Connect with us

Success Advice

3 Investments That Are Better Than a College Degree

Published

on

Image Credit: Unsplash

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.

Success Advice

If You Want to Lead, You Need to Read

Published

on

Image Credit: Unsplash

A common habit that extraordinary achievers, leaders, and CEOs seem to share is the habit of reading regularly. They find time to read books despite being busy with their regular activities and tasks. Bill Gates admits, “I had a lot of dreams when I was a kid, and I think a great deal of that grew out of the fact that I had a chance to read a lot.” Reading makes leaders. And reading makes people smart and wise. It makes them more aware and better equipped to achieve their goals and objectives. Here are innumerable advantages associated with reading.  (more…)

Continue Reading

Success Advice

How to Find Creative Solutions by Emptying Your Mind

Published

on

Image Credit: Unsplash

I’ve always been fascinated by how creative artists describe their process. Inevitably, they talk about being in a state of open mind where the download of core creativity can happen. I know painters who sit in front of a blank canvas staring at it and guitarists who will sit looking at the ocean, guitar at their side, waiting for an idea to appear. (more…)

Continue Reading

Success Advice

It’s Imperative That Women Take the Field And Find Success

Published

on

Image Credit: Unsplash

As a former Division I softball player, captain of multiple USA Women’s Rugby Teams, and an elite Aquabike athlete for Team USA, I’ve experienced more bumps, bruises, and concussions than I can remember. But that doesn’t compare to the challenges I encountered while bringing to life my vision: a revolutionary toy that celebrates girls’ and young women’s athletic identities. (more…)

Continue Reading

Success Advice

How to Develop a Growth Mindset: 7 Steps to Achieving Success

Published

on

Image Credit: Unsplash

Have you ever thought about what mindset you need to achieve success? Do you wonder what secret recipe you need to follow to reach lifelong goals? (more…)

Continue Reading

Trending