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3 Investments That Are Better Than a College Degree

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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.

Mike Blankenship is the low-profile, high-impact writer behind lots of online brands and businesses. He's also the co-founder of The Tonic, a free email newsletter that makes personal growth interesting and enjoyable.

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Success Advice

What Every New CEO Must Do in Their First 100 Days (or Risk Failure)

Your first 100 days as CEO could define your entire legacy, here’s how to make every move count

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Image Credit: Midjourney

When Tim Cook took over from Steve Jobs at Apple, the world watched with bated breath. Jobs wasn’t just a CEO; he was a visionary, an icon, and a legend of innovative leadership. (more…)

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Entrepreneurs

The Leadership Shift Every Company Needs in 2025

Struggling to keep your team engaged? Here’s how leaders can turn frustrated employees into loyal advocates.

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Bridging the gap between employees and employers
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In workplaces around the world, there’s a growing gap between employers and employees and between superiors and their teams. It’s a common refrain: “People don’t leave companies, they leave bad bosses.”

While there are, of course, cases where management could do better, this isn’t just a “bad boss” problem. The relationship between leaders and employees is complex. Instead of assigning blame, we should explore practical solutions to build stronger, healthier workplaces where everyone thrives.

Why This Gap Exists

Every workplace needs someone to guide, supervise, and provide feedback. That’s essential for productivity and performance. But because there are usually far more employees than managers, dissatisfaction, fair or not, spreads quickly.

What if, instead of focusing on blame, we focused on building trust, empathy, and communication? This is where modern leadership and human-centered management can make a difference.

Tools and Techniques to Bridge the Gap

Here are proven strategies leaders and employees can use to foster stronger relationships and create a workplace where people actually want to stay.

1. Practice Mutual Empathy

Both managers and employees need to recognize they are ultimately on the same team. Leaders have to balance people and performance, and often face intense pressure to hit targets. Employees who understand this reality are more likely to cooperate and problem-solve collaboratively.

2. Maintain Professional Boundaries

Superiors should separate personal issues from professional decision-making. Consistency, fairness, and integrity build trust, and trust is the foundation of a motivated team.

3. Follow the Golden Rule

Treat people how you would like to be treated. This simple principle encourages compassion and respect, two qualities every effective leader must demonstrate.

4. Avoid Micromanagement

Micromanaging stifles creativity and damages morale. Great leaders see themselves as partners, not just bosses, and treat their teams as collaborators working toward a shared goal.

5. Empower Employees to Grow

Empowerment means giving employees responsibility that matches their capacity, and then trusting them to deliver. Encourage them to take calculated risks, learn from mistakes, and problem-solve independently. If something goes wrong, turn it into a learning opportunity, not a reprimand.

6. Communicate in All Directions

Communication shouldn’t just be top-down. Invite feedback, create open channels for suggestions, and genuinely listen to what your people have to say. Healthy upward communication closes gaps before they become conflicts.

7. Overcome Insecurities

Many leaders secretly fear being outshone by younger, more tech-savvy employees. Instead of resisting, embrace the chance to learn from them. Humility earns respect and helps the team innovate faster.

8. Invest in Coaching and Mentorship

True leaders grow other leaders. Provide mentorship, career guidance, and stretch opportunities so employees can develop new skills. Leadership is learned through experience, but guided experience is even more powerful.

9. Eliminate Favoritism

Avoid cliques and office politics. Decisions should be based on facts and fairness, not gossip. Objective, transparent decision-making builds credibility.

10. Recognize Efforts Promptly

Recognition often matters more than rewards. Publicly appreciate employees’ contributions and do so consistently and fairly. A timely “thank you” can be more motivating than a quarterly bonus.

11. Conduct Thoughtful Exit Interviews

When employees leave, treat it as an opportunity to learn. Keep interviews confidential and use the insights to improve management practices and culture.

12. Provide Leadership Development

Train managers to lead, not just supervise. Leadership development programs help shift mindsets from “command and control” to “coach and empower.” This transformation has a direct impact on morale and retention.

13. Adopt Soft Leadership Principles

Today’s workforce, largely millennials and Gen Z, value collaboration over hierarchy. Soft leadership focuses on partnership, mutual respect, and shared purpose, rather than rigid top-down control.

The Bigger Picture: HR’s Role

Mercer’s global research highlights five key priorities for organizations:

  • Build diverse talent pipelines

  • Embrace flexible work models

  • Design compelling career paths

  • Simplify HR processes

  • Redefine the value HR brings

The challenge? Employers and employees often view these priorities differently. Bridging that perception gap is just as important as bridging the relational gap between leaders and staff.

Treat Employees Like Associates, Not Just Staff

When you treat employees like partners, they bring their best selves to work. HR leaders must develop strategies to keep talent engaged, empowered, and prepared for the future.

Organizational success starts with people, always. Build the relationship with your team first, and the results will follow.

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Entrepreneurs

What Makes an Entrepreneurial Leader? Traits of the World’s Best Innovators

Inside the mindset of entrepreneurial leaders who transform risk, passion, and vision into world-changing results.

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When you think of Richard Branson (Virgin Group), Bill Gates (Microsoft), Steve Jobs (Apple), Rupert Murdoch (News Corporation), and Ted Turner (CNN), one thing becomes clear: they are not just entrepreneurs, they are entrepreneurial leaders. (more…)

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Entrepreneurs

Building a Business Empire: Lessons from the World’s Boldest Entrepreneurs

Learn essential lessons, success strategies, and mindset shifts every aspiring entrepreneur needs to overcome challenges and build a thriving business.

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how to build a business empire
Image Credit: Midjourney

Back in July 2017, I attended a business seminar on entrepreneurship in India. With my appetite for learning and meeting new people, I wanted to explore the latest developments in the entrepreneurial world. (more…)

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