Bitcoin as a Replacement for a College Savings Plan

[ChiBitCTy]

I can't agree with you here bud.  I first off don't think that college educations are becoming way less important.  At least in my line of work (finance) there is still a college degree requirement.  This goes for a lot of my friends in their random places of work.  A 529 plan has it's restrictions, or downfalls, but it's a lot less volatile (typically) than bitcoin is, so as an advisor I could not recommend someone replacing their 529 with a bitcoin investment.  Too risky.

[kingvirtus09]

When it comes to mutual funds, I would prefer to save Bitcoin or other cryptocurrencies like Ethereum, Ada, Bnb, Matic, or Sol if I will only hold the money for 10–15 years. Chances are even higher that the value of those will be big after those years.

There is the same risk in mutual funds and digital currency, right? At least with Bitcoin or cryptocurrency, we are still in control of our money compared to mutual funds; this is what I see as an advantage literally in the world we live in in this field industry.

[bhadz]

That sounds cool but what you're saying is that college won't be needed anymore in the future so why still save with it? Before, we've got our retirement plans and funds and this time someone's college savings plan. I think it won't be a problem if it's going to be me that will take this risk. But as you take this risk and do it for someone, that's the hard part of it. We can easily take all of these risks and let them get along in the future handing over them this money. And with this plan, it is just all about the uncertainty. Yes, we're all Bitcoin investors and optimists about its future but this is someone's future not ours.

[GreatArkansas]

I can't agree with you here bud.  I first off don't think that college educations are becoming way less important.  At least in my line of work (finance) there is still a college degree requirement.  This goes for a lot of my friends in their random places of work.  A 529 plan has it's restrictions, or downfalls, but it's a lot less volatile (typically) than bitcoin is, so as an advisor I could not recommend someone replacing their 529 with a bitcoin investment.  Too risky.

Exactly, this is a risky play even if you will invest your college fund in non bitcoin-related investments. All investment comes with a risk.
So for me, if you afford to lose your college fund, then go invest it. Just don't risk anything that will make you suffer in the future.
Just to remind you, Bitcoin is extremely volatile!

[Obim34]

With how the world is currently evolving, seems they have grudges for the poor masses not being able to be employed after making out with a normal college degree, knowing fully well the expenses taken care of when trying to bag a college degree.
Taken it  up PHD level can stir many into finding way of baging the PHD.

If you have enough funds during your college to begin your investment mostly in Bitcoin then it becomes cool as you will make enough profits before the time when the money will  be needed.

[Assface16678]

I can't agree with you here bud.  I first off don't think that college educations are becoming way less important.  At least in my line of work (finance) there is still a college degree requirement.  This goes for a lot of my friends in their random places of work.  A 529 plan has it's restrictions, or downfalls, but it's a lot less volatile (typically) than bitcoin is, so as an advisor I could not recommend someone replacing their 529 with a bitcoin investment.  Too risky.

true! I don't know if we are trying to be boomers or what. I honestly belong to a younger generation, but I don't think that disregarding a college degree is the right thing to do. Maybe not all people have the right or capability to attain a college degree or to attend college, but still, it is not an excuse to let yourself not be a college degree holder, as it's still important to have something to be proud of. I'm not against bitcoin investment, but it's not always a smart move for everyone. Not all people have the same fate and destiny, so everyone should always prioritise having a college degree first, then the investment to be followed, or during study days. I started investing in bitcoin while studying in college, but I don't use any of my college savings because education is important to me.

[PrivacyG]

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?

Some companies rather hire employees with no college degree because they can teach them every thing from zero as they wish.  If you do college you will have a more structured and developed brain which companies rather develop and structure themselves to their own liking.

I doubt this applies for domains like medicine.  That would be utterly stupid.  To say the least.

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Not the best idea in my opinion to take Bitcoin as a granted investment for future plans.  While in my opinion it will grow like never before in the next few years, this is not a guarantee and is a very high risk compared to other plans for savings.

[yhiaali3]

Of course, creating a wallet for children and following DCA Bitcoin in the long run will be a wonderful gift to give to your children when they reach young age and start creating their own projects. They will have good capital by then.

Personally, I find this strategy much better compared to a mutual fund, at least you know that the wallet is constantly growing and the price of Bitcoin will have risen many times by that time, in addition, of course, as we know that fiat loses its value in the long run, while Bitcoin is a store of value.

[Darker45]

I doubt that companies would soon remove the college degree requirement, at least not here in my country. As a matter of fact, with jobs getting scarcer and scarcer and the number of jobless labor force getting higher and higher, it is a significant edge that you're a college graduate.

However, it is also true that many jobs nowadays are skill-based. I guess one has the option not to pursue a college degree for as long as he/she is determined to hone his/her skills to the level of an expert. That would, however, limit one's promotion opportunities.

But whether one decides to get a degree or not, Bitcoin is always the way to save.

[btc_angela]

Obviously as bitcoin is a great investment, and everyone can do it, not just saving's plan for college but any that individuals wanted to save and grow their money. But it's not as easy as it sound as bitcoin is volatile.

There might be a time that as parent you see your investment and it's going down and you calculate that it might not be enough specially if we are in a bear market. So everything is about timing here and really depend on the individual. Also bitcoin investment is not going to replace those old and traditional way of people investing their money for the future of their family.

[barisbilgili]

Obviously as bitcoin is a great investment, and everyone can do it, not just saving's plan for college but any that individuals wanted to save and grow their money. But it's not as easy as it sound as bitcoin is volatile.

There might be a time that as parent you see your investment and it's going down and you calculate that it might not be enough specially if we are in a bear market. So everything is about timing here and really depend on the individual. Also bitcoin investment is not going to replace those old and traditional way of people investing their money for the future of their family.

Because Bitcoin is volatile, it is very important to really understand it before deciding to invest in Bitcoin, because if we don't understand it well, of course we won't be able to get a profit from investing in Bitcoin.
If we get a bearish market situation, of course we have to hold on to the investments we make so that we can get a profit from these investments and if we need these funds for college, of course we will experience losses if we choose to take these funds.
Yes, this really depends on each person and also someone's understanding of Bitcoin to survive bearish market conditions, each person will use a method that they think is comfortable to save their money, either traditionally or investing in Bitcoin.

[Apocollapse]

It's better if you calculate the college fees first, when your savings already met your plan, you can stop to save your money in mutual fund instead invest in Bitcoin. You could go like 80% in mutual fund and 20% in Bitcoin, depends on the strategy you'd prefer.

Imagine if your Bitcoin investment goes wrong, how will you handle the college fees? would you choose to not take college for your kids? what if your kids want to become a lawyer or other specialization jobs?

[Blitzboy]

Bitcoin investing instead of college savings? Indeed, bold action. Analyze it: hanging employment market requirements. Yes, many companies value talents above degrees. Education's function in career development is changing. Instead of academic schooling, focus on practical skills.

Bitcoin as a life savings plan. Here, I disagree. Bitcoin has grown rapidly, but its volatile. Not simply potential gains, but risk management. Could your kids be rich? Absolutely. Could they also lose big? Definitely. Any investment strategy needs diversification.

Additionally, the future of Bitcoin. Im bullish on Bitcoin. Its global monetary potential is clear. You're saving money and investing in the digital future with your strategy. I embrace Bitcoin, but optimism must be balanced with caution. Avoid overconfidence.

[Die_empty]

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.

A degree will continue to be a requirement for employment. But I usually advise young graduates not to rely on paper qualifications for employment opportunities. The global economy is ever changing and work roles are also evolving. People should ensure that they learn new skills that are highly needed in society. Currently, the artificial intelligence sector is influencing all manner of jobs, it will not be out of place for people to learn how to apply these AI tools in thier jobs to make it faster and cheaper.

Instead of keeping money in banks where there is a low interest rate and high inflation, investing in Bitcoin could be an option for many people. Most people prefer to Invest in others because Bitcoin is not the only investment platform. However, I will encourage anyone who cares to consider learning about Bitcoin and if they are comfortable, they could consider Investing in the sector.

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 think most organisations are focusing on practical knowledge rather than academic qualifications. This is because most graduates are half-backed and cannot perform tasks assigned to them. There are even reports that certificates can be acquired with money. These days you don't even need a degree to work in the health sector, the recruiting firm will just subject applicants to intensive training and certify them within a few months. However, degrees and certificates will still be relevant for a long period.

[lizarder]

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.

In my country a diploma is still required to apply for office jobs and if you are not one with a bachelor's degree then work in companies only in the security sector and other freelance jobs. Honestly, I prefer companies that look at skills rather than college degrees because those who have a diploma do not necessarily have skills and vice versa.

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? 

It really depends on where you put your money and if bitcoin is an option you want to pursue then I totally agree with that plan. If college is no longer necessary, perhaps preparing long-term savings in a much more productive method is really needed and maybe Bitcoin provides a way for anyone to achieve this. It is important to remember that knowledge about how to invest is the main thing that needs to be learned, both how to store assets in a safe place and how to buy bitcoin using several existing strategies.

[BlackBoss_]

In my country a diploma is still required to apply for office jobs and if you are not one with a bachelor's degree then work in companies only in the security sector and other freelance jobs. Honestly, I prefer companies that look at skills rather than college degrees because those who have a diploma do not necessarily have skills and vice versa.

You can learn at college, university, get a degree, find a job and work for money or work for Bitcoin directly.

There are many jobs in cryptocurrency and if you have skills in graphic design, marketing, community management, business development and technical skills for customer support, you can find jobs.

Cryptocurrency job list

It really depends on where you put your money and if bitcoin is an option you want to pursue then I totally agree with that plan. If college is no longer necessary

I disagree because education is key to have a solid life and can help you to go through hardest time in your life. Nowadays, with open source, Internet, free courses, you can learn even without paying any fee. You don't have to go to college to learn but learning is very important.

[michellee]

In other countries, a bachelor's degree may still be required and is a requirement to be accepted for work. Many companies still require a bachelor's degree, and many people are queuing to apply for these jobs. And even though the savings plan for achieving a bachelor's degree has been eliminated, they still need savings. At least to prepare for other urgent matters.

Besides still having savings, they can save their money through Bitcoin. That will give them the opportunity to have investments at a young age. And parents who care about their children's future will prepare savings in the form of a wallet for their Bitcoin. They are also still trying to save for their children's school fees.

After the children grow up, finish college, and achieve a bachelor's degree, they can use the Bitcoin in their wallet to open a business or do whatever they want. It is better to have two savings containing fiat money and Bitcoin to back up.

[kryptqnick]

Whether you need higher education or not depends on what sort of job you expect to have in the future and what kind of country you live in. In my country, higher education is highly accessible because it's public, so free for tons of people. But not having any kind of higher education is a major problem if you want an intellectual job. You don't need to have specific education, usually, but it's good to have a higher education diploma because it shows that you are capable of learning new stuff, you are organized enough to meet deadlines, you have at least some soft if not hard skills. I think most intellectual job descriptions require it.
Bitcoin can be good for savings, I think, but obtaining higher education might still be important.

[Ben Barubal]

  Maybe it's good if you're young to prepare for your child's college fees first, even if it's in elementary school or senior high. Of course, you'll also depend on the salary you have as a parent or how much you allocate for your child's school expenses.

  Because, of course, he's going to college, we don't know how much the Bitcoin price value of the crypto you save in this field is. And that also depends on the course your child chooses because there are courses that are expensive, such as law, medicine, and others.

[ancafe]

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.

I like this idea and companies should not need to look at a person's qualities based on their diploma but rather how job requirements can be seen from their individual skills. But unfortunately there are many countries that still consider a diploma to be a mandatory requirement for applying for a job, thus limiting people who have not studied to work in the corporate sector they want.

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?

It's even better when someone can prepare a much more productive investment while working at the company they want because if both can be run simultaneously it will be much better. At a minimum, money from work can be used to fulfill daily needs and the rest can be placed in bitcoin investments, for example. If necessary, we can run both simultaneously and that will be useful in the long term.