Do you think people are deceived about traditional methods of wealth?

[jennifer_bloom]

I read today that the median 10 year income for all top schools and Ivy leagues in America, never exceeds $130,000, this includes Harvard and Yale. I also know people who do not get degrees til past 30 that make millions within 4 years with a business. My dad knows a business owner whose son got a PhD or post doctorate that has not had any type of job for years, not even McDonald’s will hire him. His dad has over a thousand highly educated friends through his business network but cannot find a job for his son.

[MrOracle]

Tons of people are delusional about advanced education in general. Almost 2/3 of college degrees are for fields of study that aren't likely to result in significant income and yet people are encouraged to go into debt to get that degree - because the colleges need that money to push their political agenda.

The G. I. Bill allowed people who were not rich and were not at the top of their class to go to college en masse, but at the time, liberal arts were limited and most were commercially focused, such as graphic design. But the colleges got a ton more money and were able to expand in size and influence, so they hatched a plan to expand further and offer more liberal arts to encourage EVERYONE to go to college, with little concern for the people who would not be financially better off. They then pushed to expand student loans, so they could constantly increase tuition to insane levels.

In 1970, a person working a minimum wage job could pay for 2 semesters of a state college by working 6 weeks, 40 hours a week, at their minimum wage job. Today, you would need to work 43 weeks. That's how much faster tuition has grown in relation to income.