Listener Question: Saving for My Kid's College #025

Career Paths

The evolving job market is prompting a reevaluation of traditional career paths. Joel Larsgaard and Matt Altmix highlight the increasing value of skilled trades, which often offer lucrative opportunities without the burden of college debt. They emphasize the importance of considering alternative paths, such as learning a trade, which can be more financially rewarding than some college degrees 1.

There's lots of money to be made right now in blue collar careers and people that are skilled laborers, good with their hands, that have people skills.

--- Joel Larsgaard

Additionally, they suggest investing in enriching experiences for children, like travel and cultural activities, instead of solely focusing on saving for college 2.

   

College Value

The value of a college education is increasingly debated, with Joel and Matt questioning its necessity for all career paths. They acknowledge that college can provide direction and valuable life skills, but also note that many successful careers do not require a degree 3.

The relationships, the people that you meet and all the sort of personal things that you mentioned, too.

--- Matt Altmix

For those uncertain about their children's college plans, they recommend maintaining flexible investment strategies that don't solely rely on 529 plans 4.