Leveraging Education

Many of us were taught as young children by our parents or guardians to go to school, get good grades and get a good job.  Typically there is nothing wrong with this advice, but I would like to show you something.

According to the US Department of Education in 2008 the average annual salary for a male high school graduate was $32,000.00 and a male college graduate (bachelor’s degree) was $55,000.00.  The numbers for female graduates was $25,000.00 and $45,000.00 respectively.  This means on average there is a 72% increase in the income of males if they graduate from college as opposed to simply finishing high school.  For the females there is a 80% increase. 

What does all of this mean?  Obviously, we have to exclude the entertainers, athletes and the college drop outs that are currently rich – this is a small percentage of the population in America and even smaller percentage when factoring in the rest of the world.  Here is what it means?

First, push through the tough four to five years to gain your undergraduate degree.  Obviously from the numbers presented here you will do better financially if you persevere. 

Secondly, it means that by the time you are 60 years old you would have earned well over a million dollars.  Say what?  Based on the average salary of high school graduates males would hit the mark in a little over 31 years and females in 40 years.  College graduates would hit the million dollar mark in less time (18 years for males and 22 years for females). 

That means you are either a millionaire now or you are a millionaire in the making!

The Best Opportunity Is Now

It has been said that, “character is developed through the trails of life.” This is a true statement. In like manner, I would like to submit to you that, “business opportunities are sweetest when the financial climate is at its worse.”

Let’s take a look at what is happening in today’s financial climate:

(1) Banks are attempting to bail out many homeowners who are overextended.
(2) Economists are predicting their will soon be a tsunami of home foreclosures.
(3) The government is spending a great deal of cash to get the economy to turn around.
(4) Eighty one banks have failed so far this year.
(5) There are 150 – 200 more banks expected to fail during this banking crisis.
(6) Banks may have to set aside 25% of their profits in 2010 to pay for these failed banks.

With these conditions affecting the market, it is the best time, in my opinion, to launch your business. When we look back in history, financially depressed environments have always created new business opportunities and the next generation of millionaires. Some companies and individuals prosper during recessions. You might have to re-think or re-create yourself but prospering during these tough times is possible.

Could the next generation of millionaires include you? Of course it can, but you have to be in a position for this to happen.

Allow me to assist you with discovering the best opportunity for you. Send me an email at info@frederickotowles.com.