Is your education worth half a million dollars?

First of all, let me share my biases with you right upfront:

  • I am not a parent
  • I have 5 university degrees
  • I have invested over $150,000 in my formal and informal education
  • I have read over 1,000 business books and over 5,000 academic and journal articles

With all that, I also can tell you that parents like to over-spend on their children’s education, just like people prefer to spend thousands on diamonds when artificial diamonds cost a fraction of the price and THE NAKED EYE CAN’T TELL THE DIFFERENCE!

A recent blog post on the costs of Australian Education brings this point home…

I see it all the time – with a $29 product to help students get the best grades with the least amount of effort – people won’t make the investment even if it’s only $29… But they spend TENS OF THOUSANDS for tuition, accommodation, etc.

Go figure…

I know what this does to parents. I have them as business clients. They have to earn $2 for every $1 they spend on their kids’ education. That means for each child, that’s +/- a million bucks/child. Frankly put, that’s mostly money flushed down the toilet. But of course you can’t tell a parent “junior’” is not the next Einstein…

So there you have it – the raw, unedited reality. Education is like any other investment – it deserves a proper Return On Investment (ROI) calculation.

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