Comments on: A Twenty Million Dollar Tale http://financialtales.com Promoting Financial Literacy Tue, 09 Mar 2010 16:02:50 +0000 http://wordpress.com/ hourly 1 By: Jon http://financialtales.com/financial-tales/young-at-heart/a-twenty-million-dollar-tale/#comment-1092 Jon Fri, 31 Jul 2009 19:14:45 +0000 http://financialtales.wordpress.com/?page_id=62#comment-1092 I ran these numbers about six years ago when my kids were getting ready to attend college. I think a fairly high percentage of parents out there are actually in the category where the cash isn't available to make the investment rather than sending them in the first place, so it's a little tough to execute. The other thing that the numbers don't really take into account, however, is that someone without a college education is very likely to struggle along from paycheck to paycheck, living on credit cards, and not enjoy the quality of life or satisfaction in their career as those who do have the degree(s). If given access to a trust fund of the college money, they're going to spend it rapidly, never allowing it to compound. I love your site; wonder why no one else seems to comment on things here. I ran these numbers about six years ago when my kids were getting ready to attend college. I think a fairly high percentage of parents out there are actually in the category where the cash isn’t available to make the investment rather than sending them in the first place, so it’s a little tough to execute.
The other thing that the numbers don’t really take into account, however, is that someone without a college education is very likely to struggle along from paycheck to paycheck, living on credit cards, and not enjoy the quality of life or satisfaction in their career as those who do have the degree(s). If given access to a trust fund of the college money, they’re going to spend it rapidly, never allowing it to compound.

I love your site; wonder why no one else seems to comment on things here.

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