Bitcoin as a Replacement for a College Savings Plan - page 4.

SatoPrincess

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Quote from: BIT-BENDER on December 28, 2023, 01:14:02 PM

Firstly it sound absurd that some institutions or companies according to you is planing to scrap out college degree, I think that's completely impossible and would lead to incompetent hands on very important aspects of the society, imagine being treated by a nurse without degree or your beloved drink company employing no college degree biochemist?
I don't think this would ever happen. Also Bitcoin investment should be a choice a not forced down on people or made a requirement for anything.

You’re partly correct, a degree is necessary in certain professions especially those dealing with health care and education. There are entry level tech roles that do not require a college degree. Companies are often looking for motivated individual who have the skills necessary for the job, you can easily transition into the job because recruiters look for transferable skills that can apply to the job they are hiring for.

BIT-BENDER

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Firstly it sound absurd that some institutions or companies according to you is planing to scrap out college degree, I think that's completely impossible and would lead to incompetent hands on very important aspects of the society, imagine being treated by a nurse without degree or your beloved drink company employing no college degree biochemist?
I don't think this would ever happen. Also Bitcoin investment should be a choice a not forced down on people or made a requirement for anything.

buwaytress

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Too bad for my generation -- had a really tough time early in my career and even recently, competing with a formally educated workforce -- partly why I ended up freelancing (and thanks to crypto companies also not looking for degrees.

But yes, I'm of the opinion Bitcoin won't necessarily pan out for me personally. I knew this even in 2016 when I started building a nest egg, that it'd be for whoever I'd be leaving behind. DCA it to death (literally) and hope it works out in the same trajectory of the past 7 years for the ones living after me.

avikz

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Quote from: tread93 on December 28, 2023, 10:32:30 AM

At this rate, I am seeing that now most corporate companies plan to remove the college degree requirement for jobs, which will transform the college education long term, and its looking like it won't even be needed unless you're going to be a PhD or a Lawyer etc etc.

The traditional mutual fund / 529 plan isn't really needed anymore if college isn't going to be a requirement, but now I am more so just thinking of a life savings plan is a much better and more flexible option. Maybe just set them each up a wallet and load x amount each making quarterly contributions. By the time they are old enough surely they would have more money in that account anyways compared to the mutual fund, right?

Don't fall for this trap. There are only a handful of companies where they do not look for a college degree to hire you if you have extraordinary talent. 99% of the companies still believe in meritocracy. The world you are dreaming of, is not going to happen in your lifetime. Probably few more generations will be needed to change this social system. So get a College degree and it is best if you can get a masters degree at least.

Saving in Bitcoin should be fine because Bitcoin has the potential to give you a great return which can cover your education cost. But be a little conservative and probably divide your investment to invest in both Bitcoin and mutual fund.

komisariatku

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Quote from: tread93 on December 28, 2023, 10:32:30 AM

At this rate, I am seeing that now most corporate companies plan to remove the college degree requirement for jobs, which will transform the college education long term, and its looking like it won't even be needed unless you're going to be a PhD or a Lawyer etc etc.

The traditional mutual fund / 529 plan isn't really needed anymore if college isn't going to be a requirement, but now I am more so just thinking of a life savings plan is a much better and more flexible option. Maybe just set them each up a wallet and load x amount each making quarterly contributions. By the time they are old enough surely they would have more money in that account anyways compared to the mutual fund, right?

In my country a bachelor's degree is still very much needed to apply for jobs, and it looks like this will still be the case in the next few years so preparing funds for education is very important. Especially considering that the cost of education is increasingly expensive compared to previous years. It might be nice that in your country there are plans to remove the requirement for a bachelor's degree to apply for jobs, unfortunately that hasn't happened in my country.

Preparing education funds by saving bitcoin might be a good solution, especially since my child is still small so it will take a long time before he can go to college. If I start saving bitcoins, maybe the price of bitcoins will be very expensive at that time, and saving bitcoins is the right choice. I like your idea, and in the long time I think saving bitcoin is more profitable than in mutual funds

iBaba

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This topic looks good. As a college student I should try to do this now. There is plenty spending at the college especially as a Masters degree student or even the PhD. It only translates to a more funding and expenses because you are required to provide and make use of a lot of materials particularly for us that have the background on Sciences. I need to carry out experiments and samples from my research sites at very specific times. What that implies is that I will not need much time to prepare for it and what that also means is that I will always need some cash around me.

the only way out of this is through investment and the only investment plan that can fit a student like me now is the DCA approach. With that approach, I am able to easily save from my earnings for the dry seasons or unexpected expenses. It is really interesting to see topics like this as a student because that resonates with my temporary condition now aside from my business plans. I will need to think over this more heavily from now, Thanks!

franky1

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traditional funds DCA operate differently than bitcoin DCA

although people DCA traditional funds. those investors are depositing into managers whom then choose when to buy the dips of a selection of stocks
periodically they are investing more into the dips of stocks and divesting the hype rises of stocks to maximise the potential profits

however just DCAing bitcoin misses out on the timing of dips and hypes
EG buying during middle 2021 would have been a bad time to invest via DCA in bitcoin and a good time to divest
EG buying in winter 2022-spring 2023 would have been best time to invest via DCA in bitcoin and a bad time to divest

and its for this reason why pension funds and life savings funds want ETF so they can gain exposure to crypto so they too can play the dips and hypes of crypto when the timing is right to invest and divest

yes buying and hoarding will get you profits long term. but maximising profit also needs playing the ups and downs

tread93

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At this rate, I am seeing that now most corporate companies plan to remove the college degree requirement for jobs, which will transform the college education long term, and its looking like it won't even be needed unless you're going to be a PhD or a Lawyer etc etc.

The traditional mutual fund / 529 plan isn't really needed anymore if college isn't going to be a requirement, but now I am more so just thinking of a life savings plan is a much better and more flexible option. Maybe just set them each up a wallet and load x amount each making quarterly contributions. By the time they are old enough surely they would have more money in that account anyways compared to the mutual fund, right?

Topic: Bitcoin as a Replacement for a College Savings Plan - page 4. (Read 387 times)