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Why so many grads 'fail to launch'
MSN Money ^ | Monday, April 03, 2006 | MP Dunleavey

Posted on 04/14/2006 6:44:37 AM PDT by Panzerlied

Many 20-somethings find themselves moving home to live with Mom and Dad, just like the movie 'Failure to Launch.' Blame it on the inertia -- and some very real challenges.

(Excerpt) Read more at moneycentral.msn.com ...


TOPICS: Business/Economy; Culture/Society
KEYWORDS: careers; graduates; jobs; quarterlifers
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To: M203M4
The best thing a young person can do? Get an education that includes several co-op opportunities. Engineering, science, applied math, health sciences, medical, dental, and business programs often offer these. You get hired on a short term basis (4-8 months), at relatively low pay, between terms of classes, get a foothold in the working world of your chosen field, and inject some reality into your degree.

My company routinely hires summer interns. The advantage for the intern is getting a foot in the door, meeting a world of people doing real work and building a track record. Many of the summer interns make a good impression and have a job waiting for them upon graduation...with pay commensurate with education and demonstrated skills.

When I was in grad school, I took an interest in ham radio. That lead me to getting an FCC 1st Class Radiotelephone License with RADAR endorsement. It was just fun and games. Something to hang on the wall. Getting an Extra Class ham license was fun too. Later, the network of friends I met in ham radio resulted in meeting people at the marine electronics firm. They needed a tech with my licenses, I needed a better job than Radio Shack. Networking does wonders. The job offer that lead me to my current employer was the result of networking at church. While still employed at PacBell, I had substantially helped people with severe problems at my current place of employment. That greased the skids and lead to a job offer hand carried to my doorstep.

141 posted on 04/14/2006 11:04:17 PM PDT by Myrddin
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To: KarlInOhio
And of those two I would rather have another million baristas than a million barristers.

I have a similar dilemma. Which is better? Tai Chi or Chai Tea?

142 posted on 04/14/2006 11:08:56 PM PDT by Myrddin
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To: meyer
This gets me - why on earth does it cost so much to sit in a classroom, listen to a professor drone for 2 hours, and take the occasional test? There's got to be a cheaper way to get this done, especially given the results highlighted in this article.

University of Phoenix gets about $1,000 for a 4 unit class. Graduation typically takes 120 semester units. That's about $30,000 right here.

My nephew just go accepted to U.C. Davis. He will live on campus. Expenses are projected at $23,000 per year. I lived off campus and coughed up $212 per quarter plus $100 in books. Annual parking fee was $40 in 1974-76. Prices have gone way up since then.

My son's former girlfriend went to Georgetown University. Her parents mortgaged the house to cover $38,000 per year. She was on campus when the aircraft hit the Pentagon on 9-11. Today, she is doing graduate work in math at Columbia university with a full ride scholarship. She has to teach in New York schools for two years to pay back the scholarship.

143 posted on 04/14/2006 11:18:04 PM PDT by Myrddin
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To: Philistone
The goal of raising a child is not to create a clone, but to create an autonomous individual. It's harder than it looks!

My #2 son shares my intelligence and tenacity, but has very different interests in life. He will graduate with his degree in business in July. Meanwhile, he is a licensed real estate broker in San Diego with two real estate corporations and about 15 employees. He will turn 23 next Tuesday.

144 posted on 04/14/2006 11:21:29 PM PDT by Myrddin
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To: RobbyS
Actually, English majors --those who can actually write--find employment. As one can tell by reading what we put up here, good writers are rare.

I have a couple good quality technical writers. They are employed on high priority projects from day one. What is special about these people is the capacity to grasp the subject matter and interact with the architects and designers. They often contribute great ideas while doing the critical job of capturing all the important ideas. Making them part of the project team from the start ensures they completely grasp the concepts and are prepared to express them accurately.

145 posted on 04/14/2006 11:29:06 PM PDT by Myrddin
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To: M203M4

Very good advice you gave there...young folks should take heed.


146 posted on 04/14/2006 11:32:37 PM PDT by teldon30 (Far right, elitist, sexist, cynical religious bigot and looter)
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To: Future Snake Eater

Thank you for that website. Amazing!


147 posted on 04/14/2006 11:35:26 PM PDT by StarfireIV (John Galt was an optimist)
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To: mysterio
It's usually a bunch of older people who graduated in the 60s talking about those damned lazy youngsters. In reality, they didn't graduate into a world where 50% of your income gets eaten up by taxes in some form, student loans mean you owe 8 million dollars for four years of bloated college tuition, and employers are bringing in H1Bs from other countries who will work for much less.

It takes a while before 50% of your income is being eaten by taxes. The average college graduate doesn't make nearly that much money. My son will graduate with about $23,000 in outstanding student loans in July. That was accrued on top of the GI bill after service in Iraq/Kuwait. He still has 18 months left with the USMC. His current goal is to full pay that off in the next year and start building enough savings to cover law school. He wants to wait until his obligation to the USMC is complete so they don't hamper his choices of law school.

148 posted on 04/14/2006 11:36:24 PM PDT by Myrddin
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To: Panzerlied

I don't mind a collection of educated plebians ready to clean my boots. I have no problem seeing the lazy fail. Less competition means more potential success for myself and my family.


149 posted on 04/14/2006 11:37:26 PM PDT by Porterville (Si Se Puede!!! We can stop businesses hiring illegals!!! Si Se Puede!!!)
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To: mysterio
Same thing here. Graduated in the late 90s and I'm just now starting to feel a bit financially stable. Of course I'm not married yet and I suck at money, so factor that in, I guess. Those first years out of school were pretty lean.

I pointed my son to a copy of Dave Ramsey's Total Money Makeover. He got the point. His credit card balances were gone in 3 months. Now he is working on tweaking his credit rating and stashing some cash to purchase some property. Being a broker will materially improve his "getting started" costs as a new property owner.

150 posted on 04/14/2006 11:41:10 PM PDT by Myrddin
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To: ran15

I remember sheetrockers back in the 70's made around $10/hour....illegals doing it for the same price 30 years later.....go figure....i wonder how much the price of cotton went up after the civil war?


151 posted on 04/14/2006 11:47:02 PM PDT by teldon30 (Far right, elitist, sexist, cynical religious bigot and looter)
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To: ScubieNuc
When we send our daughters off to college, are we buying into the Feminazi belief that a career is more important then being a wife and homemaker?

Consider those skills to be a great plan B. I permit my wife to have a job. We don't need the income, but I had cancer in 1985. I'm still here, but that could change with an airplane crash on a business trip or while actually flying for work related tasks. I've paid off the mortgage, stashed lots of cash for retirement and carry a good term life insurance policy. Still, there are ongoing costs. Our property taxes eat $3,400 per year. Utilities eat about $250 month. That pesky habit of eating takes money too. Her employment will ensure more than enough income to keep the house and live comfortably.

152 posted on 04/14/2006 11:48:29 PM PDT by Myrddin
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To: RightWhale
Some just starting out now should try for a trade such as pipefitters or welding.

The pay may look appealing, but I have many friends who are retired welders who live in perpetual pain from flash burned retinas. The job is like a professional athlete. Good pay while you can do it, followed by a miserable disability retirement.

153 posted on 04/14/2006 11:51:07 PM PDT by Myrddin
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To: mysterio

re post #96 - excellent summation. Those who are being critical of recent grads on this thread are demonstrating piggish ignorance.


154 posted on 04/15/2006 12:04:38 AM PDT by KantianBurke
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To: Myrddin
University of Phoenix gets about $1,000 for a 4 unit class. Graduation typically takes 120 semester units. That's about $30,000 right here.

Why anyone would pay that much for mail-order college is beyond me. There are more than enough community colleges and state University extensions out there to give degrees with more prestige and less cost.

155 posted on 04/15/2006 12:15:54 AM PDT by hunter112 (Total victory at home and in the Middle East!)
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To: ScubieNuc

"I think a mandatory two year service time for all 18 year old males would do the U.S. some good."

Our all volunteer military would be harmed by the introduction of your "character building" recruits. So please disabuse yourself of such totalitarian notions.


156 posted on 04/15/2006 12:23:59 AM PDT by KantianBurke
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To: darkwing104

Hey! I liked the other duck picture! It had more "panache"! :-)


157 posted on 04/15/2006 12:25:55 AM PDT by wolficatZ (__________________\0/__ /|_________HELP, SHARK!___)
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To: KantianBurke
"Our all volunteer military would be harmed by the introduction of your "character building" recruits. So please disabuse yourself of such totalitarian notions."

Not necessarily. The military could maintain it's high standards of recruits, while the other service area's could take in the "less desirables."

As far as thinking that such a plan could be implimented now in our society, I realize that we are too weak to attempt that now. Heck, G.W. didn't even impliment the draft after we were attacked on 9-11. If that wasn't enough momentum to do it, I would hate to see what would be able to do it.

By the way, Switzerland and Canada, had similar "totalitarian" type programs. Whether those programs are still around, I don't know.

Sincerely
158 posted on 04/15/2006 7:07:48 AM PDT by ScubieNuc
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To: Myrddin

See post # 128


159 posted on 04/15/2006 7:10:07 AM PDT by ScubieNuc
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To: rhombus

No, we keep going to school because that's whats required of us to keep our credentials cleared.

And yes, many of us do live in the real world.


160 posted on 04/15/2006 7:15:52 AM PDT by senorita
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