Herb Kay's S.O.S. System
  February 3, 2010
  "I'm Herb Kay and the most important thing to know about me is that I'm not going to lie to you or pull your chain. Ever. In my S.O.S. Guides, I give you, well, guidance, in a straight-talking and step-by-step way. The website offers the "advice side" of my system. Here, in my blog, I'm going to dig a little deeper and get a little grittier. That's the opinion side of my system. Will I say something that might shock you? Maybe. Will I ruffle some feathers? Perhaps. Will you close the page with some food for thought? Absolutely."

The Herb Kay Way is the straight forward, never-mince-words way. Check out Herb's latest blog on your money, your career, your debt, the economy and the world we live in.
 
Pursuing Worthwile Goals
When Downsizing is a Powerful Tool
Can We Address the Important Issues?
Just a Sentence or Two.....
A Dose of Reality
Getting Involved and Taking a Stand
Study Up on Your Loans
Drop Back Ten and Punt!
Who Can you Depend On?
Some Sobering News About the Economy
Grab a Beer and Take the Slide Home......
Another Loophole, Another Lesson
What is Your Core Conversation?
Loyalty and Leadership
The Argument for Being a Grownup
The 'Business' of Complaints
Electricity in the Air......
Taking a Hard Look at the Figures
A Public Life
My "Advice" to You
Perspective vs. History
Worried Sick!
It's About the Kids!
Gooooooooaaaallll?
Where Will the Money Come From?
Immigration Arguments: Debunked!
Blame Policy, Not Banks
Happy Birthday America!
Crony Capitalism
G8/20 and What That Means For You!
Our Economy and the Free Market
Building a Bubble?
"Fixing" Our Problems
The $20 Billion SNAFU
A Screaming Deal!
Action Breeds Success!
It's Going to Take Some Effort!
Getting Our Lives Back
For Better or Worse......... I Prefer Better
The Pressure to be President.......
This Great Nation......
Financial Reform - Ha...what a joke!
Municipal Bonds are a thing of the Past!
Feeling Good!
Moving Forward
The Signs Are All Around Us
It's a Grim Diagnosis
Oh, the Pressure.....
The Big Fat Greek Fallout
It's Getting Ugly......
Perfection is a Myth
Be Different
Moving on While Moving Ahead
An Immigration Abomination
I've Got a Question.......
Logic vs. The Logistics of Inflation
The Free Market - Greed at its Very Best
Informed on Inflation
Don't Fix What Isn't Broken
Harnessing Energy - The Herb Kay Way
Staying Ahead of the Curve
What Trade Deficit?
Greek to Me
There's a Bridge in Brooklyn......
Problems That Don't Exist
Don't Invest in Mediocrity
The Fed's Mutually Exclusive Roles
Deadly Serious
Election Year Scapegoats
"Willfully Insane"
Balancing your Beliefs - How Our Political Convictions Influence the Debate Over the Economy
Let's Reward the Renters
Don't Plug the Hole.......Replace the Bucket!
Europe's Safety Net
The Collapse of the System
Apple Makes a Lemon
Pot, Capitalism & The Free Market
Who is Your Banker?
Real Estate? Now is NOT the Time!
Grading on a Curve
When the Inflation Stars Align
When Foolishness Goes International....
The Recovery?
The Competitive Advantage of Reaganomics
What Wednesday Brings.....
Stopping The Addiction
Signing On The Dotted Line
Be Optimistic - Not Foolish
The Real Story
Selling Your House (and your credit) Short!
The Entitlement State
It's Anyone's Guess
Ask, And You Just Might Receive
Crazy Like A Fox!
It's Only Tuesday!
Spending Some Time - Cutting Spending
There's No Such Thing As Easy Money!
What Exactly is Responsible Borrowing?
Just Bite The Bullet
With Change Comes Turmoil
Q & A......The Herb Kay Way!
Wanna Bet? Gamble on Inflation!
A Lesson on Education
Two Different Beasts: Why Price Does Not Equal Wealth
For this Party - Three's a Crowd
Good Luck With All of That!
Dear Mr. Bank President:
It's Not That Simple
Raising the Stakes
State of The Union: The Herb Kay Way!
Capital Gains - Your Pains!
Cooking the Books
What's in a Name?
Questionable Choices: Healthcare Reform
And the Person of the Year Is......
A History Lesson
Goverment's Stimulus Fairytale
Let's Hope I'm Wrong
Fake Money = Real Problems
Collectors Lie
35 Million Americans Can't Be Wrong
Simple Truths, Simple Lies
Lending and The Federal Reserve: Why Making Banks Rich Again Will be Bad for the Economy
Are You Health Care Aware?
Have Good Credit? With New Legislation in the Works, the Question is, Who Cares?
Healthcare and the President
Tips for Choosing a Bank and the Right Bank Account
 
A Lesson on Education
 

The thing that I am most proud of in life is being a parent.  Sure, I love what I do, but I  love being a father a whole lot more.  I cannot tell you what joy that brings me to know that my kids would likely describe me as such - that’s a pretty good survey base!

So, from one parent to another, I wanted to share a little advice about our children's education.
I have sent all four of my kids to Catholic school. That meant paying property taxes to fund the public schools while I paid tuition to the private school on top of that and I did it with a smile because the education that they are provided with is something I appreciate and in my opinion, affords my children the best possible head start to college.


And speaking of college, I am beginning to wonder how smart it is for us to push our kids into college in the first place. It has been essentially expected that college graduates earn more, a lot more, over a lifetime than a high school graduate.  But I am starting to see studies that show the difference is not very much and when you combine other factors like job security and debt levels it may be time to rethink how we counsel our kids. Here's a thought; is raising your children to believe going to college is their only way to a great job actually true?  Let's examine the reality behind the dream, shall we?


For the last 50 years or so the American education system has gotten worse and worse.  This in spite of spending, even in inflation adjusted dollars, much more than we ever have.  This has driven about a sixth of parents (obviously, myself included) to send their children to private schools, a huge expense, on top of the oppressive property taxes they pay on their home to finance public schools they don't use. Then, after they have tapped themselves out on that or moved to better school districts with much higher property taxes which leads to the same net affect on family finances, they push their children into college to provide the gateway to a "better job".

And why is college necessary for that good job?  Because aptitude testing, a euphemism for IQ tests, has been all but phased out of the curriculum (although many European schools use aptitude tests as a “leaving certificate” for high school, rather than a “entrance exam” for acceptance to college). I am not here to argue the wisdom of this choice, but the curriculum has somewhat disarmed a means to determine the underlying intelligence of a would- be employee. Common practice has now made a college degree a requirement - on the assumption that if a person could complete a four year course or more of higher education successfully he or she is likely at least of average intelligence.


So now, especially when unemployment is high, we find ourselves in a new time, one of outsourcing and job loss.  What kinds of jobs are the most easily outsourced?  Clerks of various flavors head the list.  In my own company rather than add staff I regularly outsource.  Most smart employers do and many of those jobs head overseas.  I mean, what does a degree in business really mean or qualify a person for?  The truth? To be some sort of clerk/shift supervisor/assistant and therefore easily replaced.

An even more recent study on the subject put the 40 year earning difference at about $270,000.  That's only a little over $6000 per year and then if you add in things like huge student loans to the mix – it starts to cancel out some things. The fact is, that unless you are highly specialized - college for most people trains them to enter the work force as a mid-level employee of sorts, one is easily outsourced or replaced, and well…….typical, if not really common. This leads me to wonder - perhaps being a tradesman, like an electrician or plumber, which cannot be outsourced overseas and makes a great living might be a better place for most people. Not to mention the elimination of student loan burdens that have to be repaid and cannot be discharged even in bankruptcy.  It's just a thought.

So, before you push your kids into an expensive college education in the midst of a deep recession it might be a good idea to research your local junior college as a place to receive a strong technical education is something that is high paying and safe from foreign competition.  It would be a lot cheaper, and if you think about it, more effective in providing for your kids' long term future and happiness.  Anyway, it is something to think about!