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February 11, 2018

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Why Millennials Will Become Millionaires by 2020

February 11, 2018

 

Within the next 5 years, many millennials will become millionaires.

 

I believe that students could graduate high school at age 16 if they wanted to. In just a short time, they could learn calculus, world history, college-level vocabulary and writing, and other necessary subjects. Truthfully, they could probably learn a dozen languages too.

 

By 18 years of age, they could have a master’s degree; by 19 or 20, a doctorate. They could do all of this while cultivating relationships in school and even participating in extra-curricular activities, like sports or work. Plus, they have enough time to 'grow up' too. 

 

Read the last two paragraphs again.

 

Now, think about all the wasted time in school:

 

--Teachers who start 10-20 minutes late

--Reckless students who steal classroom time

--Fire-Drills and Assemblies

--Study Halls and Extended Lunch Breaks 

 

Students Can Be Entrepreneurial
 

I believe the average student could be more entrepreneurial. Instead of going to school for 8 hours per day, they could go to school for 4 hours per day. In fact, they could get to school from 7-11 am, 12-4 pm or even 4-8 pm. They could go to school 3 days a week and still get the same amount of education, or more.

 

During their free-time, they may take entrepreneurial based classes. They could become an apprentice for a real business owner too. As they take on more real-world assignments, they could finally gather the courage to start their business full-time.

 

If this is the case, then why do students have to wait so long before they graduate? Is it because they have to 'grow up?' Is it because they can’t handle the real world? 

 

Actually, they can handle the real world.

 

Teenagers could do almost everything adults can do, especially after the age of 16. Just look at millions of young producers in 3rd world countries. They can build and grow store-fronts and peddle virtually any product. If they can do this, I'm sure they can handle a 20 hour work week.

 

But Why Aren't They Working?
 

However, when you take a look at the global economy, you'll find that the real reason why teenagers aren't employed is because there aren't enough jobs. Since there aren't enough jobs, teenagers must stay in school.

 

It's like a 'babysitting' plan for parents. Because parents are too busy working, these young students stay in school for extended years to get their 'education'.

 

But why aren't there enough jobs? The answer is simple: There aren't enough entrepreneurs. If you look at the latest research, you'll find that 10% of the world's population are entrepreneurs; 90% are employees. Entrepreneurs are the ones who create jobs for the 90%.

 

The reason there aren't enough entrepreneurs is because schools don't promote it. I'm sure you've heard the statistic, "98% of business’ fail within the first 3 years."

 

These statistics usually come from a professor who's never had a business. If this is true, it’s because we aren’t educating entrepreneurs well or providing them the proper tools to succeed in business.

 
Where are the Entrepreneurs?
 

Unfortunately, students don't have access to real entrepreneurs while in school. They see entrepreneurs on television or maybe even hear about relatives who are in business. However, they rarely get the interaction that they need from those who've been in business.

 

In short, they 'don't know what they don't know' about business.

 

When a student is searching for a career, they look for the highest paying jobs: doctor, lawyer, engineer, pharmacist, etc. When they find their results, they never see salesperson or entrepreneur, which are actually the highest-paying professions, as an option.

 

Students seldom know what to think about these 'stats'. When they seek counsel, they're told that they need more experience. They need to get their 'feet wet'. Usually, it's the 90% (employees) who tell them this. This same employee enforces the fact that the students 'go to school, get good grades, and get a job'. 

 

Many of these employees who give this advice are called 'parents'.

 

Schools Kill Creativity

 

As these entrepreneurial students sit through school, their creativity diminishes as they are forced to pass dozens of tests for multiple years. Whether the tests are multiple choice, short answer, or even essay--most of these ambitious students study unnecessarily hard to regurgitate superficial answers.

 

If they don't take these tests seriously, they get low grades or even fail. When these students find out that they aren't as worthy as the other students who excel academically, they lose confidence. Their self-esteem diminishes, which often leads them to the wrong path.

 

How do I know? I was one of these students.

 

When these students look for answers in life, they cannot find them. They try to talk to their parents and teachers, searching for leadership. When they do, these students hear the same answer: get good grades--or else! It seems to be an endless, vicious cycle.

 

There seems to be no alternative to school. 

 

Let's go back to the kid that graduates high school around age 16. Obviously, there are many entrepreneurs who can help this student prosper. I know many business owners who could use a social media manager, videographer, or even errand-boy. However, because of child-labor laws, these youngsters are unemployable.

 

Even if these young students could work for entrepreneurs, parents would go crazy if they saw their 16-year old's working for an entrepreneur. They would call it a 'dead-end' job if the business they were working for wasn't big enough.  

 

Alright, then what do we do? Ideally, if a child could work at age 16, they would be employed full-time. If their parents allowed them, they would study part-time throughout their teens and start a business by age 18-21. They would move out by 20-25, fully capable of conquering the world.

 

It's possible--I became financially independent at age 24!

 

Today, we see adults in their 30's and 40's who still live with their parents. It's the academic system that has failed them. Since a dejected student has learned that school is his only way to success, they fail to take education into their own hands.

 

School is NOT the Only Way
 

It's a tragedy that most people think that school is the only way to provide an education. In due time, there will be a total revolution to our education system. Students who graduate from college at 22 will realize that their college degree is worthless. The master's degree is already being 'watered-down'.

 

So is the doctorate degree.

 

When today’s students start their lives in their mid-20's, they will realize their debts will not be paid off until their 30's or 40's. Because of this real-world education, they will tell their children about the perils of school. Maybe some of these parents will convince them of alternative routes of education.

 

Alternatives to School
 

Thankfully, future students will be watching YouTube videos by people like me. They will pick up books and devour worthwhile articles. In their free time, they'll get a real education while they halfheartedly attend a broken school system. Eventually, more teenagers will stop going to college for higher education. Perhaps, some of them will drop out of high school.

 

This already happens--high-school drop-outs are at an all-time high.

 

More teachers will become more entrepreneurial too. They will start utilizing social media and teaching online and offline. There are already start-up businesses who have a vast number of these teachers. We need to harness the power of these educators to change the educational system.

 

Schools will start getting desperate. They will begin to accept unqualified professors and teachers, creating more disgruntled students and parents. These schools will seek funding, which will sap your tax dollars.Tax-payers will soon get fed up with this trend and will rebel against the broken school systems.

 
What can you do about this? 

 

Inspire our youth to be educated the right way and take education into their own hands. Teach them how to attend seminars, hire a coach, read more books, and digest good articles.

 

Teach them it’s not necessary to drain tens of thousands of dollars to obtain a piece of paper (college degree). Help them understand that most formal schooling will systematically brainwash people for multiple years.

 

Work to help refocus our schools.  Schools that teach the truth. Schools that introduce the idea of business into their curriculum. Schools that make entrepreneurship a real option. When we have schools that can do this, more millennials will become millionaires within the next 5 years!

 

Daniel Ally

www.danielally.com

 

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