Children and Money (Part III)

It is predicted that the average young person in America will have seven totally different career paths in one lifetime, not seven different jobs, seven different careers. I think there are some issue here that I did not cover in Children and Money. If the jobs of tomorrow do not even exist today, how can we prepare our children for that future? I think it will be necessary for young parents to give their children at least four collars and beyond that the confidence to try just about anything.

White Collar – I am not ready to give up on a college education. In many fields it is still a ticket that must be punched. It is not as it was in the past, a free pass to a better life. I used the get a better education, get a better job ploy three times in my life, but I think those days are just about over. There are too many unemployed and underemployed with college degrees. I would be most worried about a liberal arts degree, without something else. A history degree is pretty worthless without a teaching certificate, a PhD, or a degree from a law school. A degree in a foreign language combined with a MBA is pretty valuable. By itself it is not worth too much.

Blue Collar – Today I would try and give a child a trade. This would difficult for me because I have no such experience or skills. I think it is important that a child learn how to do something of value that does not require a larger employment matrix. I read a series of detective novels that featured a policeman in the old Soviet Union. In frustration, he learned the basics of plumbing so he could fix his own toilet. Evidently, it was nearly impossible to find a plumber in Moscow. Once his neighbors discovered he had this skill, he almost had to beat them off with a stick. There are many such skills from electrician to small engine repair. Someone who knows how to do quality home renovation projects will always be able to find some work. I would also place cooking, music, and artistic efforts in this category. I once dated a girl who put herself through school by playing and singing at a piano bar. She was also paid to perform solos at churches. This was pretty interesting since she was an atheist.

Gold Collar – This is perhaps easier for the young than it is for my generation. Technical skills, particularly skills in new technologies, can be extremely valuable. This will always be a moving target, but if you can hit that target, you can make a lot of money in a very short time. Every couple of years some new technology gets red hot for a short period of time. There is suddenly an enormous demand for web page designers or Java, or HTML, or Flash, or PHP, or SQL or something. I then read articles about high school students who are earning six figure incomes in their spare time. These situations never last very long. That kind of demand always produces an over supply of whatever kind of programmer is getting that kind of money. Let your child build his own computer. Better yet, build a computer together. Someone who can build, fix, and maintain computers and computer networks will not go hungry in the foreseeable future.

Another Color Collar – I don’t know if this collar has a name yet. I would place sales, networking, and entrepreneurial skills in this category. I think it may prove the most valuable of all the four collars in our uncertain future. Back when I worked in factories, we use to say successful salesmen had “the gift.” Not everyone is wired for a sales job but if you do have that gift you can earn an enormous amount of money. Back in the day, a successful salesman of industrial supplies could easily earn three times a shift superintendent’s salary. As brick and mortar jobs fade away, networking skills will become more important. They are already the basis of such trades as real estate sales. Women seem to be naturally better at networking than men. Teach your daughters to apply this skill to real world problems. Even if the economy is not producing any new jobs, there are always some people that seem to be able to produce their own jobs. The small businessman has a hard life, but people with that skill set can make their way through just about any economic situation. Encourage your child if she shows any interest in starting or operating her own business no matter how small.

That’s about it. Any of you who wish to say, “Physician heal thyself,” go ahead. It is easier to write about such a subject than it is to actually have the courage to change your life. I applaud at least three of my friends who have actually followed this advice and changed their lives.

Proverbs 3

[5] Trust in the LORD with all thine heart; and lean not unto thine own understanding.
[6] In all thy ways acknowledge him, and he shall direct thy paths.