Investing in Education
Wikipedia defines investment as the allocation of money (or sometimes another resource, such as time) in the expectation of some benefit in the future.
Wikipedia defines education as the process of facilitating learning, or the acquisition of knowledge, skills, values, beliefs, and habits.
The foregoing suggests that, before investing a great deal of time and money in the pursuit of knowledge and skills, some consideration should be given to the probable return on that investment. It might also be helpful to consider alternative approaches and cost.
Consider a college education. A significant majority of Americans live within commuting distance of a broad range of institutions of higher education. It would be quite feasible, for those individuals, to live at home, work part time and commute to classes. This may not offer the benefits of a “college experience”, but the cost/education benefit could be very attractive.
This is not to deny the appeal of going away to college. Prospective students might also consider that, where you went to school, is much more important in finding your first job, after that, where you went to school becomes materially less important.
All comments and suggestions are welcome.
Walter J. Kirchberger, CFA®