Success Advice
3 Investments That Are Better Than a College Degree
Let’s look at the facts: the average college student leaves school with $30,000 in debt (according to U.S. News), the unemployment rate increased to 7.2% (up from 4.7%) for 2020 college grads (CBS News), and on average, tuition costs inflate by 8% every year (FinAid).
So I wouldn’t blame you for wondering — whether you’re a parent or a just-graduated high-school student — what investments are better than a college degree.
I myself am a college-dropout (I’m now 28) who’s built a successful freelance writing business that supports my family and allows us to live in Hawaii — no degree required.
A friend of mine, Ryan Dossey (who also dropped out of college and high school), built himself a portfolio of over $8.8 million in real estate assets (with $1.94 million in equity) by the age of 26. He also has founded two businesses that are doing over 7 figures per year in revenue.
How’d we do it?
Well, I sat down with Ryan Dossey and we discussed this simple question: what investments are better than a college degree?
Here’s what we came up with.
1. 3.5% Down Payment To House Hack
Here’s a hack that millennials love — and rightfully so. Get a mortgage to purchase a duplex (or triplex or quadruplex) and pay the minimum down payment possible. Usually, that’s around 3.5%. Then live in one of the units and rent out the others.
Imagine that you purchase a $250,000 duplex — that means you just pay $8,750 for the down payment (far less than most people spend on college). Your mortgage is around $1,100 per month. And you can rent out the other unit for $1,200 to $1,500 per month.
That means you’re living for free and building equity for free. And now you can save extra money every month to purchase more properties and continue growing your real estate empire.
2. Real-World Skills
Maybe real estate isn’t your thing. But maybe you’re interested in copywriting, marketing, web design, sales, or computer programming — those are all skills that you don’t need a college degree to master.
I became an experienced copywriter and online marketer by taking courses, reading, working for free, and getting people results. Eventually I was able to land a paid client. Then another. Then I got a full-time gig as a copywriter. Then I left that job to go full-time as a freelancer.
Now I make well over six figures every year with my freelancing biz — and I can work when I want, where I want, how I want.
So how do you do it?
Start by choosing a skillset that you want to learn. Then look online for reputable and helpful resources — that could be YouTube, podcasts, blog articles, or even social media influencers. Practice your craft every day (even if it’s on your own stuff), invest money to become a master (buy courses!), pitch potential clients, and network with other professionals in your niche.
Do those things consistently and you’re virtually guaranteed to come out on top.
3. Building a Business
Have a business idea? There’s no better time to try and start a business than when you’re just out of high school — and don’t let anyone tell you differently.
You’re at an age where you’ll have more energy than you will 10 years down the road. You also have less risk (no spouse, kids, big debt or bills, etc.). More importantly, you believe that anything is possible.
That’s the best time to grab the bull by the horns — that’s what Ryan and I did… and we wouldn’t change it for the world. You can always turn the truck around in your 30s or 40s if things don’t work out, because you’ve got plenty of time. But now is the time to take your biggest risks and try to build the business you dream of building.
Don’t let anyone tell you it’s too early. If it wasn’t too early for us… then it’s not too early for you.
Success Advice
How to Synchronize Your Conscious Mind With Subconscious Mind for Success
The subconscious mind is like a magnet that immediately and instantly attracts ideas that have emotional content
The human mind has two parts—the conscious and subconscious mind. Both play a crucial role in the functioning of the human mind. The conscious mind is voluntary that you are aware and it goes by logic, analysis, and reasoning. (more…)
Success Advice
8 Inspiring Ways Steve Jobs Changed the World
Apple’s success can be ascribed to two things: visionary leadership and innovative leadership
With Steve Jobs’s resignation as the CEO of Apple, the world went into a tizzy. Scrip fell and recovered gradually. He is one of the most iconic CEOs in the world and is a leadership icon who always sets high standards for innovation. He changed the way people use technology through constant innovation. (more…)
Success Advice
Why Tesla, Apple and Amazon Prioritize Performance Over Everything Else
What influences winning, making money, or achieving goals? It’s your performance.
Everyone wants to win at the things they’re pursuing. In fact, I don’t know a single person who likes to lose. But what influences winning, making money, or achieving goals? It’s your performance. It’s what you do, not what you want, that determines whether you succeed or fail. (more…)
Success Advice
15 Essential Habits to a Stronger, Healthier, and Happier You
The journey towards transformation is not about perfection but about progress
What habits can truly transform your life? That’s what you’re here to uncover. In our no-nonsense guide, we’ll introduce you to 15 habits to change your life, each with the power to improve your day-to-day existence. (more…)
-
Success Advice4 weeks ago
How to Choose the Best Affiliate Programs for Your Blog
-
Success Advice3 weeks ago
Wealth Lessons Everyone Should Hear for Every Stage of Your Life
-
Entrepreneurs4 weeks ago
Build a Strong IT Team with These Smart Hiring Tips
-
Change Your Mindset3 weeks ago
Navigating The Depths Of Self-Love And Relationships With Stefanos Sifandos
-
Entrepreneurs4 weeks ago
How Entrepreneurs Are Harnessing LLCs to Launch Successful Startups
-
Startups4 weeks ago
How to Manage Your Startup’s Finances More Efficiently
-
Success Advice2 weeks ago
15 Essential Habits to a Stronger, Healthier, and Happier You
-
Entrepreneurs3 weeks ago
Most Entrepreneurs Fail to Do This and It’s Killing Their Success