Bitcoin as a Replacement for a College Savings Plan

[Hewlet]

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?

this is an interesting idea that will do more good to young people preparing for adulthood.

Imagine we invested all the money we are spending in school into something like bitcoin it any other thing, within the four to five years we stay in school, we would have saved or invested a huge amount of money. Like in my undergraduate days, what we spend a session for school expenses minus food is roughly $300, if you multiply it by five that should give you around $1500, if such amount is invested within 2 to 3 years, the returns would be reasonable to a very large extent.

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[Pokapoka124]

A lot of people have shared their opinion on the topic, if we had a poll I believe 60% would be against the idea of the OP. For me, I think you should base your decision on the economy of your country and your values. If you are living in Nigeria, like me, or any third world nation for that matter, it would be a wise decision to skip college and use that money to invest in bitcoin and train your child on a skill. In Africa, the number of graduates per year is triple the amount of jobs available. Having a skill is more lucrative than a masters degree.

[jvanname]

The best college savings plan is to not go to college at all and to tell your bastard kids not to go to college either. Colleges promote violence. College is a SCAM! I know. I was a professor.

-Joseph Van Name Ph.D.

P.S. If you want to prove your intelligence, a college degree does not mean squat. Prove your intelligence by investing in a cryptocurrency with a mining algorithm that is actually designed to advance science.

[Mauser]

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 I noticed the exact opposite, a Bachelors degree becomes the norm today and whereas maybe 10% of the young people went to university back in the days, it's probably 35-45% today. There are so many school schemes that offer your high school diploma during evening hours and even people who aborted school at a young age will come back later. Also the whole university landscape changed a lot in the last 20 years. A lot of so-called universities are working together with companies and offer applied degrees, where you will spend half the time working full time and half the time studying. The company will pay for your education and expects you to keep working for them after you finish graduation. Which is why I feel like that the Bachelor’s degree became mandatory for many jobs today. I am not so familiar with the various savings plans from insurance companies, but doesn't a life savings plan usually mean that you only get the money after retirement? In my country the whole concept of a life savings contract is that you get a certain amount of minimum expected return, and everything above that is not guaranteed and based on return of your assets. If you ask me, I would always prefer to invest the money myself and don't pay for all the fees for the insurance company. Saving on our own gives us all the freedom to buy crypto currencies and we can also withdraw money if it's needed.

[rodskee]

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?

You have a great view of the future specially adding Bitcoin on it , I have a college student
now and yes Bitcoin also helped me saved for my second son that will be entering college also in the next semester .
so with this I completely support your idea here and hope next year as my son entering
college , I can pay at least first 3 years of His course from my funding for his education from bitcoin investing.

[Inwestour]

A lot of people have shared their opinion on the topic, if we had a poll I believe 60% would be against the idea of the OP. For me, I think you should base your decision on the economy of your country and your values. If you are living in Nigeria, like me, or any third world nation for that matter, it would be a wise decision to skip college and use that money to invest in bitcoin and train your child on a skill. In Africa, the number of graduates per year is triple the amount of jobs available. Having a skill is more lucrative than a masters degree.

This is a difficult choice, choosing one thing is never easy, and ideally it would be good to get a higher education and save a little for investment, even if it is a small investment, it can become something big in the future. Without a good education, it will be even more difficult to find a good job, and therefore you will have to work hard all your life.

Education will never be superfluous, despite the fact that now the situation is difficult and it is difficult to find a job in your specialty, but everything can change in the future. When I was studying, I found a temporary job and could save some money, there are always opportunities.

[Peanutswar]

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?

This scenario might quite depend but it's different if you have the degree it your proof that you graduated, and earned knowledge and skills that can be used outside the school for your daily needs and life sustainability. People now are using skill base even you have credentials but in some cases not always like in others if you apply to work, knowledge or a degree too is an investment. Those degrees are your certificates to become a valuable person. If you have money like Bitcoin but are not too literate surely you will just spend those easily and vanish an instant. But use bitcoin as your extra savings and investment is ideal plan if you have already a good source of income.

[kotajikikox]

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?

this is an interesting idea that will do more good to young people preparing for adulthood.

Imagine we invested all the money we are spending in school into something like bitcoin it any other thing, within the four to five years we stay in school, we would have saved or invested a huge amount of money. Like in my undergraduate days, what we spend a session for school expenses minus food is roughly $300, if you multiply it by five that should give you around $1500, if such amount is invested within 2 to 3 years, the returns would be reasonable to a very large extent.

If only every one would learn how to trade and how to use Bitcoin , then who will be the losers in the coming days because for someone to profit there must be a loser in their investment.
wondering if all the youngsters now will not go to college instead will just invest in bitcoin and other altcoins, who will build infrastructure in the future? who will be the laborer then?