MONEY: Education is like any other investment

Sunday, December 2, 2007

http://www.moolanomy.com/74/7-mistakes-i-made-when-i-went-to-college

***Begin Quote***

1. Not considering the return on investment

Education is like any other investment — i.e., there are good ones and bad ones. Aside from your house, this is probably the second biggest investment you will be making. The problem was that my heart was set on going to an Ivy League school, and I stupidly turned down full scholarship to the University of Michigan at Ann Arbor (a top notch school). In short, I was young and irresponsible with money (my parents’ money). If I went to Ann Arbor instead I would have saved them about $20,000 a year (after scholarship and financial aids), and that was in 1991. If I had instead saved and invested that money, it would be worth about $265,000 today (at modest 8% annualized gain).

Was my Ivy League education worth $265,000? Definitely not! I do not think I would make any less money today, if I had gone to Ann Arbor.

***End Quote***

Is it really?

I agree that on one level (i.e., I spend X; I then earn Y; if Y GT X, happy, else unhappy) one might think of it as an “investment”. Comparing the IVY to a STATE is more difficult than it seems.

One reason that immediately leaps to my mind is that this is not a “repeatable event”. Probability theory is built up around roulette wheels, dice, and cards. The student is a UNIQUE (i.e., a unique individual with free will). Selection of a college isn’t a repeatable event. As a high school senior in the US you only get one choice. And, it’s destructive. You don’t get to rewind the VCR as in the movie “groundhog day” and get to run repeated trials.

Another reason is that your experience colors everything — every single blessed thing — you do after that point. Your perceptions, your thinking, heck even your speech and the words you use are different. And, it “labels” you to other people. You’ll always be the “Ivy League” guy.

So static analysis is pointless.

In the cited case, you can’t even assume that the mythical 265k — and it is mythical because it exists no where in your own mind — no where — would have been “saved and invested”.

You can’t even be sure that where you have to chosen STATE over IVY, that on the first day of school, as you were crossing from the bus stop to the campus — cause in your mythical dream you’d have saved money on a car and taken the bus — that crossing the street you were hit by the big dump truck. (Hey if you can imagine a “college student saving money” then I can make “runaway dump trucks” materialize as well!)

Nope, that is why they are called “decisions”. One choice precludes (“cide” means to cut) all the others. You come to that proverbial fork in the road and you do a Yogi Berra taking one. Peck advices taking “the one less traveled”. You will never know in this lifetime what would have been if you’d gone down the other one. It’s all guesswork and speculation.

It’s a question philosophers have struggled with like forever. Duh! It’s really easy. The one you took was by definition the “best” one. Unless your were deluded, high, or defrauded, then you chose the one that your perceived “best” at the time. “Right” is left to the Intelligent Designer to decide.

imho.

So, I’d that the premise is flawed. Education is different and unlike other investments.

Interesting exercise though.

I don’t know if my Mom’s money and my time was well-spent by my education? Hope so. But, I don’t “know”!

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JOBSEARCH: Do You Have A “Slash Career”? No, “career” is a meme for the trash heap imho!

Saturday, December 1, 2007

MY RESPONSE TO A VERY BAD MEME (What’s a meme? Click here MEME)

>Do You Have A “Slash Career”?
>Posted by: “Vincent Wright”
>Mon Nov 26, 2007 9:13 am (PST)
>I was just introduced to what I’ve been doing for the past 20 years:
>indulging in a “slash career”
>If the term is new to you, the concept likely isn’t.

I’d probably assert that what was once my career, “Information Technology”, is no longer. It’s been destroyed by US government (aka gooferment) policy, the unintended consequences of those policies, Wall Street, and the globalization – outsourcing – offshoring – downsizing – rightsizing. [I can justify those indictments if any one doesn’t think they stand prima facie on their own?] The marketplace is just throwing a little dirt of it now. At one time, IT was an excellent career choice. But, like the Auto Industry, and the village blacksmith, it’s been consigned to the trash heap. I no longer advise smart kids to enter the field as a “career”. Learn about IT as it enables you to accomplish YOUR goal, but as a career choice “No way, Jose”. (I push biotech, chemistry, and math as “non careers”.)

I’ll even go a step further! “Career” is a meme from the Fifties Generation. Worked well for my Mom who spent 42 years with AT&T and was well treated when they no longer needed her shoving her out the door. That type of “golden” treatment ended real quick! Now, one just gets shove out the door, voted off the island, or dumped out of the sinking lifeboat. Given the way that the politicians are piloting the American ship of state, we’ll all be lucky to live as well as Robinson Crusoe. One might have a “career” in things like medicine, law, sports, or the arts; not elsewhere.

Now that may sound glum. And, it is for those of us left stranded on “the island of career” or “the island of Information Technology” as we fight for the scraps of an ever diminishing carcass to feed off of. It ignores the inevitability of human progress. From where ever “we” started — exiting Garden of Eden or crawling up from the mire — the journey continues as the species evolves. Any one, who doesn’t think it continues, look around the labels “children – teenager – youthful offender” and see how much faster boys ‘n’ girls are really becoming men ‘n’ women! Our paradigms and memes continue also to evolve as we’ve gone from “Uggg clubs Ogg to steal his food” to “the collective Uggg’s IRS steals a big percentage of Ogg’s ‘income’ to feed all the Ugggs”. See? Progress. At least, Ogg gets to keep something! We’ve gone thru mob rule, tyrants, kings, oligarchies, dictators, and now “public servants in government” rule us. Two steps forward and one step back.

It’s our thinking (i.e., paradigms of perception and memes of concepts) that are our own worst enemy.

There’s no “career”!

With apologies fro quoting Star Wars Yoda to you, (I think movies have some really great lines of wisdom for us) “Do. Or do not. There is no ‘try’!” (The disgust at the word “try” really can’t come thru in text.)

So to, I’d say — with the same taste of vomit — “There is NO career.”

Advising youth, I have copyrighted patented super-secret keys to wisdom, wealth, and happiness. If you promise not to tell anyone Vincent, I’ll share it again with you. (Again! … I know we done this comedy bit before. But it seemed to bear repeating.) Shush now it’s a secret. It anyone looking?

*** begin secret ***
Success for your generation is: (1) ruthless financial discipline — no bad debt; (2) a life long interest in learning — education — a degree — they can’t take it away from you; (3) a white collar job in order to save big bux; (4) a blue collar skill for hard times — never saw a poor plumber; (5) one or more internet based businesses — your store is always open; (6) a free time hobby that generates income; and (7) a large will-maintained network of people who can “help” you.
*** end quote ***

Notice that no where in there is there any mention of the illusion of a “career”.

So, I have no career. Some say I am “helpless”. Or was that “hopeless”. Ahh, it’s only one letter difference anyway. I’m at the end of my useful career life anyway. (Although I do have the illusion of one last BIG job, making a big difference, and finally defeating the forces of evil, and restoring truth, justice, and the American … … oh wait that was Superman’s elevator speech. Well, one big job where I can make a contribution. Anyone in 08824 need a big bux cto? Not counting my last assignment as the WallMart greeter.) So one has to expect that progress will leave one on the roadside as it marches on.

So, I hope this isn’t too “Prince of Darkness” to your usually upbeat tone.

But, “career” is a meme for the trash heap imho.

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LINKEDIN: Results of my one month test on “liveliness” — 37%! I’m disappointed

Saturday, December 1, 2007

On November 1st, I hit upon the idea of “Liveliness” testing of my LinkedIn “network”.

(We can chat why my “LinkedIn network” is NOT my “network”. And, if what one does with LinkedIn is “networking”. It’s not Lucht’s version of face to face networking. But, it is doing “something”. Just don’t know if it should be called “networking” except in the loosest sense of the word.)

This test was aimed at all contacts older than one month. And, folk who LinkedIn with me — based on old invites — one was a year old — during the test are excluded from the results.

My LinkedIn network is a disappointing 37%!

My original focus was on “breakage”. That was 6%! I had, from LinkedIn, a bad email address, then that clearly that was not going to work very well!

While I was doing it, I became concerned that perhaps I was too heavy on:

* >1% SuperConnectors (little value in the traditional networking sense) ;

* 11% my Current Employer (little value if you get nuked); and

* 2% Hunters (little value in accessing the hidden job market).

During the test, I had the concept of “reaching around” the breaks. That’s how I describe sending an InMail directly to a contact of the “broken contact”. I was able to “repair” seven breaks.

Also, during the test, I was able to give some help: identifying in one case a inadvertent DUPLICATE; in several cases “unpersonalized” urls; a slew of typos; and some “broken” profiles (i.e., profiles with an obsolete email). So, it wasn’t just me bothering people; patheticly begging for a response.

Since my first formal try only got one third to respond, I’ll have to figure out a better approach. Clearly, if this is to be useful, it’s going to need MORE care and feeding.

Sigh. Always more to do!

I feel sorry for anyone, blithely sailing along, thinking that they are “networking” with LinkedIn, and then need that “network” for something, and get these type of results.

Note, that I am NOT an open networker, but have only added contacts that had a perceived value. Maybe, this is a very telling about the value of LinkedIn. AND, social networking in general.

Maybe Lucht is more right than I used to think?

Anyone else studying this?

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TECH SERVICE: KODAKGALLERY recommended for “instant image fix”

Saturday, December 1, 2007

http://www.kodakgallery.com

***Begin Quote***

The Kodak Gallery provides you with free online storage for an initial period of 12 months from the date that you first upload an image to your account. To maintain free storage, you need to make at least one purchase from the Gallery every 12 months (the 12 month period will restart with each purchase). If you do not purchase any product or service from us during a 12-month period, we may delete the images stored in your account. In addition, if your account becomes inactive for a period of 60 months, we may terminate access to your account altogether (including deletion of any account information held by the Gallery).

***End Quote***

I had some snaps from a party that were pretty good. And, as usual, I put them up here to order some prints. Just before I pressed the order button, I noticed a new (new? new to me) option by the edit button. (I was there to crop one pic.) So, hey, I tried it.

Wow.

It did a fantastic job. So I tried it on all the “roll”. It was a minor miracle. Shots that I had written off as too dark were magically transformed into better than the event in real life.

So, I’m punching this one with the RECOMMENDED button. Right after I blow the cobwebs off of it.

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JOBSEARCH: the label that you apply to yourself is delivered by your subconscious!

Saturday, December 1, 2007

IN RESPONSE TO SOME BAD “SELF-LABELING” BY A YOUNG JOBSEARCHER

***Begin Quote***

Well first I object to the self-characterization of “underachieving kid”. I don’t let people talk that way. It might be appropriate for some situations, (can’t think of one off the top of my head), but certainly not in the area of “career search”. Finding out what the best use of your talents is, at best, a game of “blind man discovers elephants”. No one can tell you what your particular elephant looks like or what the “best” use of your particular “elephant” is. Some are pretty easy to rule out: “NBA basketball star”, “Brain Surgeon”, “Concert Pianist”. Some are hard, because you don’t find out, until way down the road the you were meant to be a “greeter at walmart”. So, don’t even think of the word “under achieving”. It’s implies that some one knows that you are too lazy, too dumb, or too insensitive to come in out of the rain. Maybe the Intelligent Designer knows, but no one other that you knows that.

***End Quote***

Some one of the self-help gurus (Tony Robbins?) always warned about the label that you apply to yourself. Even if no one else is there, your subconscious takes that in and delivers it.

OK so here goes: “I am thin, young, and handsome”! (Said out loud with great confidence.)

Did it work?

;-)

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MONEY: END THE INCOME TAX heads for the ballot in Taxachusetts! Who would have believed it?

Friday, November 30, 2007

Proud to say, I chipped in a couple of bucks for this effort! If they can do it Taxachusetts, then it can be done anywhere!

*** begin quote ***

From: Small Government News [www.SmallGovernmentNews.com]
Sent: Tuesday, November 27, 2007 1:25 AM
Subject: END the Income Tax Initiative Headed For Ballot

Small Government News*
Tuesday, November 27, 2007

Publisher: Carla Howell
Editor: Michael Cloud

===========================================================
IN THIS ISSUE
===========================================================

— END the Income Tax Initiative Headed For Ballot
— Boston Globe Article
— “Congratulations,” Writes Citizens for Limited Taxation

===========================================================
END THE INCOME TAX BALLOT INITIATIVE HEADED FOR BALLOT
===========================================================

Dear Friend,

We’re frazzled, fried, and fatigued.

Last week, we delivered 100,000 petition signatures for our END the Income Tax Ballot Initiative to 351 town clerks for validation and certification.

This week, we have to arrange pickups and shipping of these legally validated signatures to us.

Next week – by Wednesday, December 5th – we must file our validated petition signatures with the Massachusetts Secretary of State.

Then the fun begins. We get to show Massachusetts taxpayers and voters the huge, immediate, direct benefits of ENDing the Income Tax in Massachusetts.

We get to tell them why they can make themselves dramatically better off by ENDing the state income tax – and giving 3,000,000 Massachusetts workers and taxpayers $3,600 each, every year.

{Extraneous Deleted}

*** end quote ***

If they can start the ball rolling repealing the income tax around the country, we’ll have a booming economy and I can afford to quit blogging for fame and fortune. (Huh?)

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LINKEDIN: What does LinkedIn do with “ghosts”?

Friday, November 30, 2007

FROM AN EMAIL EXCHANGE ABOUT LINKEDIN AND A DEATH

> Re: Interesting what does LinkedIn do … …
>Posted by: “WashingtonDCLobbyist”
>Mon Nov 26, 2007 10:57 am (PST)
>LI has clearly thought this through – and they have a well-used
>policy in place. Sadly, with the numbers were talking about on LI,

Well they clearly have something in place. It just doesn’t meet my needs. Not that it has too. Not that they have ever been overly concerned with my suggestions.

I’d call it the “your call is very important to us (Yeah, right!)” thinking. Like the resume writer who foolishly thinks that the objective section on a resume refers to HIS objective and not that of the reader. Or, the “post office – dmv – take a number move along” service attitude.

Instead of LinkedIn using it as an opportunity to make LinkedIn less like a recruiter’s phone book and more like a true community, they have “a well-used policy in place”.

It’s far too easy to just say that “LI has clearly thought this through”, when fmpov it’s not “thought through” the eyes of this end user.

That’s why I say that LinkedIn is at risk to competition. (If I was the rumored buyer of LinkedIn, I’d take off a few points or a few grazillion bucks because it’s very vulnerable.) And, it’s not MySpace / Facebook / Plaxo / Ryze or such. It’s the new disruptive upstart who figures out that what the Universe needs is a true business social network community site. And, then delivers it flawlessly. :-)

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TECH SOFTWARE: Copy protection is doomed imho

Friday, November 30, 2007

http://apnews.myway.com//article/20071125/D8T4S5FG0.html

Anti-Copying Programs May Slow Piracy
Nov 25, 1:43 PM (ET)
By BRIAN BERGSTEIN

***Begin Quote***

If the experience of the world’s largest software vendor is any guide, the industry’s best hope for reducing piracy rests with anti-copying technologies rather than in policing the legalistic user agreements that restrict how software can be used.

While a copyright crackdown by the Business Software Alliance and other industry players has been in force for years, piracy rates – as measured by BSA-commissioned studies – have stopped falling. So a few years ago, Microsoft Corp. (MSFT) began concentrating harder on locking software down through a program it calls its Genuine Software Initiative.

The technology has provoked some hostility, because it enables Microsoft to remotely examine user computers. After analyzing such information as the computer’s manufacturer, hard drive serial number and Windows product identification, Microsoft can block access to certain software functions if it suspects the product was illegally copied.

***End Quote***

Well, I would disagree.

MSFT excludes big businesses from their copyright checking. And, as yet, their self-help has NOT been challenged in court. In the marketplace, I’d suggest you see and out and out revolt.

Do you think the non adoption of Vista except on new hardware is surprising. Or the trend of people to retreat to XP on new hardware when faced with one of Vista’s “features”. Of the cutting edge folks moving to Linux or Mac.

No, I think this is gasps and flings of a dying behemoth.

We haven’t even begun to strike the surface of the WebOS and Google Apps.

Look at the new appliance tops that run Linux and cost under 300$!

No, I’d say that MSFT, and it’s buddy INTEL, have finally let the rodents escape the wheel of hardware / software upgrades. Instead of focusing on making the user experience flawlessly transparent, MSFT treats its Customers as criminals.

It, like the RIAA, will find itself voted off the island.

imho

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PRODUCTIVITY: Don’t be too concerned about making “above the waterline” mistakes; can’t die of embarrassment!

Friday, November 30, 2007

FROM AN EMAIL ABOUT A NON-ENGLISH SPEAKING BLOGGER DOING A BLOG IN ENGLISH AND SPANISH

>(hopefully, it’ll help me on the other hand to polish my English based financial vocabulary),

I’m sure your English is far better than my rudimentary Spanish.

Speaking of “polishing”, my best “practicing” story was when the USAF decided it would be simple a wonderful idea if I learned Thai, …

… (This of course overlooks the fact that -at the time- 95% of the Thais spoke fluent English thanks to the British Crown schools. And 85% could write in English better than we could. It was rumored that there were Thai bumpkins out in the countryside who couldn’t speak the Queen’s English. But I never met anyone who did not speak it perfectly. Humorous to see an Oriental face and hear english with just a hint of Brit accent.) …

… and we would go to our Teacher’s restaurant (Thais are stereotypical hard working folks who likely have a full time job, part time job, a business on the side, and gamble / horsetrade / barter in their spare time. You could get tired watching them.) and she would have us entertain the patrons with our language skills.

Imagine two students standing in front of a room full on natives speaking their language in a simulated conversation about something from a lesson book.

The restaurant patrons would laugh, hoot, and howl. The women would cover their eyes (i.e., how Thai women feign embarrassment). It was “soda thru the nose” time! (Most of them didn’t drink. Smoke like chimneys, yes; drink, no?)

When we graduating, the teacher shared with us that our mispronunciations of the tonal Thai language hit most of the bad words, or made absolutely no sense. Who knew that when we were discussing going to “fly our kites” referred to … … and “drinking bootleg gin” referred to … … Well you get the idea.

BTW business at the restaurant went up 50% when she would announce that her students were “coming for dinner”. She got us there to practice our Thai and learn the local culture. We didn’t know we were the stand up comic act. We were just polishing our language skills.

Having made a complete fool out of myself in front of that audience, you’ll hear no laughing from this end of the wire.

Sa Wah Dee there, partner, polish away. BTW, haven’t spoken any Thai since I left the Air Force decades ago. When I do run across a Thai these days, they still speak perfect English and laugh when I greet them in their native tongue. Maybe I’m offering to fly a kite for them? Any way, nobody dies of embarrassment which is all in one’s own mind. People will probably just think it’s new internet lingo. Or, typos.

:-)

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MONEY: “Phantom loads” cost you money in power bills

Thursday, November 29, 2007

http://www.backwoodshome.com/blogs/JackieClay/2007/11/26/we-made-another-giant-step-yesterday

***Begin Quote***

We’re still kind of working the bugs out of the system; we’d gotten lazy about things like turning off the lights (with the generator on, what the heck?), phantom loads (unpluging the TV when you’re finished, not just pushing the off button, cause it’s still ON!), etc.

***End Quote***

Maybe I’m anal, but I hate to pay for nothing. And, that’s what “instant on” translates to.

Also, don’t forget those “warts”, you know the various and sundry “wall warts”, power “adapters”, the things that convert AC to DC. Running all the time.

I put them on a power strip with a switch and click off the entire strip when I’m not charging something.

A penny here and a penny there, and before you know it you have two whole cents.

;-)

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