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A Somewhat Balanced View on School and Dropping Out

I dropped out of school during my sophomore year of college. I was a little bit scared to do it, but I followed through because I was certain that I didn't want to get a normal job or do anything else that would make use of a degree. Dropping out was one of the best decisions I've made, and it pushed me towards the life that I really wanted to live.

However, just because dropping out was right for me doesn't mean that it's right for everyone, or for you. I think that the school system is trending towards obsolescence and is a far worse value proposition that it was in previous eras, but that doesn't mean that it's worthless or that it's not the right choice for a lot of people. You might be surprised to find out that when people email me to ask if they should drop out, I tell many of them that I think they should stay in school.

When I talk about dropping out of school, by the way, I mean dropping out of college. Unless you are home schooled or have a very good plan for learning useful life and social skills, I think that at least completing high school is a good idea. I also think that taking some college is a good idea for many people. Going for a semester is a fairly small investment of time to figure out if it's a good fit for you, and you can also completely disregard course guidelines and take interesting things like Chinese and scuba diving.

If you're in high school or entering college, the most important thing you should realize is that you alone are responsible for your education and your life, and that you should use the next four years in the best way possible. Forget about labels like graduate and dropout, and focus on what is best going to prepare you for the life that you want to have.

Should non-professionals research their own investments?

On SEBASTIAN MARSHALL

Patri Friedman left this very smart comment on the convincing arguments post -

I’m pretty skeptical of whether researching investments is a good idea for non-professionals. Financial speculation is fun, but you are competing against specialists who have spent their whole lives studying the subject, have teams of researchers, and are betting so much that they can afford to buy the best computers, data, etc. I think almost everyone should just buy the Vanguard Target Retirement 20X0 fund.

The exception is if you’re in the startup world & you know people who you trust & respect who are doing startups, angel investing in them w/ 10%-20% of your income makes sense to me. At worst you’ll lose a little money & learn a lot about who to trust & how startups work. Another is if you know a city/region/country very well and want to own property there – ownership has advantages (ie we have done extensive customization of our cohousing community here in Mountain View) and since it’s such a big asset it’s definitely worth researching.

This is a great point.

I've been studying a lot of finance lately. One that I've really enjoyed is "The Intelligent Investor" by Ben Graham.

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