Families are being pulled in all directions financially these days. Most are concerned with just making ends meet. Putting money away for their children’s education then becomes massively overwhelming in today’s economy. And for some families, an impossible dream.
The Reality of the Cost of College
Up until the 1970’s to the early 1980’s, the idea of working your way through college was within reach. Granted, it wasn’t easy, but it was still attainable. Student loans were more accessible, and had easier terms.
With college tuition skyrocketing, student loan access shrinking, and a poor job market, its put college out of reach for many kids. In fact, its forced many kids to look at community colleges as a stepping stone to a four year institution to earn a bachelor’s degree., and changed the way they enter school. Instead of applying to a four year institution, they’ll first go to a community college, then hope to transfer into a university, thereby cutting the cost of tuition.
Wouldn’t it be better if you can prepare your child for paying their own way through college, and do it a fraction of the cost of contributing to their education financially?
Bringing Back the Idea of Kids Earning Their Way Through College
I recently met a fellow trader, someone who did extremely well in his investments and was able to work a few minutes a day, then spend the rest of his day with his wife and young boys, age 7 and 10. He made an extremely generous living.
To my surprise, he told me that he wasn’t going to pay anything for his boys’ college education. Not one stinking dime. It surprised me that he would be such a cheapskate.
He then explained to me that when they’re old enough, he would start teaching them how to trade in the Forex markets, as he does. By the time they’ll be old enough for college, they’ll be more than able to pay for college themselves. And they won’t have to worry about getting a job after college, as they’ll be financially set.
In thinking about this concept, I thought it was brilliant. Teaching kids the skill of trading in the currency markets accomplishes several things at once:
* Takes a huge burden off the family of having to pay for their kids’ education.
* Gives gives parents peace of mind that their children will be able to provide for themselves.
* Because successful trading involves strict money management, it gives kids an excellent financial education.
* Teaches kids goal setting.
* Brings you closer to your kids as you get involved in trading together.