I started a thread on LinkedIn about why attending college is necessary, and I received several responses, ranging from “a cost-benefit analysis needs to make sense” to “if you don’t know what you want to do, don’t go to college.” By the way, I have not met an 18-year-old who knows the meaning of the phrase’ cost-benefit analysis.” Looking around LinkedIn, I see people with a degree in one thing, doing something completely different. Now, maybe it’s just me, but I attribute that to poor parenting.

Your parent(s) or the older person you live with has one job. They teach you moral values based on some form of faith. Getting an education should be part of those values. If they are not, your parent(s) or the older person you live with has failed you. You know they say, “You don’t have to like your parents, but you do have to respect them.” To that I say, “Respect works both ways – I will respect you today, and you need to respect me tomorrow (after I have grown up and listened to everything you said).” That last part is hard to understand when you’re 12 or 15 years old, but I understood it at that age. Because my Dad put that in my head. I respect him today. It’s been 7 years since he passed away, but now it’s my turn to teach my 22 and 19-year-old kids all that my Dad taught me.

If you are going to spend time and money doing something, you need to make sure that you will benefit from that activity, either short-term or long-term. For that to make sense, your moral compass must be strong. Knowing the difference between right and wrong is part of that. Another key aspect is understanding what will ultimately benefit you. Earning multiple college degrees has not only helped me, but it has also enabled me to stay ahead of the curve.

My rule for my kids: you will earn a Master’s or Ph.D. degree, and you will have no student loans when you complete the process. Why? Because I will pay for everything. You’ll thank me later!

As for my retirement, it’s pretty clear that living in America is not a viable option. I will need to find a low-cost country to live in. Thankfully, I already know one that accepts US Citizens into their country. India! By 2029, it is predicted that the USD to INR conversion rate will be 1:100. That is not a typo. For every $1, I will get Rs. 100. Trust me when I say $1000 goes a long way in India!