Bitcoin as a Replacement for a College Savings Plan

[tread93]

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?

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[franky1]

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

[iBaba]

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!

[komisariatku]

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

[avikz]

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.

[buwaytress]

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.

[BIT-BENDER]

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.

[SatoPrincess]

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.

[mirakal]

I guess if time comes that college degree will not be a requirement anymore, then most likely young kids will never be motivated anymore to study hard so they can reach their college days. So I think that's more of a disadvantage on part of the students and those institutions that offer higher education.

However, bitcoin is a good option for savings because its value appreciates every now and then. But I don't think one should only focus on bitcoin savings but should also consider saving in fiat as most of the necessities these days are still paid in fiat. Let's say let's put 60% on bitcoin and 40% in fiat, or 70% bitcoin and 30% fiat, depends on where you feel most convenient to save. College expenses are definitely expensive, so one should even save prior to that. Even if college degree will be removed, I still see advantage saving bitcoin even before college.

[odolvlobo]

Whether university is necessary or not is going to be different for each person. My advice is to get the best education you can afford. It will benefit you in the long run.

As for mutual fund vs. 529 vs. life savings vs. bitcoin, it all depends on your plans and your risk tolerance.

A 529 plan is a way to save for future education. It is an excellent vehicle for saving for future education because the gains are tax-free. On the other hand, your investment choices are restricted. Also, its use is not restricted to only paying for university tuition. It can used for other expenses and it also be used for K-12, and certain trade or vocational schools.

I think it is a mistake to assume that the price of a bitcoin will continue to rise at a rapid rate. Bitcoin may be a very good long term investment and better than other investments, but there is still a lot of risk. And while high risk/high reward assets may be appropriate for long term investment, investing only in Bitcoin is a mistake in my opinion.

[alankasman]

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.

It would be a good idea if most companies had plans to remove the requirement of a bachelor's degree as a requirement for a job, unfortunately in my country in most places, a bachelor's degree is still a specific requirement for employment.
A bachelor's degree should not be a special requirement when applying for a job because the benchmark for a person's ability to work is not a degree but a person's strengths in mastering scientific disciplines.

In other places, a bachelor's degree or a degree higher than a bachelor's degree is no longer reserved for job applications because the need for work will be tested based on the ability to master the desired field.

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?

If you just need sufficient finances, this is a very flexible option.

[Upgrade00]

If a college savings plan loses its relevance die to a reduced necessity to get a college degree, it will make some sense to replace that degree with a skill that has practical relevance in the society. Even now I will recommend that more people learn hands on skills rather than picking a discipline they mostly have no real interest in.

Bitcoin will only come into this discussion if after learning a skill or two one has some capital left over to put into an investment of their choice.

[Bananington]

Even now I will recommend that more people learn hands on skills rather than picking a discipline they mostly have no real interest in.

Some people wait to finish school first before they consider a skill to learn. It is good but it would have been better to learn the skill early.

It can also happen sometimes that the course that people apply for to study are not what they get to study in the school of their choice so rather than just accepting any course of study offered to you by the school of your choice, you can devote that time and the money that you will spend paying tuition for a course you have no interest in, into investing in learning a skill that really interest you. Skills are paying more now. Skills can raise enough money for you that you have enough to invest in bitcoins with.

[Orpichukwu]

If we are to look at the way things are moving based on how some companies threaten the best graduating students and how they threaten some high scholars compared to the value that has been attached to it over the years, you will definitely see going to college as a waste of energy and resources.
 
If the money that is to be spent on acquiring those college degrees could be put into other things, I guess it might be beneficial to some more, then the education will be for them, but still, even if those companies don't take one and offer them a job, the knowledge that is gotten from the school is not wasted at all.
 
Society is changing; we just have to adapt to it. These days, most people prefer to employ skilled workers who are only being trained through training over those who went to college and gained degrees in those fields.
 
If one thinks that the money can be put to better use than using it for college, then we can divert those funds into something else, or better yet, one can save up for a higher degree, which is needed in the companies out there.

[Vaculin]

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 can always invest in bitcoin as much as you want provided that you know the risk that is attached to bitcoin investing, but I have this hesitation if college degree will be definitely removed as a basic requirement when applying for a job. I guess that remains an illusion, as there's no way that college degree will not be relevant anymore. Although I have this realization that skills and experience are much needed for a company to hire you more than your educational attainment. But we should also learn to consider that critical thinking and problem solving solutions are mostly developed having a college degree, that's why it's still essential for companies to require college degree holders.

However, I have no against with bitcoin savings, but I still think that traditional mutual fund will not be easily replaced or eradicate. But you can chose to save in both without compromising one another.

[Baofeng]

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?

I don't think that we can compare them, but the best that we can do is to have a new option like bitcoin. And as the saying goes, Be your Own Bank, but there are also risk involved here. So before someone can really set it up as saving plan, individual should learn what wallet to use and how to practice safety hygiene. As compare to having a traditional mutual fund, you don't need to worry with the setup.

So it's doable in my opinion, but there are pros/cons for having it your way.

[seoincorporation]

Here the problem is that you are gambling with the College savings, and that is not a wise move at all because if the markets crash on the long run you will not recover the reinvestment. I would recommend to consider investing in another source of income or other money than the one supposed for college.

The question here is, will bitcoin hit the ATH before you have to play the College, if the answer is ye, then it was a wise move.

[terrific]

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?

The volatility of Bitcoin is an opportunity but at the same time, you're unknown if you'll be able to take it. What if it is not Bitcoin that you're going to load with that plan but your profits from it. With that, you're not going to worry with the volatile that the market will cause.
And at the same time, you have an assurance that you are doing it correctly and that's what will give you the peace of mind that someday the value of it might just be the same, a lil higher or bit lower.

[dothebeats]

I guess at this point, if college is a no-go for most people, the funds that they could have used to that route could be diverted to them learning skills or trades that will further their careers. While a degree may not always be necessary to apply for jobs in the future, some classes are still needed in order to 'formally' learn the techniques of a certain skill. This pushes your skill level a bit which makes you hireable than the others, and it wouldn't happen if you haven't taken those classes.

Keeping some bitcoin funds is a good way to potentially secure your future. Then again, it is not free from volatility and crashes so you shouldn't bet your 100% to it. At least, diversify your savings and keep a bulk of bitcoin if that's how you want to play your game.

[bocyaj]

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?

The reason behind this was the graduation standard was reducing in the current situation.The people do the graduation for the time sake,if you ask the engineer about the engineering subject means.He can’t able to answer for the same,this was the prime reason for the graduation requirement is not needed by the corporate industry.And many people discontinue their education because of the financial difficulties.Now cryptocurrencies reduce the financial difficulty of the students by giving some job to their college fee.Now the students also doing the trading by side to their education.The parents also use the forum to earn money for their children college fees along with their regular income.