might have made a great app for phones. Does it matter how you program??? How would you feel if your professor gives you a B for your knowledge of programming...while using your app? You know? It's like you were good enough to make a million off that coding....
OK, so the next argument is that you're going for enlightenment and knowledge. Once again, do you really need to pay 40-100+k over 4/5 years to learn introductory concepts??? A bachelors degree doesn't signify that you're smart - it tells employers that you're well-rounded and dedicated to your career.
Plus, you're a millionaire. You can afford to once again explore the world instead of read about customs. And more than likely, you don't have a job, so you can go out and speak to real sociologists and people who record historic events and all that stuff.
The final argument was for social quo purposes. You do meet a lot of people in college, and with those connections, you can network through people and obtain lifelong friends potentially. That is sensible to me, because you really do meet a lot of people through college compared to just regular life.
But...once again....you're a millionaire. The chances are your cover will probably get blown the moment you pull up in your clean aston martin. Or, when you try too hard to fit in and everyone notices that you're always paying for the food and stuff. Or, when someone just does a google of your name and sees that you're worth a million or more. People have facebook - your old friends will probably spill the beans and blow your cover if you had one.
This is the only argument I could think of today. If you're a millionaire - self made or through family - and you want to prove to everyone that even though you got the money, even though you have no need for it, and even though you'd rather be vacationing for a while in some tight country....you still took 4/5 years of your life to accomplish that task.
Because some families really never have anyone graduate from college. Mine was like that in a sense. If I were a millionaire, would I have went? Sadly, yes. Just for that reason. Just to do it.
The purpose of my thread though is this; what's the reason of going if you're rich???? Other than sentimental reasons....I don't think there is one!
Quote from tli415 :
"Capitalization is the difference between "I had to help my uncle Jack off a horse.." and "I had to help my uncle jack off a horse..""
My first question is how much would the 18 year old in your scenario really be worth? If your talking about kids who just broke $1,000,000, yes it's a great head start, but it won't last a year based on the spending your describing (An 100-200k car). Millionaire is a VERY general term, specifically what range of net worth are you talking about (1-10 million, 10-50 million, 100-500?)
Learn astronomy from someone who designed part of the Hubble telescope
Study Roman classics from someone who's translated them from Latin.
Take a physics class taught by a Nobel prize winner.
Take a music class from someone who's conducted symphonies.
Learn about politics from someone who's run Senate campaigns.
There are so many wonderful ways that you can enrich your mind at college. It makes me sad that you think college is as limited as learning a money-making trade or reading books you can read on your own.
I see no merits in going to college if it isn't "for you". FAR too many people go to college because it's seen as "grade 13" and the net result is a garbage diploma and tons of $$ in debt. If you are wealthy there's another angle - presumably you'd have enough $$ to not have to worry about "working" in your life but then the question to you is - what else IS there? If you didn't have to worry about money, how much partying and travelling would it take for you to get tired of it?
I'm not sure why you assume that you could learn from a professional in the field rather than a teacher. Is it because you know someone or just because you have $1,000,000? It doesn't seem like money would really make a difference, and while it would be better experience, unless you do some pretty amazing things while working for/with him, I don't think you're going to score another job over someone with a CPA.
First of all, I'll assume by "millionaire" you mean wealthy enough to live without working, since simply having $1M is not enough to live on long-term. Just because you're a millionaire doesn't mean you don't want to have a career. And if you want to go far in that career, chances are you need a degree to not hit a ceiling. If you want to just be able to invest your money wisely and make your fortune grow, I'd agree that college probably isn't necessary. If I had a lot of money I'd probably have forgone college and tried my hand at investing a significant portion of it.
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