Warren Buffet shocked many observers when he revealed in a recent interview that he thinks that college is bad idea for many individuals. In this age of making money onlinehe argues that it's perhaps better to invest money in yourself rather than in expensive college fees.
So what else did the investment guru reveal during his short but candid interview with Yahoo Finance?
Buffet began the interview by affirming that, "by far the best investment you can make is in yourself."
It's hard to argue with his logic. With students graduating college in America with an average debt of $38,390, many have sort alternative routes to further education.
Where some students have spent $150,000 on an Ivy League education, other individuals have paid less than $1,000 in online courses that have seen them launch six-figure online businesses in the space of a few short months.
He also correctly points out that there are plenty of high-paying jobs available that require no traditional college education. Plumbers, electricians and HVAC engineers all take home salaries in the $70,000-$80,000 range.
When you take into account these jobs do not require an upfront investment of nearly $40,000, workers in these industries are able to achieve milestones such as owning their first home far quicker than their academic counterparts.
As a skill, Warren Buffet values effective communication above all others. He stated, "If you just learn to communicate better, both in writing and in person, you increase your value by at least 50%."
A striking figure for what so many people see as a soft skill not worth spending too much time on.
But it appears that many agree with his assessment, with a recent survey of leading employers uncovering that great communication skills were top of their list of sought-after abilities for new hires.
By being able to effectively communicate,entrepreneurs are able to better pitch their products and high-ranking employees are better-able to distill complex financials into simpler terms that board members can understand.
Buffet likened our body to that of a new car in the interview.
He said that if you were to receive a brand new car whilst being told that you only get one of them to last your entire lifetime, he argued that you would fix even the tiniest of scratches straight away, spend hours poring over the owner's manual, and carry out maintenance whenever you had a spare moment.
He argues our bodies are much the same.
You can't suddenly start to look after them after "owning" them for more than 50 years already. If you were to do so in the car scenario, it would be so full of rust and require so many new parts that it would effectively become a new car entirely.
This is a luxury that humans don't yet have.
Regular exercise and consuming a healthy, well-balanced diet should be top of your priority list whether you are a business owner or employee. How you look after your body now could have far-reaching consequences in the years to come.
Studies have in fact shown that healthier employees are able to work longer and take home higher incomes, so it's definitely worth heeding his advice.
Buffet firmly believes in the old adage "your network is your net-worth", encouraging others to "always associate yourself with people who are better than you are".
He argues that you can't help but be guided by the people that you surround yourself with, and if they excel in life, then they'll likely drag you up with them. Your network should consist of individuals that you want to emulate, so choose your role models wisely.
But surrounding yourself with people better than you presents other opportunities beyond simply elevating your social status.
Perhaps your newly-found peers can open a few doors for your burgeoning business? Or maybe they can help you to land a job at their prestigious firm through an internal referral?
Either way, progression awaits you.
On the other hand, if you always associate with people who are behind you on the ladder of life, then it's likely that you are eventually going to be dragged back down to their level, regardless of whether you consciously allow that to happen or not.
In short, no.
That is not what Warren Buffet meant when he said that college isn't necessarily worth attending.
He defines the choice of going to college as "totally dependent on the person and their situation." For example, if you aspire to be a doctor, then you have no choice to but attend college in order to gain the required qualifications to enter medical school.
His point referred to the fact that many people go to college when it's not the right choice for them. Perhaps they do so either because they succumb to peer pressure or because they feel that, at the time of making the decision, it's the right path to take.
As Warren Buffet rightly pointed out, in this digital age, they are many instances when college cannot provide the right platform to learn more about a certain industry, such as investing in cryptocurrency.
The best places to learn about these up-and-coming investment opportunities are primarily online.
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If that whitepaper whets your appetite for investing in cryptocurrency, then don't hesitate to get in contact with a member of the Cryptolico team. We are always available to answer any of your questions regarding cryptocurrency and we look forward to hearing from you.