Index

1. Costs of a College Education 2. College...is it worth the price? Steps to take when saving for college 3. Make yourself a plan 4. Getting started early 5. Help for the late starters 6. Educational IRA and Investing Strategies

You may be debating in your head if you really want to spend all that money on a higher education. Or maybe you just don't want to spend another four years in school. Whatever the case may be, you need to realize some of the advantages.

Niccolo Machiavelli is known in history for his comment that "the end justifies the means". This quote also can be applied when considering a college education. Although a college education requires more money and more studying, what you get out of it is often more than what you put in.

The average high school graduate earns $22,000 per year while the average college graduate earns $42,000 per year. That is quite a big difference. And here's an example to show how that can add up over time.

• Bill graduates high school and finds a job paying $20,000 per year. He works from the age of 18 until the age of 65.

• Joe graduates high school and enters college for 4 years, paying $55,000. After 4 years of college, Joe is offered a job which pays $40,000. He works from the age of 22 until the age of 65.

A college diploma also offers some more advantages. When working, many people worry about job security. A college degree helps lower these worries because it gives you an edge over a person without one. In many cases, whether or not you have a college degree is a deciding factor when you apply for a job.

I don't know about you, but I'm already sold on a college education. I wouldn't mind having an extra $725000, a more comfortable retirement, and more job security even if it means 4 more years in college and a large college bill. To me, that is a good investment.

Next: Make Yourself a Plan