Before Your Clients Write that Tuition Check……

Now is the time of year that many clients are turning to you for advice about financing the jaw-dropping price of college tuition. Study after study confirms that a college education—one of the biggest legal rackets in America today--is still worth the price of admission and stress. But, several of our clients have been telling Forbes, US News and other national media outlets that wherever your child or grandchild attends, it’s important to get a well-rounded education, not just the prerequisites for a high-paying career.

Bottom line: Take courses that actually make you think, write communicate and create. That’s the only way to be adaptable in a constantly changing world.

Mark Rioboli, CFP, CFS  Director of Wealth Management at Independence Advisors  (Wayne, PA) said universities should take a page from Ben Franklin's book and focus on those things that make students “healthy, wealthy, and wise.” College curriculum should consist of nutrition and fitness training “because without health, you have nothing.” Rioboli also told me critical thinking, project management and sales skills are valuable in any career one chooses.  

Anthony Glomski, founder of Los Angeles-based AG Asset Advisory and author of the new book Liquidity and You: A Personal Guide for Tech and Business Entrepreneurs Approaching an Exit agreed. “When speaking with (and recruiting) young graduates, I’ve found their basic skills are not as far along as I’d like to see, especially reading, writing, organization, and attention to detail. Any degree that emphasizes those skills will add a lot of value in the job market. In a world in which everything is driven by artificial intelligence, the one thing we know that is irreplaceable is the human connection. Degrees that help student develop traits that strengthen human connections are going to be value in their careers,” added Glomski.

Blake Christian, CPA Partner at HCVT in Long Beach, CA said a student’s focus for the first two years should be on “a solid foundation that will help him or her regardless of major--basic finance, accounting and budgeting, for example. Who doesn’t benefit from those skills both personally and professionally?” asked Christian. He is also a strong advocate of business and technical writing, along with verbal communication. “When it comes to writing a business plan, even liberal and creative artists will have a more solid financial footing with a class or two in these subjects,” maintained Christian, author of the new book, Benefits of Becoming A CPA-Preneur.

Glomski, an undergrad accounting major, said he benefitted greatly from the liberal arts courses he took. For instance, “philosophy went really deep, which helped me in developing personal relations. Economics and other social sciences will always be applicable and accounting was invaluable. Sure, accounting is becoming increasingly automated, but it’s priceless training learning how to understand the mechanics and backbone of any business,” Glomski related.

Before junior year, Christian strongly recommends that students do an internship in their chosen field, along with an aptitude tests and counseling to ensure that the student “really wants to go down that path and has the general skills and drive.” 

“How do you teach wisdom?” asked Rioboli. “I suggest starting with meditation and all the principles in emotional intelligence 2.0 by Travis Bradberry, Travis and Jean Greaves.”

Also consider Top 10 Life Advice Comments for Millennials by our client, Matt Topley, chief investment officer of Fortis Wealth in Valley Forge, PA.

Conclusion

Glomski said adaptability is the key ingredient for career success today. “It’s likely you’ll get of out college and be in a career for five to seven years, and then you’ll be in a completely different career. What prepares you for that?”

#college tuition #careeradvice #liberal arts #tuition ROI 

Anthony Glomski, AG Asset Advisory, Blake Christian, HCVT, Mark Rioboli, Independence Advisors, Matt Topley, Fortis Wealth