Thursday, December 13, 2012
Marc Faber's advice to young people and the meaning of "success"
Greatly appreciated Marc Faber's advice to young people and his thoughts on "success", heard near the 8:00 mark of this interview clip.
Kids today might wonder if they need a college education, or the certification conferred by a degree, to do well in life. Given the rising costs (and diminishing returns) of higher education and the problems of widespread student loan debt in the US, this is a subject for serious consideration.
Faber offers, "I don't think a degree is important. If you have parents that can pay for your degree, then take one. If I had to borrow a lot money to pay for the degree, I don't think I would take one...
"...I would try first to work for someone who is successful in any industry and acquire knowledge from them. Whatever the area, you should like what you do. If you like what you do, you'll do a better job than if you are indifferent towards your job."
Speaking to the idea of success, Marc adds, "I think in life success comes on many different levels. Monetary success is just one of them. If you have a happy family life or you can help other people, these are also measures of success. Our society maybe overrates monetary success...".
Something for people of all ages to consider, now that I think about it. What do you think of Marc's advice? What would you say to young people starting out in life?
1. Ray Dalio: Meditation is the Secret of My Success.
2. Self-Education and the School of Experience.
3. Michael Bigger on Starting Over.
4. James Altucher: 8 Alternatives to College.
5. Gary North: Find Your Calling (Making a Difference in the World).