How to Save Your Kids $70k
March 17, 2017My daughter had a flat tire and I went over to put the spare on and drive it to the shop. Unfortunately, the toy the manufacturer calls a tire iron was never going to get those bolts loose even with my extra pounds of “leverage.” Fortunately, two juniors drove by and asked if they could help. One of the guys was on his way back from automotive tech class and had a trunk of professional equipment. We had that tire swapped out in no time and I asked more about their plans.
The guy who wants to be a mechanic has plans to work out of high school while becoming an A.S.E. certified mechanic. His buddy is learning welding and plans to become a master welder. Because they started looking into these programs a couple of years ago, they have a plan for a career with minimal, if any debt. What a great situation for a 16 year old kid!
Think about it. A typical student who doesn’t do the work upfront could lose $65,000-$70,000 just from one extra year of college costs, student loan interest and lost wages! So what can you do now to save your kids $70,000?
1. Meet with the high school guidance counselor when your student is in 8th grade. Find out what career exploration programs the school offers.
2. Encourage your child to take the aptitude tests and discuss the results with them. Ask them about what they enjoy doing in general terms.
3. Work with your child and the counselor to find the intro classes for a couple of their interests that can be electives during their freshman and sophomore years.
4. If your student has found something that excites them, now you can focus on their electives, job shadowing and school choices.
Look, not every kid will have it figured out by 16. I know that I didn’t and that’s okay. But if they do find a vision, whether they want to be a surgeon, programmer or a welder – those 4 simple steps may be your $70,000 graduation gift!
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