On Thu, 16 Aug 2007 15:12:24 EDT, wrote:

My nephew and his friend are living with me since a few weeks, till
their parents return from an overseas trip, and both are teenagers
who
will be completing high school next year (May 08).


Unfortunately, during the few weeks they stayed with me, I did not
monitor them closely and the two boys have talked to people in my
neighborhood, places where they were working part-time and got some
ideas about not going to a college immediately after high-school is
more profitable in the long run.

Granted, like most aspects in life the higher the risk, more is the
reward. And, starting one's own business brings its own rewards which
is the reason most people commence their own business or continue
their family business and indeed prosper. But, I feel the boys could
approach that issue after a Bachelor's degree and that time is not
wasted if they actually learn something in a college.


I realize the issue I am facing is not new and people in this group
who are far more knowledgeable can guide me in encouraging the
teenagers to pursue college. I would appreciate any advice.

I don't think that's unfortunate at all!

But in general, I think that's really exciting that these two young
people have been thinking outside the expectations that their parents
and peers have for them. I think too many young people in Canada and
the USA go straight to university after high school without being
aware of their choices or making conscious commitment to academic
life, particularly those whose parents pay most or all of the cost of
their student life. I think that many of them would be better off in
the long run doing something else first, and attending university (or
another kind of post-secondary institution) later, only if and when
they are motivated to succeed.

If you think that these young people are getting mistaken impressions
about the ease of success in entrepreneurial careers, then you would
be doing them a service if you could help them to meet some other
entrepreneurs who would talk bluntly with them about the risks and
sacrifices they've made. Research I've encountered on successful
entrepreneurs suggests that a successful entrepreneur typically has a
university degree, has held several jobs and has been fired at least
once, and has failed at a few business attempts before finding a
success.

It's difficult for parents and supporters to watch young people make
choices other than the ones we would make for them, but it is valuable
and often necessary to let them do so. It is not, of course,
necessary to subsidize the lives of young adults who are working for
pay or choosing not to work for pay, by giving them free room and
board or by giving them money. You might also help these young
people understand the consequences of their choices by helping them
figure out how much money they'd need to live on, and how much time
they'd have to spend keeping house.

Louise