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Is college even necessary to be financially independent?

I'm not sure which field to pursue. To be financially independent, which college major is the best (ex. marketing/business)? And how do I find the motivation or way to start?

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gregory’s Answer

No, it's not a necessity, although it could potentially boost your earnings. When it comes to choosing a career path, it's best to follow your passions. This way, you'll enjoy what you're doing as you age, rather than resent it. Financial independence is achievable through various means, so you don't have to stress about paying bills or running out of money. Every college major is unique, requiring different investments of time and money. For instance, aspiring doctors need at least 8 years of college education to reach a comfortable financial status, while future teachers can start their careers with 2-4 years of study, though the salaries may vary.
Thank you comment icon Thank you for your advice! Hannah
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Jennifer’s Answer

Hi Hannah,
If you are finding motivation for college/university a bit challenging, my first piece of advice would be to wait. There's often a feeling like we need to go straight from high school to university, but it's okay - and actually very helpful - to take time to explore different options, try some informal internships, gain some work experience. Often this time away from learning can help us figure out and focus our interests, and can also renew our motivation. Many students feel a bit burned-out when finishing high school and aren't inspired to continue learning - a break and some work experience is a great way to address this lack of inspiration and ensure that if and when you do go to college/uni, you get the most out of it. Experience will also give you helpful perspectives that can add to your learning and often put you ahead of others in what you're able to absorb and contribute in college courses.
On the financial independence question, and what to major in, it really depends on your interests and what you excel in. You could choose a major, like law or business, that's known for higher-paying jobs, but if you aren't interested in/don't enjoy those fields, or find the subject matter difficult, motivation will be challenging to maintain.
Ultimately, financial independence will come down to being intentional about what you do and owning the choices you make over the course of your life and career. For me, I've been able to achieve that by remaining open-minded, trying new things, taking smart risks - like accepting a job/opportunity that differs from what I was currently doing or had planned to do - which has made my path richer and helped uncover options I didn't (and couldn't) have known about when graduating from high school.
I hope that helps and wishing you all the best!
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Valerie’s Answer

Hi Hannah,
No it's not necessary to go to college. However, it depends on what you decide you want to do. Ask yourself these questions, what do you like to do right now? What has interested you in the past and now? Are there any organizations you can join and experience? Are there groups you can join within your community and get a feel for what it would be like to work in that field? Is there a family in a field you are interested in? Volunteering is a great way to network and meet people in that field and ask questions. Once you find the career path you want, do you need college right away or can it wait while you get experience and money to afford college?

College majors for financial independence: Science, Technology Engineering and Mathematics known as STEM, Business and Finance, Helathcare Majors, Computer Science and IT, Economics and Engineering.
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