The average cost of raise a child in Australia is $406K from age 1 to 21.
The biggest part of expense is from education. So education is great and very profitable business because parents are so willing to spend money on it.
But have you thought about there are actually 2 type of education play very important role in our life: school and street education.
The biggest part of expense is from education. So education is great and very profitable business because parents are so willing to spend money on it.
But have you thought about there are actually 2 type of education play very important role in our life: school and street education.
Which one is more important? It depends on what do your children most likely to be in the future.
If you want your children to become employee (I believe 80% should be employee) , yes, please spend money on their school education. That is what our parents told us. Go to good school and get the good grade so that you can get the good job after graduate. They are right when they said that. But nobody see what kind of world becomes nowadays. More than 60% of knowledge and tools what you learn in school is totally eliminated by the fast moving technology by the time you graduate. Also, more than 60% graduates will not do what they learn in the university for a living.
If you want your children to become investor and business owner, you should spend more money on their street education. More than 67% successful investor and entrepreneurs are focus on their street education, which is ongoing self-education. They usually don't have good university degree or not even finish high school but the fact is they never stop learning. They learn what is actually working and “need” to their business and investment by paying good mentor and advice.
Eventually, you do your best for your children good (you think you are but you could be horribly wrong) and let destiny lead their own path.
If you want your children to become employee (I believe 80% should be employee) , yes, please spend money on their school education. That is what our parents told us. Go to good school and get the good grade so that you can get the good job after graduate. They are right when they said that. But nobody see what kind of world becomes nowadays. More than 60% of knowledge and tools what you learn in school is totally eliminated by the fast moving technology by the time you graduate. Also, more than 60% graduates will not do what they learn in the university for a living.
If you want your children to become investor and business owner, you should spend more money on their street education. More than 67% successful investor and entrepreneurs are focus on their street education, which is ongoing self-education. They usually don't have good university degree or not even finish high school but the fact is they never stop learning. They learn what is actually working and “need” to their business and investment by paying good mentor and advice.
Eventually, you do your best for your children good (you think you are but you could be horribly wrong) and let destiny lead their own path.
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