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A bachelor degree makes $541,000 more in life time earnings than an Associate's degree, according to your source. College costs on average $26K and $52K per ye
by rndgermandude 5y ago
A bachelor degree makes $541,000 more in life time earnings than an Associate's degree, according to your source.
College costs on average $26K and $52K per year[1] according to my google skills. 4 years of college therefore amounts to roughly $100 to $200K, which in fairness you have to subtract from that initial $541K difference. Still a nice difference.
However, the parent poster mentioned plumbers. According to my google skills again, a plumber makes $55,160 on average, compared to the $56,700 bachelor average. That difference is rather small, and a bachelor probably is worse off than a plumber once you factor in cost of education.
[1] https://www.topuniversities.com/student-info/student-finance/how-much-does-it-cost-study-us https://www.topuniversities.com/student-info/student-finance...
[2] https://money.usnews.com/careers/best-jobs/plumber/salary https://money.usnews.com/careers/best-jobs/plumber/salary
- namdnay 5y agoExcept that the plumber’s knees and back will be shot before they hit 50. People forget that “real” work is not kind on the body.
- jcims 5y ago$120k sitting in a fund earning 5% a year for 30 years will be worth $518k.
- rndgermandude 5y agoSure, and taking out loans for the $100K - $200K you need for college will also cost you more in the end, once you consider interest. The thing tho is that people who do not go to college quite often do not have $120K just laying around to invest for 30+ years. In fact a lot of people who go to college (or their parents) do not have that kind of money lying around either. And let's not forget that the people who do go to college and get that additional $500K can invest that additional $500K as well. Not as a lump sum either, of course.