Yamabushii
Green Belt
Irrelevant. I got a 2 year degree at an inexpensive community college, worked at that to pay for my BS at a more expensive university, worked at that to pay for graduate school. I walked everywhere, I ate the cheapest crap I could find, I worked multiple jobs, and I didn't party. To this day, I cannot eat Ramen; it tastes like poverty.
Yes, education debt is a problem. But at the same time, I've seen too many students working as (for example) a scribe in our ED who use student loans to pay for things like summers "studying" in Europe. Where they take one trash class and do a lot of tourist stuff. They eat out frequently, have the newest smartphones, and drive really nice cars. All paid for with student loans.
You can take on a mountain of debt, or you can make sacrifices and have little or no debt. Many of the people who complain about their student debt have also buried themselves in other debt. Because they just HAVE to have that new phone, or car, or a bigger house... they never learned the importance of delayed gratification.
I retired at 61. At that point, I'd been undergoing cancer treatment for 12 years, and just couldn't keep up the pace in the ED any more. We could afford to do so because we had long made it a point not to waste money on interest. Debt? We have a mortgage. We have two Jeeps and a Corvette, all heavily modified, and all paid off. Credit cards? We have them, mostly for the benefit to credit scores. But we never carry a balance. Never. Other than the mortgage we owe nothing to anybody.
Before you tell me that it is no longer possible to do this, I will just say that all ten of our kids went to college. One has an engineering PhD. Another an MS in Math. Another a Masters in Public Health. One is working on her MS in Education. Three of them got two year degrees and two of those are using those degrees (Radiology) to pursue a BS; one in CT and one in MRI. None of them took on a pile of debt.
Sounds like you've lived a pretty successful life. It's one thing to do it for yourself, but another to be able to successfully instill that into your children as well.
*Edit - I forgot to add that while I still wholeheartedly commend you for your hard work, my question regarding how long ago that was is very much still relevant. Granted, from what you've explained, you didn't waste a money as you kept your sights steadily on what mattered most. That will certainly help anyone no matter the era, but how much it helps is certainly a factor as well.To discount today's inflation-ridden economy as a major factor in impacting our lives is a skewed perspective. I remember back in '93, my father bought a 5,500 sq. ft. home on a 3-acre property for $235k. Mind you, this was only 30 minutes away from NYC. He was probably making somewhere between $250-$300k in annual salary at the time. For my day job, I'm in the same line of work today as he used to be back then and I don't make close to that much. Even if I did, consider that at his time, his annual salary was enough to pay off his house in 1 year, whereas today that same house in that same area is likely going for about $1.5m today.
I do get your underlying point that keeping your spending limited while keeping your eyes focused on what matters is key, but I simply wanted to add in that we live in a very different, cutthroat economy today. Everything is expensive. Most people can't afford to live comfortably off one job. Job wages haven't changed much in 30 years other than some states increasing their minimum wage, but that doesn't affect the shrinking middle class, and it's also leading to less employees being hired for lower end working-class jobs. This is also affecting many martial arts schools as their own costs and overhead are also increasing.
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