this post was submitted on 20 Nov 2023
1 points (100.0% liked)
Entrepreneur
0 readers
1 users here now
Rules
- No Personal Attacks - criticism of ideas is allowed, attacking people is not.
- Self Posts Only - links can only provide supplementary material. Your post must contain enough content to have a discussion.
- No “How To Get Rich Quick” posts - This community is not about making a quick buck. Posts asking the community how to make $X, without making specific reference to a reasonable idea, are not tolerated.
- Avoid unprofessional communication - Please treat fellow entrepreneurs like respected coworkers, label conversations if NSFW and avoid deliberate provocations.
Please feel free to provide evidence-based best practices, share a micro-victory, discuss strategy and concepts with a frame work, ask for feedback, and create professional conversation. Treat every post as if you're at work and representing the best version of yourself.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
It’s been my experience that school is great for socialization and forming lasting relationships. However, If your personal goals are geared towards financial success, school simply doesn’t teach you how to make money. School is the starting point of learning. not the end point. Too many believe it’s the end. Learning never stops. I attended a very expensive private university, and I will tell you that the best part of it was the experience of moving to another city and actually living on my own and doing the things that need to be done as an adult by myself. Also the people who you meet play a big role in that. When you’re going to school with successful people, it changes everything because you start to understand that you can be successful as well. Who you spend time with is so critical. If most of your time is spent with kids from poor families, you’re going to adopt the viewpoint of the poorer class that thinks the only way to make money is to get a job and work for someone else. They don’t see anything else as “real”. Thus they typically end up living paycheck to paycheck.
Everything that I’m doing today to earn money I had to find out on my own and seek out people who we’re also doing it successfully through my own proactive research and sheer ambition because school just doesn’t teach it. I definitely wish I was 25 again.
Finally, my biggest issue with school is the complete failure when it comes to financial literacy. 95% of people who graduate from college don’t even understand what a personal financial statement is or how to read it. People have no idea how credit system works. They have absolutely no idea how insurance works for creating long term wealth. Theh have no idea how to start a business and keep assets safe from personal liability. These are critical things if you want financial freedom.
School is more of a place to go to learn how to be an employee. School punishes failure and mistakes so people end up thinking that making mistakes and failing is bad. Perfect for the obedient employee. However, truly successful people have failed many times and take failing as a learning experience, not a message that they shouldn’t be doing something which is what most believe. Just my 2 cents!
Happy Thanksgiving!
What do you mean use insurance to create long term wealth?