Is a college degree worth it when it comes to eventual FIRE?

IMO, if employers don't want you without a degree, start your own business.
It takes money and experience. Neither of which I had. I don’t know how to start a business without money. I wished I had money then so I could start a business. And, it takes an idea, a vision. I didn’t have that, I had zero idea how to start a business from nothing offering something people need.

I still don’t have that vision. If I did, I would.
 
Sure, as long as you are smart about how to pay for it.

My kids all used the military, primarily via ROTC scholarships.

Though one kid re-applied & moved on to a service academy.

Where they pay the students, so they can start Roth contributions while still in school.

But for one the original plan was to move to another state & join the National Guard.

Before enrolling in that state's flagship public university.

Since, as in many states, joining that state's National Guard covers tuition at public schools.
 
I'm sure glad I went to the Naval Academy. I needed the discipline as I was a drunk idiot in high school. I would have probably died if I went to a regular college (even ROTC).
 
A degree or certificate....whatever is really just the start.

It comes down to what you make of it. Moving forward with your life. Being able to take advantage of opportunities. Accepting challenge. Balancing risk with reward. Understanding change and embracing it. Having the will to change change carreers if you are not happy.

Personal attributes, ambition, work ethic all play a part in the outcome. So many variables besides what if any post secondary one selects.
 
My college degree was required for my job in the actuarial field, although passing actuarial exams was more important initially.

I began college majoring in Comp Sci in NYU's arts and sciences school. But I switched to NYU's business school in my second year then switched to majoring in Economics in my third year, the latter because I didn't really like the direction the Comp Sci curriculum was heading.

I graduated Magna Cum Laude and got a job in the insurance field. My employer liked me because I wasn't their typical math/stat major. Instead, I had a broader business background with strong computer skills, the latter valuable in the mid-1980s when having my mainframe programming skills were very valuable in an actuarial department. The foundation for those skills came from attending college in the early years when I was a comp sci major.

I was basically the "big fish in a small pond," a good position to be in throughout my 23-year career. I passed only 2 actuarial exams and none after 1986. But I had made my mark with my programming skills in an actuarial department where those skills were highly desired.

All of this, along with LBYM, led to my eventual FIRE in late 2008. The college degree was a crucial part of it.
 
A degree or certificate....whatever is really just the start.

It comes down to what you make of it. Moving forward with your life. Being able to take advantage of opportunities. Accepting challenge. Balancing risk with reward. Understanding change and embracing it. Having the will to change change carreers if you are not happy.

Personal attributes, ambition, work ethic all play a part in the outcome. So many variables besides what if any post secondary one selects.
I believe the attributes you mention are the keys, while a bachelor's degree can even be picked up along the way by someone with those kinds of attributes: ambition, work ethic, willing to take some risk, embracing change, etc.

My first wife and I were opposites (go figure). I left college with a degree in a high-demand field, did okay but I never have been truly a hard worker, lacked ambition, and was (and still am) very risk-averse. I was once wooed by a then-startup that is now a well-known tech giant, but I didn't jump ship because I feared the unknown. She, on the other hand, with no college degree, started working as a cashier for a retailer, worked her way up, got a BS through evening classes, followed a colleague to a startup, and ended up comfortably RE.

For me, the degrees were crutches that allowed me to limp through a couple of professional careers. For those who are driven to success by their personal attributes, the degree is secondary, and it doesn't even have to be "just the start"--it can even come later for someone who has the drive.
 
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A college degree is a dime a dozen these days. Doing the traditional 4 years, live in the dorms, drink too much, etc... is likely a waste of money though it was a great time from what I can remember. However, starting work right away and doing an online degree, part-time, seems like a great way to go. You get a degree if any future jobs require it, you learn something, and you are not a social outcast in some circles.

Having said that, I am a big proponent of military and/or trade schools for most people!
 
I simply think "kids" (and their parents) should carefully assess their interests, capabilities and options when it comes to deciding how to proceed with education and w*rk. Simply saying "you need a college degree" is no longer a valid first principle. There are way more options available and there are many roads to a happy w*rk life (and subsequent FIRE if one so desires).
 
I beieve that the real question should be 'what did you do with your eductation and how did it move your forward financially, career wise, and personally.

I know people who did very little with their university education. I know others who used it very successfuly to move forward in their personal and business lives.

I absolutely do not believe that there is a one size fits all rule or measure. Too many variables.

If only, what ifs, coulda ,shouda, etc is for the rear view mirror. The real question is the here and not, years later. What did one do with their edu, training. Different answer for everyone.
 
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The question "college>ER" is kind of missing a whole lot of steps in between, all of which can alter the path.

So, sure, a degree, in general, helps most people most of the time to land a decent job vs. slinging burgers. But it doesn't mean ER.

That can entails choice of partner, where to live, size of family, actual career, networking, advancing, and making smart - and lucky! - savings decisions along the way, etc. A million things can mean any person starting from point A can get there, or not. Or someone starting with no degree who does.
 
My degree helped propel me to ER. I worked for 15 years after junior college engineering before going back to school in 1990 to get my BA in business.

I graduated in 1992 within a month of becoming part owner in our company. I was the only partner in our firm with a business education, so I put my business education to use for the next 20 years, paving the way toward retirement in 2014. The business education boosted my financial knowledge a lot.
 
Fifty years ago, college degrees were much less expensive, and if you chose a tech/computing area, the jobs were going to be plentiful. Today, college degrees cost lots more and many jobs will soon be handed to AI. Maybe a degree is still worth it now if you'll work in the area of AI, which is likely to expand for decades to come.
 
My college degree was absolutely the magic ticket for me. I studied physics and mechanical engineering which landed me me a fascinating career at a US national laboratory. I was able to retire at 55 with a generous pension.

My degrees in 1974-1983 were definitely worth it to me. I left college debt free. I’m not so sure about the value of a college degree to today’s prospective students. They have to be very careful about their choices of studies and the cost. I’ve never believed college was the best option for everyone and hated the promotion of college for everyone. The trades are a fine career path, then and now. Some people do very well in the trades.
 
I was too busy earning a living to go to college but I had no problems competing for raises as a systems analyst and then software test engineer at a couple of Seattle area megacorps. I always thought my HS "degree" from the late 60's was about as good as a college degree 30 years later plus I had 30 yrs experience.
 
My Megacorp had rigid requirements for degrees for advancement and even for empl*yment. I knew folks without degrees who knew a lot more about chemistry and engineering than those with the degrees, but without the degree, one was on a whole different advancement track. One could excel without a degree, but it was more difficult and took longer. Much as I valued my degree personally, I always admired those non-degreed folks who could run rings around most of us degreed folks. It was the difference between the theoretical and the practical knowledge. One could have both, but if I had to choose just one, I'd go with practical when it comes to getting the j*b done. YMMV
 
My high school drop-out mother was pretty smart. From when I was very young, she kept messaging me about the value of education and that I needed to be either a doctor or, dentist or lawyer. Constant messaging about education and being independent of the vagaries of corporate life.

I was rebellious, so instead got my Ph.D. and MBA, and figured out a way to monetize that combination. Of course, hanging out with highly educated and driven people places one in a position to meet a successful future spouse. My wife and I both got our Ph.D.s 45 years ago and are immensely enjoying one another and our well-funded retirement.

+1 on the value of college.
 
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Depends on what you want to do. Some paths require a degree, others don't. Example: Engineer. Final position was product marketing manager for a fortune 100. Not attainable without the degree.
 
"According to new data from the Federal Reserve Bank of New York, the median annual wage for a full-time worker ages 22 to 27 with a high school diploma is $30,000. For a full-time worker with a bachelor's degree, it's $52,000." This from a 2022 article, The Wage Gap Between College and High School Grads Just Hit a Record High
I had another question and the article concluded with the answer, "The gap only widens over time: Mid-career bachelor’s degree holders earn between $43,700 and $111,000."
There is more math that needs to go into this, Does the extra income overcome the 4 years in school vs 4 years working generating an income, and does it overcome the cost spent on 4 years of college.
My wife and I made it to at least the top 5% with just HS, and we were able to pay for our kids college and even an advanced degree. They should do great, one is, one, yet to be determined, a high earner, but net worth is going into a house for now.
 
I didn't see the OP's college major. Was it Electrical Engineering or Physics? Then 'twas likely worth it. STEM degrees in general, provided you take a job that requires it...
 
My college degree was absolutely the magic ticket for me. I studied physics and mechanical engineering which landed me me a fascinating career at a US national laboratory. I was able to retire at 55 with a generous pension.
My thoughts exactly. I attended a top-ranked state school, pursued a STEM degree, and graduated with highest honors. That specific combination enabled me to get a job with a small company in my hometown that was affiliated with my university, and it was that set of circumstances that led (7 years later) to my "home run" job with an Internet startup that eventually enabled me to FIRE.

Of course, there's no way to know in advance which specific degree from which specific school will eventually lead to a blockbuster career that will supercharge one's journey to FIRE. But I still think that, statistically, earning a STEM degree from a low(er)-cost state/public school—and graduating with honors—can provide a significant FIRE boost for those who are interested in it.
 
I suppose if you sell a lot of books you can make a nice living!
I got an advanced degree in a field that some on the forum might associate with English lit and art history: journalism. It was a feast-or-famine business when I got started, certainly worse now. But I did well enough to retire at 59. I would have stayed longer if the technological shifts hadn't been coming at every turn. I was paid well, and my career was fun and interesting.
I occasionally read about people who are counting down the days until retirement by the time they turn 35. I can't imagine digging myself into that kind of rut.
 
But I still think that, statistically, earning a STEM degree from a low(er)-cost state/public school—and graduating with honors—can provide a significant FIRE boost for those who are interested in it.
Having the intellectual aptitude and discipline to rank high against one's peers is a turbo-boost....
 
College is just a stepping stone. It would help but not necessity. Some people can jump, they don’t need every stepping stone to get through. But for most people they don’t know what they need and don’t need in their future. So better have it when they are young and have the luxury to go.
 
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