Very true, I think to many kids today (especially back in my day) put their identity into studies. I do think that is destructive. Better to put your identity in something else, sports, military, art, whatever. I know a lot of people who kind of identified with their studies. This whole idea of bs, ms phd etc.
I think the real reason so many people go to college is because most businesses would have excluded them from the hiring process if they didn't go to some form of college. You always see that question on the application "level of education". If you don't say you have a degree, you are immediately eliminated from the hiring process. I just feel bad for the younger generation that was forced to go through college for employment opportunities that could have been learned on the job. What's worse is how jobs like physical therapy now require a DPT degree, but the job only pays 90k. That's a perfect example of colleges raising education requirements for jobs that are in high demand.
Totally disagree. Most jobs that say a degree is required are bluffing and you can still get the job by having other forms of experience and credentials. Its no different than when a woman on tinder says you have to be 6 ft tall, its a fake requirement that can be broken with other traits.
Start your own biz, fool! I did and made 1.6 mil gross income last year and over a mil each of the past 5 years. My personal/net/taxable income is over 220k a year. I’m only 30. No college
and he's not completely wrong. 70% of college students would be better off if they just had one year of someone holding their hand and "networking." (This by the way is what schools like Harvard do, they always check on their students, make sure they have all they need, hear them, help them, respect them, etc. etc.)
I can confirm that most of my high-school classmates who didn't go to university were far more successful than I who spent 7 years studying at 3rd level🤣
I agree. Besides, college tends to bombard you with classes that have nothing to do with the major. And that only further reinforces the fact that its a waste of time.
@@TravisMcGee151 Piss off, man. I don't need your sarcasm. If I need surgery, I will go to the freaking hospital. We all have our own goals we want to accomplish. But if college is going to waste my time with classes that don't relate to the major, then I rest my case; its a waste of time.
@@TravisMcGee151 right these people are idiots who think college degrees produce accountants and Shit. College educated people made the phones you use, the treatments you need, they put men on the moon. People take life for granted that they forget the people who make and analyze everything that they used. You wouldn’t even have food at the table without college educated people.
Youth today would be FAR SMARTER to get a high demand trade. Electrician, AC tech, plumber, mechanic. The world really DOESNT need a kid with a degree in "gender studies" LOL
College, for the most part is the lazy thing to do. You got a remember most of these adults they’re not kittens. Many of them are almost 30 years old. Only go to school about 32 weeks out of 52 weeks in a year. They have 20 weeks off during the year they loafer around most the time do nothing pretend to have a part-time job takes student loans that half of them never pay back borrow money from family and your parents. It’s a whole thing is absurd. I have no idea how the system got set up like this
I never went to college, I bought a lot of real estate properties still in my 20s, (worked/saved/bought/ Refinanced/bought more/refinanced more)If I would go to college I would still be there going in circles from 1 jab to another and would have to pay my student loans till my late 40s
Most people today don't go to college to get an education, they go to get a piece of paper because they believe that the piece of paper is their key to a good job. Out of college they find that their piece of paper is of little help because they can't string together coherent sentences, they can't solve problems, and they have little understanding of simple principles of econ, business, communications, etc. For those people, college is a waste of money.
Good call guys! If you want to be successful, study success. If you want to be an employee or have nothing better to do with your time and money go to college. Half my time spent in a classroom was wasted.
There are jobs, like being a school teacher, that require an BA degree. Now getting a BA in Education is a cake walk, but necessary. Other jobs also require a BS or BA, but so many do not and I have friends more educated than most college grads, but they educated themselves with reading and mentors, etc.
Except for that little problem of corporate employers requiring degrees to get no experience jobs. If I didn't need the piece of paper, I wouldn't have gotten it. But they conveniently leave that fact out, because then the blame for degree inflation would be on them not some kid.
The thing is, on average, college curriculums are supposed to teach you to think and analyze in your particular field. To solve problems quickly in case things don't go smoothly. They also synchronize your mindset with the already established workforce. IOW, the employer doesn't have to spend money to train you and weed you out of a "specialty". You have to pay colleges for that, and of course, take a bunch of requirements you may or may never use.
Yes. Elon Musk says he don’t care about college degrees. Apply for a job at Space X. They ask which engineering school did you graduate from. You say I never went to school. Next one. Look at what people do, not what they say.
I attend Grand Canyon University for my masters degree in early childhood education. I’m struggling mentally, and emotionally. College is just a waste of time and money. And I’m dealing with student debt.
Drop out of that pos school asap and go to your local community college to start out. Community is much cheaper and more friendly to those first starting and prepares you for your later years. Also, GCU is a shit school. While it is accredited and “cheap” compared to other traditional schools, It is a for-profit university meaning the heads of the school are more concerned with the money they make from you going there than the education you get out of it, which is why their programs are shit. In .my experience it seems most of what you get out of going there is partying. I visited a friend of mine who goes there and I don’t even know how you would be able to focus on your school work there lol it’s 90% amenities/housing. GCU is a shit school that baits you into going because of the things to do on campus and its location. Drop out asap!
Also, change your major. You wanna pay 5-6 figures tuition to be capped out at 40k? Look into the STEM fields, medicine, accounting, IT, etc. Education today especially at that level is just glorified babysitting.
@@joshtoncray9882 I’ve completed my bachelor’s degree in 2022. It was the most horrible, and problematic experience I’ve ever encountered. Unfortunately, I didn’t learn anything at GCU as an undergrad online student. I did enrolled for my masters degree in ECE last year. And I’ve withdrawn from the school, because it was giving me so many problems. One woman told me that when she was attending GCU for her doctoral degree, she told me she was running into a lot of issues and the bad experience she was having there at GCU. She also told me that GCU was more like a party school. And the instructors would be drinking up until 10pm. And they called themselves Christians smh 🤦♀️. 50/50 chance I may go to a community college. But I’m going to do a payment plan, because I’m 42k in student loan debt.
I like Warren Buffett and his partner, but there are many elite folks in our society who basically say the same thing, including Zuckerberg and Elon Musk, not to mention Gates and Jobs who both dropped out of college, but the slightly hypocritical message here is that all of these affluent people went to absolutely elite institutions of higher learning to essentially be introduced to people such as Benjamin Graham, in the case of Warren Buffett, as an example. The point of college is not necessarily to get a degree, because people can go online to get fake degrees and transcripts if they really wanted to. For some kids, going to college is basically taking a 4-5 year expensive vacation, and the solution to that is for them to instead apply for a US passport and travel the world for a fraction of the cost of going to college. For the actually bright students who want to become physicians, pharmacists, engineers, economists, educators and whichever other profession that requires a college education, they need to find more cost-effective options, including online education, but the concept here again is to make connections during their time in college. You can think of college as an expensive and extended cocktail party, where different types of people try to convince of how to lead your life, including liberal professors or other students from conservative backgrounds.
When you come from the bottom-most rungs of society where learning is not prized not mentored naturally by those around you, college is about the only accessible place (if you can find a way to pay for it) to expand your perspective. An education in business through college was infinitely valuable to me given that I came from an environment where I had no one to teach me how to get ahead in life. I suspect this isnt an uncommon story among many aspiring undergrads who concluded college was a pathway out of ignorance and lack
College is not necessary to succeed. Information, intelligence, worth ethic and a good reputation will suffice. I've met many derelict college graduates. I've met many successful high school drop outs.
All you’re doing is justifying your degree, most college grads do this. In a world where all information is available to you with a simple library pass, college is obsolete, save for the few jobs that require it such as doctor/lawyer/engineer/teacher.
I looked up the tuition for Fordham University. It's $70K / year. That's almost $300K for 4 years. That's crazy. Imagine what happens if you invest that $300K instead. Go to a CUNY school for $4k / year. If you want to be a surgeon then by all means go to Harvard, it will be worth it in the long run. But for god sake don't go to an expensive school and major in English Literature. Also with online learning I think the days of these ridiculous tuitions is over.
I never seen any high paid colleges to provide knowledge of eligibility of bank loan, acquiring good assets with liabilities, different business models which we normally learn today from UA-cam or some existing entrepreneur/business men. It is designed to create labour workforce
Nope ... like anything else, some college is an expensive waste of time ... but far from all experiences. I call Buffet's statement a manifestation of "the arrogance of wealth" ... I believe it stems from having an audience that hangs on your every word ... primarily because you're super rich. If you're a billionaire, you can make dumb decisions, ride through them, and no one is the wiser. We'd be in the stone age if ALL of our learning experience was not augmented by a formal grounding in the state of the art (college) ... it allows you to push the limit and advance society ... Warren Buffet also benefitted from those same advances. I can credit the college experiences for giving me the critical thinking skills to form my own opinions ... instead of taking some rich guy's word for it.
Yeah you're right, but that was before Internet, now there are some areas you can learn without going to college, times changes, change is the only constant, horses were fundamental for transportation, now we have cars
I got an associate degree in applied science, it took me two years and cost $24,000. I immediately got a job in civil engineering after receiving my degree from the tech school. I make $80,000 yearly off that 24,000 trade school degree. Well I did, I just joined the Army.
This is true if you actively self learn, if you screw around on facebook or tiktok all day and think you can hiphop your way to success, good luck. By self learning, I mean science, coding and the like, not useless things like entertainment.
If you are aimless you will wander nowhere and depend on luck. You need leadership to guide you. Those leaders are initially professors. Then employers guide you after that in specific "real life coursework". If you are like Mark Zukerberg, Bill Gates, etc. you quit college and become a billionaire. These are rare. Unfortunately, most people who skip college think they can be like them while using Facebook and XBox instead of making these things.
The only degrees that are worth anything nowadays are physicians, nurses, anything in the medical field or a trade degree. Everything else you’re pretty much just pissing in the wind.
Does Berkshire Hathaway hire young adults for promising careers without college degrees? What kind of degrees are they interested in? Do they train people on the job?
I would be retiring or working less in 5 years and I just want to know best how people split their pay, how much of it goes into savings, spendings or investments. I earn around $165K per year but nothing to show for it yet.
you're not alone, i'm part of the High Earners, Not Rich Yet (HENRY) not having much left after taxes, housing, and family costs.. not to mention saving for an affluent retirement.
Take a look at Dave Ramsey. He has made many working people millionaires on a lot less money than you are making. Check out his You Tube channel. Not the way I did it. But it is a sound and proven process.
It's called the fallacy of composition. Just because college degrees worked for smart, motivated people when they were an elite minority and academic standards were high, that doesn't mean it'll work for every slob who majors in comparative basket weaving and gets drunk every weekend.
This is so true, even engineering has become very saturated IMO, I am a manufacturing engineer, sure, that has never been so sought after, but still. I think even Software engineers are in trouble.
In this video, Warren Buffett does not say that "college is an extremely expensive waste of time." His and Charlie's comments were much more nuanced than that. Don't be a fraud yourself, anonymous video poster.
This is bs. I have never regretted getting my degree from college. I have always been able to secure a job interview with the degree. The reality is opportunity, every job interview I have had, I got, with the degree. You can be successful, with or without a degree, but to say it is a waste of time, I totally disagree.
People are taught go to school then go to college or university and then get a job. no one is ever taught how to make passive income . Just think you will be working for someone all your life . Most wealthy people know you need to be an investor or a business owner to be financially free. I have passive income streams apartments rentals teants pay my mortgage. And I use the leverage and buy a different business. . I was never taught this in school learned it buy reading Richard poor dad . I learned more in that book then all my years in school😅😅. Rich people have more than 1 income streams mean while everyone else just wants a pay check. You are the most taxed as an employee……..if more people studied the tax codes or the business laws you will be far more wealthy. The rich know the difference between good debt and bad debt . Employees are the most taxed income . Business owners are the least taxed , and a investor that puts money in e stock market pays 0 taxes I learned more about money just buy learning the tax codes and business and learning about real estate investing 😅 then all my 4years in high school. My family friend has a car wash business and a tile business it might not look like he is rich but this guy is a millionaire. He has real estate properties as well . Like rental properties. Most rich people try not to draw to much attention to them selfs. They try to look normal.
I think that this video title is somewhat misleading. I think they are saying that college costs have gotten out of hand. Warren Buffet went to college. In fact it seems that he met his mentor there. So if he hadn’t gone to would he have become the investor he became? More to the point, would he have had the skills necessary to make something out of investing? Sure it is possible to self-educate, in fact, it is necessary. College still makes it easier, just don’t spend too much on it. Find your teachers.
I think both of these guys benefited from college. I think Ben Graham was a college prof. It is overly popular to talk about how useless college is. They find bartenders with masters degrees and then talk about Bill Gates and Mark Zuckerberg being billionaires without a college degree. Like this proves their point.
Or people, who never went to medical school, doing heart and brain surgery? Or a nurse who never attended nursing school, administering drugs into your IV bag? 🤣
I work at State Farm in the claims department and make six figures. My dumbass went to college and I could've been doing this job right out of high school! College is good for STEM majors only in my opinion.
But you still have to prepare for life and earning a living. Why isn't education of any value to young people who are at the very least attempting to prepare for their future earnings and income. And if Education is not of value then what is? To be honest, for years I studied and learned and groups criticized me along the way and when I got out and decided I had to use my education to earn a living... nobody wanted the education I had... they wanted me to RETURN TO SCHOOL and get education that was seemingly more meaningless and worthless than the choices I had made. I'm talking politicians and businessmen and all were griping and complaining. Even a couple of High School teachers ganged up on me and tried to tell me that none of the other teachers mattered... only they mattered. How do you prepare for life... this is the million dollar question I have.
With inflation and the rise of minimum wages a college degree is worthless. You’re getting paid the same amount of money as someone off the street who recently got hired. 15 years ago people with college degrees were getting paid 12 to 15 dollars an hour and if they were lucky to get raises are somewhere getting around 20 right now (Mcdonald’s and Walmart wages). College is not worth it!
Ain't wrong at all. I feel like I got a pile of debt for nothing. Considering I could have gotten my job wihout a degree. When I realized that I was like well, shit.
They were good investors, full stop. But saying everything else under the sun is useless, including college education? Without nostalgia, what do people live for? College/campus life is ultimate for society, isn't it? Doctors, psychologists, techies , scientists and what not? It's like a well in the frog advising that only my surrounding is the world
Of course it’s idiotic. The whole thing is absurd. It’s become a crazy cycle where people have excepted. The fact that one people in the prime of their life with the most energy and ability are sitting down at a desk and staring in a book and most people when they graduate Harley don’t know anything joke and her and Debt doing people this helps with all the professors and teachers give him a nice cushy job they have to work half the year the only have to teach usually two classes when they’re tenured and I get to retire in like 55 joke.
In 1988 the tuition at Southwest TX College in Uvalde, TX was $300 a semester for 21 hours, I then went to Embry Riddle Aeronautical University at $3,000 a semester. I was bored during my 2nd two years in the US Army and I was bored during my 2nd two years of University work. No mentors, no guide, no counselors, I then flew Corporate Jets and my Check airman said, “Don’t expect any pats on the back!” Yes understand Corporations always have to cry broke for the measly wages/salaries they provide.
I'm going into the trade compliments of a education I picked up while I was in technical schools in the military. My technical education in the military taught me to keep things simple and use practical common sense as much as possible. Because of that I managed to retire at 61 with a seven-figure net worth and my retirement income goes up and every 26 to 7% per year because of the investing I did. Since 2010 I've managed to beat the market a little bit on my returns and in 2022 I made .24% which is better than the negative 20% the S&P 500 did. Buffett and Munger are right, it's not complicated but it does take a lot of work. Overall I've done better than most my high school classmates did who have bachelor's and master's degrees. Common sense and marketable skills still have more value than a degree for the sake of a degree.
Well with the economy and stocks at where it is currently, I'd be disheartened on the off chance that individuals weren't making any blunder on their portfolio right now, it was a lot simpler to explore during the bullrun, in any case I actually see and read articles of individuals pulling more than $225k continuously in exchanges, why?
No -- he "met" his mentor by reading "The Intelligent Investor." He has said many times that reading two chapters of that book taught him most of what he needed to know about investing. I'm sure he is glad he got to meet Ben Graham in real life, but he received all the education he needed from the book.
For some of us, college is a corporate boot camp. Those people pay good money for a ticket to a comfortable nowhere. Some of us are crooked as dogs' hind legs before we go to college and we learned how to be more skillful in all our crookedness. However, some of us get what we paid for - a life changing experience. An ability to think about and question those things we were told not to think about or question. We learn how to enjoy using our minds; we learn how to enjoy reading and contemplating deep thoughts. These people should be eternally grateful for their college educations and the rest of us in our society should be grateful for their existence. We should be glad to pay for their education and all the wasted educations as well just for them. Money earned is a dreadful measure of the success of any educational system. Most people who make the most money probably do the least for their fellow man. If we are to live in a democracy then every human who gets to vote should know how to read and to think unfortunately most of us don't know how to do these things. I believe that most of all religious and political leaders don't want us to learn either of these things let alone both.
About 84% of the worlds wealth goes to 1%. I think theses guys are part of that 1% and they are speaking from a place of privilege. College tuition was instituted to keep Black Americans from being educated and attending predominantly European American colleges. Investing may not require advance learning, but it requires connection with the upper echelons of society.
What bullshit. Buffet went to Wharton, Univ of Nebraska and then Columbia for his Masters. Charlie Munger went to University of Michigan and Harvard for his JD. Both of them employ fleets of degreed lawyer, marketers, engineers and MBA. Let's see if any of their numerous companies or investments are managed by high-school grads who didn't attend college. I love them both, but this is complete BS.
Bill Gates never graduated from college, yet Microsoft hires tons of college graduates. Elon Musk attended college as well. Lol. People buy into this type of B.S.
Let me know when you want a non-college grad for you heart surgery or to design your bridge or to conduct due diligence on your next acquisition. I know a guy…
If he has experience or an equivalent certificate of expertise proving hes capable of doing open heart surgery I dont see why you shouldnt hire him just because he didnt learn it in a college.
Do not look for a job, look for an income.
Very true, I think to many kids today (especially back in my day) put their identity into studies. I do think that is destructive. Better to put your identity in something else, sports, military, art, whatever. I know a lot of people who kind of identified with their studies. This whole idea of bs, ms phd etc.
In the words of Morrissey "No, I've never had a job, because I've never wanted one".
College COULD be a fantastic, worthwhile, valuable experience/investment but the current state of academia/curriculae is largely atrocious.
Except for doctors and lawyers and engineers and...
Dentists
I think the real reason so many people go to college is because most businesses would have excluded them from the hiring process if they didn't go to some form of college. You always see that question on the application "level of education". If you don't say you have a degree, you are immediately eliminated from the hiring process. I just feel bad for the younger generation that was forced to go through college for employment opportunities that could have been learned on the job. What's worse is how jobs like physical therapy now require a DPT degree, but the job only pays 90k. That's a perfect example of colleges raising education requirements for jobs that are in high demand.
Totally disagree. Most jobs that say a degree is required are bluffing and you can still get the job by having other forms of experience and credentials. Its no different than when a woman on tinder says you have to be 6 ft tall, its a fake requirement that can be broken with other traits.
Yet if I were a patient who needed physical therapy, I'd want a therapist who has more education rather than less.
Start your own biz, fool! I did and made 1.6 mil gross income last year and over a mil each of the past 5 years. My personal/net/taxable income is over 220k a year. I’m only 30. No college
@@charlesg7926if you don’t mind me asking
What type of business are you in?
@@user-sg8kq7ii3yit doesn’t make a difference after a certain point
and he's not completely wrong.
70% of college students would be better off if they just had one year of someone holding their hand and "networking."
(This by the way is what schools like Harvard do, they always check on their students, make sure they have all they need, hear them, help them, respect them, etc. etc.)
I can confirm that most of my high-school classmates who didn't go to university were far more successful than I who spent 7 years studying at 3rd level🤣
I agree. Besides, college tends to bombard you with classes that have nothing to do with the major. And that only further reinforces the fact that its a waste of time.
@@MatthewTheWolf2029 Well if that’s the case if you ever need surgery no need to see a surgeon just call one of you buddies. Good luck.
@@TravisMcGee151 Piss off, man. I don't need your sarcasm. If I need surgery, I will go to the freaking hospital. We all have our own goals we want to accomplish. But if college is going to waste my time with classes that don't relate to the major, then I rest my case; its a waste of time.
If you live in the midwest, maybe.
@@TravisMcGee151 right these people are idiots who think college degrees produce accountants and Shit. College educated people made the phones you use, the treatments you need, they put men on the moon. People take life for granted that they forget the people who make and analyze everything that they used. You wouldn’t even have food at the table without college educated people.
Youth today would be FAR SMARTER to get a high demand trade. Electrician, AC tech, plumber, mechanic. The world really DOESNT need a kid with a degree in "gender studies" LOL
Too bad I can’t do any of those things
That’s actually true.z I know a very wealthy man. He learned ac service opened a company and now at 35 he has 40 employees and is set it’s a machine
@@LesserMoffHootkinsbull shit. Union Trade school are free stop crying
College, for the most part is the lazy thing to do. You got a remember most of these adults they’re not kittens. Many of them are almost 30 years old. Only go to school about 32 weeks out of 52 weeks in a year. They have 20 weeks off during the year they loafer around most the time do nothing pretend to have a part-time job takes student loans that half of them never pay back borrow money from family and your parents. It’s a whole thing is absurd. I have no idea how the system got set up like this
John 14:21
I went to college, hated it. Had a few lackey professors resting-and-vesting. Many podcasts are more useful than most professors.
Tell me which podcasts please
Ya so when you need an actual doctor for a family member do you just listen to a podcast instead ?
I never went to college, I bought a lot of real estate properties still in my 20s, (worked/saved/bought/ Refinanced/bought more/refinanced more)If I would go to college I would still be there going in circles from 1 jab to another and would have to pay my student loans till my late 40s
Amazing to hear brother, how did you start buying real estate.
@@Mohammed_Jelti49 He got a $10m "loan" from the Bank of Daddy like Donnie.
@@Mohammed_Jelti49father's money
The irony being that both of these men are incredibly well educated and met their mentors during their time in university.
Unfortunately many kids are choosing bs degrees like business which do nothing for you.
Most people today don't go to college to get an education, they go to get a piece of paper because they believe that the piece of paper is their key to a good job. Out of college they find that their piece of paper is of little help because they can't string together coherent sentences, they can't solve problems, and they have little understanding of simple principles of econ, business, communications, etc. For those people, college is a waste of money.
If corporate HR departments weren't so close-minded and butt covering. So many jobs you don't even get considered without a degree.
One of my sisters work for a County in Texas, she noticed employees making up other illegal jobs to enhance their salaries.
Good call guys! If you want to be successful, study success. If you want to be an employee or have nothing better to do with your time and money go to college. Half my time spent in a classroom was wasted.
Okay let me apply to Berkshire without having gone to college looool
Is chapter 8 of the intelligent investor natural to you? If it is, go for it!
Exactly. It's such a stupid concept it's laughable. Great, you're uneducated! Now go work at McDonald's!
There are jobs, like being a school teacher, that require an BA degree. Now getting a BA in Education is a cake walk, but necessary. Other jobs also require a BS or BA, but so many do not and I have friends more educated than most college grads, but they educated themselves with reading and mentors, etc.
He means for business. If you want to be an engineer, for example, it's not a waste of time.
Definitely. The field matters. A lot.
Both of those guys went to top notch colleges
Except for that little problem of corporate employers requiring degrees to get no experience jobs. If I didn't need the piece of paper, I wouldn't have gotten it. But they conveniently leave that fact out, because then the blame for degree inflation would be on them not some kid.
The thing is, on average, college curriculums are supposed to teach you to think and analyze in your particular field. To solve problems quickly in case things don't go smoothly. They also synchronize your mindset with the already established workforce. IOW, the employer doesn't have to spend money to train you and weed you out of a "specialty". You have to pay colleges for that, and of course, take a bunch of requirements you may or may never use.
Yet none of these billionaires would hire a person that doesn’t have a college degree. Don’t be fooled!
Yup. just looked on Warren's company's career section; the vast majority of the jobs require a bachelor's degree.
Yes. Elon Musk says he don’t care about college degrees. Apply for a job at Space X. They ask which engineering school did you graduate from. You say I never went to school. Next one. Look at what people do, not what they say.
I attend Grand Canyon University for my masters degree in early childhood education. I’m struggling mentally, and emotionally. College is just a waste of time and money. And I’m dealing with student debt.
Drop out of that pos school asap and go to your local community college to start out. Community is much cheaper and more friendly to those first starting and prepares you for your later years. Also, GCU is a shit school. While it is accredited and “cheap” compared to other traditional schools, It is a for-profit university meaning the heads of the school are more concerned with the money they make from you going there than the education you get out of it, which is why their programs are shit. In .my experience it seems most of what you get out of going there is partying. I visited a friend of mine who goes there and I don’t even know how you would be able to focus on your school work there lol it’s 90% amenities/housing. GCU is a shit school that baits you into going because of the things to do on campus and its location. Drop out asap!
Also, change your major. You wanna pay 5-6 figures tuition to be capped out at 40k? Look into the STEM fields, medicine, accounting, IT, etc. Education today especially at that level is just glorified babysitting.
@@joshtoncray9882 I’ve completed my bachelor’s degree in 2022. It was the most horrible, and problematic experience I’ve ever encountered. Unfortunately, I didn’t learn anything at GCU as an undergrad online student. I did enrolled for my masters degree in ECE last year. And I’ve withdrawn from the school, because it was giving me so many problems. One woman told me that when she was attending GCU for her doctoral degree, she told me she was running into a lot of issues and the bad experience she was having there at GCU. She also told me that GCU was more like a party school. And the instructors would be drinking up until 10pm. And they called themselves Christians smh 🤦♀️. 50/50 chance I may go to a community college. But I’m going to do a payment plan, because I’m 42k in student loan debt.
I like Warren Buffett and his partner, but there are many elite folks in our society who basically say the same thing, including Zuckerberg and Elon Musk, not to mention Gates and Jobs who both dropped out of college, but the slightly hypocritical message here is that all of these affluent people went to absolutely elite institutions of higher learning to essentially be introduced to people such as Benjamin Graham, in the case of Warren Buffett, as an example. The point of college is not necessarily to get a degree, because people can go online to get fake degrees and transcripts if they really wanted to. For some kids, going to college is basically taking a 4-5 year expensive vacation, and the solution to that is for them to instead apply for a US passport and travel the world for a fraction of the cost of going to college. For the actually bright students who want to become physicians, pharmacists, engineers, economists, educators and whichever other profession that requires a college education, they need to find more cost-effective options, including online education, but the concept here again is to make connections during their time in college. You can think of college as an expensive and extended cocktail party, where different types of people try to convince of how to lead your life, including liberal professors or other students from conservative backgrounds.
When you come from the bottom-most rungs of society where learning is not prized not mentored naturally by those around you, college is about the only accessible place (if you can find a way to pay for it) to expand your perspective. An education in business through college was infinitely valuable to me given that I came from an environment where I had no one to teach me how to get ahead in life.
I suspect this isnt an uncommon story among many aspiring undergrads who concluded college was a pathway out of ignorance and lack
College is not necessary to succeed. Information, intelligence, worth ethic and a good reputation will suffice. I've met many derelict college graduates. I've met many successful high school drop outs.
@@iamgabrielf but have you LIVED near the bottom? That's the only way you'll relate to what I'm talking about
All you’re doing is justifying your degree, most college grads do this. In a world where all information is available to you with a simple library pass, college is obsolete, save for the few jobs that require it such as doctor/lawyer/engineer/teacher.
Lucky for me, the company I work for paid for my bachelor's ad master's degree. But I agree with the title, my degrees are pretty much worthless.
Depends on the degree.
I looked up the tuition for Fordham University. It's $70K / year. That's almost $300K for 4 years. That's crazy. Imagine what happens if you invest that $300K instead. Go to a CUNY school for $4k / year. If you want to be a surgeon then by all means go to Harvard, it will be worth it in the long run. But for god sake don't go to an expensive school and major in English Literature.
Also with online learning I think the days of these ridiculous tuitions is over.
Universities are a business, they want money, they need students. You can actually self educate yourself through UA-cam DEBT FREE!
So true! I was an administrator for 32 years.
I never seen any high paid colleges to provide knowledge of eligibility of bank loan, acquiring good assets with liabilities, different business models which we normally learn today from UA-cam or some existing entrepreneur/business men. It is designed to create labour workforce
And then there are all those student loans you have to pay back, especially when you’re naive enough to have a degree that businesses don’t demand.
Nope ... like anything else, some college is an expensive waste of time ... but far from all experiences. I call Buffet's statement a manifestation of "the arrogance of wealth" ... I believe it stems from having an audience that hangs on your every word ... primarily because you're super rich. If you're a billionaire, you can make dumb decisions, ride through them, and no one is the wiser. We'd be in the stone age if ALL of our learning experience was not augmented by a formal grounding in the state of the art (college) ... it allows you to push the limit and advance society ... Warren Buffet also benefitted from those same advances. I can credit the college experiences for giving me the critical thinking skills to form my own opinions ... instead of taking some rich guy's word for it.
Yeah you're right, but that was before Internet, now there are some areas you can learn without going to college, times changes, change is the only constant, horses were fundamental for transportation, now we have cars
Absolutely, my way or
So Buffett is just some billionaire? Wow. And you're ok with a two billion dollar endowment charging it's students 60K? Again, wow.
True but so long as corporations require them to get jobs ppl will continue to get tbem
I got an associate degree in applied science, it took me two years and cost $24,000. I immediately got a job in civil engineering after receiving my degree from the tech school. I make $80,000 yearly off that 24,000 trade school degree. Well I did, I just joined the Army.
Spot on.
This is true if you actively self learn, if you screw around on facebook or tiktok all day and think you can hiphop your way to success, good luck. By self learning, I mean science, coding and the like, not useless things like entertainment.
If you are aimless you will wander nowhere and depend on luck. You need leadership to guide you. Those leaders are initially professors. Then employers guide you after that in specific "real life coursework". If you are like Mark Zukerberg, Bill Gates, etc. you quit college and become a billionaire. These are rare. Unfortunately, most people who skip college think they can be like them while using Facebook and XBox instead of making these things.
Long life is not as complicated as u think u just need to think ❤❤🎉🎉
The only degrees that are worth anything nowadays are physicians, nurses, anything in the medical field or a trade degree. Everything else you’re pretty much just pissing in the wind.
Engineering
Public education is obsolete.
I never went to college and glad I didn't, I don't have dept cause I did not go and have more money then if had went
Does Berkshire Hathaway hire young adults for promising careers without college degrees?
What kind of degrees are they interested in?
Do they train people on the job?
I would be retiring or working less in 5 years and I just want to know best how people split their pay, how much of it goes into savings, spendings or investments. I earn around $165K per year but nothing to show for it yet.
you're not alone, i'm part of the High Earners, Not Rich Yet (HENRY) not having much left after taxes, housing, and family costs.. not to mention saving for an affluent retirement.
Take a look at Dave Ramsey. He has made many working people millionaires on a lot less money than you are making. Check out his You Tube channel. Not the way I did it. But it is a sound and proven process.
It's called the fallacy of composition. Just because college degrees worked for smart, motivated people when they were an elite minority and academic standards were high, that doesn't mean it'll work for every slob who majors in comparative basket weaving and gets drunk every weekend.
This is so true, even engineering has become very saturated IMO, I am a manufacturing engineer, sure, that has never been so sought after, but still. I think even Software engineers are in trouble.
In this video, Warren Buffett does not say that "college is an extremely expensive waste of time." His and Charlie's comments were much more nuanced than that. Don't be a fraud yourself, anonymous video poster.
You can learn much more from youtube than you can at any college.
Agreed.....free too!
Sure we've all seen youTube videos on how to perform open heart surgery - NOT
@@richardtrotter6008 we’re talking about the theoretical part
Yeah forget it, average job with any skill requires 3 years entry level experience and or degree
There are a lot of things on UA-cam that are not correct.
This is bs. I have never regretted getting my degree from college. I have always been able to secure a job interview with the degree. The reality is opportunity, every job interview I have had, I got, with the degree. You can be successful, with or without a degree, but to say it is a waste of time, I totally disagree.
What degree and how much do you make
@@imhopelesslyaddictedtofent4266 They won't answer because they are parroting the same crap everyone else is.
So NOW you tell me
People are taught go to school then go to college or university and then get a job. no one is ever taught how to make passive income . Just think you will be working for someone all your life . Most wealthy people know you need to be an investor or a business owner to be financially free. I have passive income streams apartments rentals teants pay my mortgage. And I use the leverage and buy a different business. . I was never taught this in school learned it buy reading Richard poor dad . I learned more in that book then all my years in school😅😅. Rich people have more than 1 income streams mean while everyone else just wants a pay check. You are the most taxed as an employee……..if more people studied the tax codes or the business laws you will be far more wealthy. The rich know the difference between good debt and bad debt . Employees are the most taxed income . Business owners are the least taxed , and a investor that puts money in e stock market pays 0 taxes I learned more about money just buy learning the tax codes and business and learning about real estate investing 😅 then all my 4years in high school. My family friend has a car wash business and a tile business it might not look like he is rich but this guy is a millionaire. He has real estate properties as well . Like rental properties. Most rich people try not to draw to much attention to them selfs. They try to look normal.
Job training is not equivalent to education.
I think that this video title is somewhat misleading. I think they are saying that college costs have gotten out of hand. Warren Buffet went to college. In fact it seems that he met his mentor there. So if he hadn’t gone to would he have become the investor he became? More to the point, would he have had the skills necessary to make something out of investing? Sure it is possible to self-educate, in fact, it is necessary. College still makes it easier, just don’t spend too much on it. Find your teachers.
I think both of these guys benefited from college. I think Ben Graham was a college prof. It is overly popular to talk about how useless college is. They find bartenders with masters degrees and then talk about Bill Gates and Mark Zuckerberg being billionaires without a college degree. Like this proves their point.
Is anyone else not comfortable with non-engineers designing planes?
Or people, who never went to medical school, doing heart and brain surgery? Or a nurse who never attended nursing school, administering drugs into your IV bag? 🤣
I work at State Farm in the claims department and make six figures. My dumbass went to college and I could've been doing this job right out of high school! College is good for STEM majors only in my opinion.
But you still have to prepare for life and earning a living. Why isn't education of any value to young people who are at the very least attempting to prepare for their future earnings and income. And if Education is not of value then what is? To be honest, for years I studied and learned and groups criticized me along the way and when I got out and decided I had to use my education to earn a living... nobody wanted the education I had... they wanted me to RETURN TO SCHOOL and get education that was seemingly more meaningless and worthless than the choices I had made. I'm talking politicians and businessmen and all were griping and complaining. Even a couple of High School teachers ganged up on me and tried to tell me that none of the other teachers mattered... only they mattered. How do you prepare for life... this is the million dollar question I have.
With inflation and the rise of minimum wages a college degree is worthless. You’re getting paid the same amount of money as someone off the street who recently got hired. 15 years ago people with college degrees were getting paid 12 to 15 dollars an hour and if they were lucky to get raises are somewhere getting around 20 right now (Mcdonald’s and Walmart wages). College is not worth it!
Ain't wrong at all. I feel like I got a pile of debt for nothing. Considering I could have gotten my job wihout a degree. When I realized that I was like well, shit.
They were good investors, full stop. But saying everything else under the sun is useless, including college education? Without nostalgia, what do people live for? College/campus life is ultimate for society, isn't it? Doctors, psychologists, techies , scientists and what not? It's like a well in the frog advising that only my surrounding is the world
Of course it’s idiotic. The whole thing is absurd. It’s become a crazy cycle where people have excepted. The fact that one people in the prime of their life with the most energy and ability are sitting down at a desk and staring in a book and most people when they graduate Harley don’t know anything joke and her and Debt doing people this helps with all the professors and teachers give him a nice cushy job they have to work half the year the only have to teach usually two classes when they’re tenured and I get to retire in like 55 joke.
This is true, i sent my son to college and hes an absolute dimwit
Lol
In 1988 the tuition at Southwest TX College in Uvalde, TX was $300 a semester for 21 hours, I then went to Embry Riddle Aeronautical University at $3,000 a semester. I was bored during my 2nd two years in the US Army and I was bored during my 2nd two years of University work.
No mentors, no guide, no counselors, I then flew Corporate Jets and my Check airman said, “Don’t expect any pats on the back!” Yes understand Corporations always have to cry broke for the measly wages/salaries they provide.
I'm going into the trade compliments of a education I picked up while I was in technical schools in the military. My technical education in the military taught me to keep things simple and use practical common sense as much as possible. Because of that I managed to retire at 61 with a seven-figure net worth and my retirement income goes up and every 26 to 7% per year because of the investing I did. Since 2010 I've managed to beat the market a little bit on my returns and in 2022 I made .24% which is better than the negative 20% the S&P 500 did. Buffett and Munger are right, it's not complicated but it does take a lot of work. Overall I've done better than most my high school classmates did who have bachelor's and master's degrees. Common sense and marketable skills still have more value than a degree for the sake of a degree.
It’s not all about money man. Do you think everyone goes to college just to be successful in this capitalist hellscape?
Skills; Reading, Writing, Learn how to Learn
Matthew 7:21
What is going on with his head wabbling???
Well with the economy and stocks at where it is currently, I'd be disheartened on the off chance that individuals weren't making any blunder on their portfolio right now, it was a lot simpler to explore during the bullrun, in any case I actually see and read articles of individuals pulling more than $225k continuously in exchanges, why?
You can buy toilet paper from the supermarket for $6.
warren buffet went to college and that's where he met his mentor.
No -- he "met" his mentor by reading "The Intelligent Investor." He has said many times that reading two chapters of that book taught him most of what he needed to know about investing. I'm sure he is glad he got to meet Ben Graham in real life, but he received all the education he needed from the book.
Exactly. People just can’t understand statistics properly.
I just wished Buffett would spend some of his money on a decent haircut and dental care.
I think that the things you focus on proves Buffett and Munger's point perfectly.
@@rickvalentine44 sat next to him at a charity event, the poor guy has halitosis.
For some of us, college is a corporate boot camp. Those people pay good money for a ticket to a comfortable nowhere. Some of us are crooked as dogs' hind legs before we go to college and we learned how to be more skillful in all our crookedness. However, some of us get what we paid for - a life changing experience. An ability to think about and question those things we were told not to think about or question. We learn how to enjoy using our minds; we learn how to enjoy reading and contemplating deep thoughts. These people should be eternally grateful for their college educations and the rest of us in our society should be grateful for their existence. We should be glad to pay for their education and all the wasted educations as well just for them. Money earned is a dreadful measure of the success of any educational system. Most people who make the most money probably do the least for their fellow man. If we are to live in a democracy then every human who gets to vote should know how to read and to think unfortunately most of us don't know how to do these things. I believe that most of all religious and political leaders don't want us to learn either of these things let alone both.
College is generally not a waste of time, as long as you know what you’re doing it.
“Warren Buffet is a massive waste of time.” Hey Warren WTF would you say you do here?
About 84% of the worlds wealth goes to 1%. I think theses guys are part of that 1% and they are speaking from a place of privilege. College tuition was instituted to keep Black Americans from being educated and attending predominantly European American colleges. Investing may not require advance learning, but it requires connection with the upper echelons of society.
Lol
Sure, let's ask them if they would accept going through a heart surgery with somebody without a degree
Time to time Warren and Munger talk crap
Only in merica it’s expensive
What bullshit. Buffet went to Wharton, Univ of Nebraska and then Columbia for his Masters. Charlie Munger went to University of Michigan and Harvard for his JD. Both of them employ fleets of degreed lawyer, marketers, engineers and MBA. Let's see if any of their numerous companies or investments are managed by high-school grads who didn't attend college. I love them both, but this is complete BS.
Bill Gates never graduated from college, yet Microsoft hires tons of college graduates. Elon Musk attended college as well. Lol. People buy into this type of B.S.
Let me know when you want a non-college grad for you heart surgery or to design your bridge or to conduct due diligence on your next acquisition. I know a guy…
If he has experience or an equivalent certificate of expertise proving hes capable of doing open heart surgery I dont see why you shouldnt hire him just because he didnt learn it in a college.
University ruined my life.