3 Interesting Facts to Consider When Choosing a College

This time of year, it is important for high school Seniors (and Juniors) to consider their plans after high school. The FAFSA process begins on October 1st and check out our recent blog post for more information. Below are some things to consider whether to go to college or not as well as what majors to consider.

  • Below are jobs considered the best to have for the future:
JobGrowth Rate
Median Annual Salary
Physician Assistant35.3%$104,986
Nurse Practitioner35.2%$103,947
App Developer30.4%$100,857
Information Security Analyst27.2%$95,506
Physical Therapist27.1%$85,694
Marketing Research Analyst24.4%$62,828
Health Services Manager21.0%$96,517
Financial Manager19.1%$122,733
Computer Systems Manager14.4%$138,142

Source: Kiplinger. https://www.kiplinger.com/slideshow/business/T012-S001-best-jobs-for-the-future-2018/index.html
*Source: Bureau of Labor Statistics 2016-26. https://www.bls.gov/careeroutlook/2017/article/occupational-projections-charts.htm#Chart%201   

  • There are high paying careers that do not require a college degree. We have several clients that are small business owners in common industries (i.e. construction, chemicals, etc.) that do very well for themselves. If college is not your thing, the best option is to learn a specific skillset whether it be a lineman (median income about $65,000) or a healthcare specialty. Here is an article that shows the top 10 jobs that make over $79,000 a year without a college degree.
  • If you are going to college an important aspect to consider is the Return on Investment (ROI) for the college you attend. This measure shows you how much you can expect to earn after college in relation to the cost for your education. Below is an interesting chart from payscale.com showing the Top 10 schools for ROI. Interesting to note some schools are specific technical schools like SUNY Maritime College and Colorado School of Mines.

There are many things to consider when deciding on what college to attend. If you would like to learn more please listen to our upcoming webinar on education planning.

Best Careers and Jobs for Seniors

The old view that retirement was just sitting on your porch or watching t.v. has passed. The reality is retirement allows you to do what you want to do. For many, this comes in the form of a second career pursuing a passion like one of our clients that started to sell quilts and knitted goods and makes a tidy profit. For others, it means still working, but in a field or job that brings them personal fulfillment like working for a non-profit or government agency to help others. Let’s take a look at some of the best companies and second careers to consider:

Great Resources:

1. AARP Job Search Resources For Those 50+

2. Steady – Great resource for finding gig and part-time work

Good Part-Time Jobs:

1. Consultant – Do you have specific knowledge in a niche that others can benefit from? You may be able to leverage your experience, contacts, and knowledge into a fulfilling side business.

2. Tutor – Now more than ever tutors are in high demand as education has shifted to a virtual model and some believe this shift will become permanent. If you have knowledge in a topic, like to teach and are a little tech-savvy this can be a great option.

3. Tax Preparer or Bookkeeper – These are positions that are still in high demand and can be done virtually. If you have a background in these areas they are great options to consider (i.e., we have seen a former project manager become a bookkeeper since they have a similar skillset).

4. Independent Contractor – This is more difficult in some states like CA due to legislation but can still be very rewarding. If you have a skillset form your previous occupation or side skills (i.e. handyman) sell your services to others.

5. In a post COVID world – Alternatives that require contact with others include child or pet sitting, become a host (i.e., Airbnb), virtual assistant, or personal shopper.

Keep in Mind:

1. Be careful with some Gig jobs since the pay could be at or slightly above minimum wage.

2. It takes time to build a business if you start one. It is not a bad idea to start building the business before retirement if you can, so it is profitable when you retire

3. Traditionally government agencies, hospitals, tax preparers, and education have been favorite places for older individuals to work.