Lost in Kollel » degrees

Its Not Only Real Estate Anymore

aaron — Fri, 20 Aug 2010 04:09:28 +0000

It was only a few years ago that the dominant business in Lakewood was all real estate related. Prices all over the country, and especially in Lakewood, were appreciating 25%+ a year, and everyone wanted a piece of the pie. Rich people, poor people, wanna-bees, and hopefuls, were all jumping in head first to the money that was seemingly there for the taking.

And then came the crash. It started slowly, with all the stakeholders realizing that things were slowing down but at the same time were saying things like Lakewood is different, it won’t be so bad, things will bounce back quickly, get a bargain while you can, etc. etc.

Nowadays, saying “I do real estate” is less popular than saying “I’m learning in kollel.” Granted, there are a few people making money in real estate today, but it is nowhere near the levels of just a few short years ago.

So, what is everyone doing? If real estate is out, and yeshiva guys don’t have medical or law degrees, so how are they making money?

Believe it or not, the economy of Lakewood is changing into a “normal” economy, where the businesses are diverse and widespread. There are mortgage brokers, of course, but there are also medical equipment suppliers. There are construction firms, but also solar powered energy consultants. There are branding experts, high tech web development firms, and retailers of all kinds of products from handbags to business office supplies.

The real estate crash may have been devastating to the Lakewood economy, but it won’t be for long. It forced everyone to broaden their horizons away from just real estate, and there is plenty of opportunity elsewhere. Even without academic training, these savvy former kollel guys won’t let a real estate crash get in their way of success.

Bookmark and Share

Kevin Mitnick: Jail as a College Alternative

aaron — Fri, 11 Sep 2009 19:48:02 +0000

College is not the fastest way to great income. Sometimes, the fastest way to a great paying job is through jail.

Kevin Mitnick knows this well. Since he was 12 years old, he has been working on hacking different systems. He gained access to the LA bus punch tool so he could ride the bus for free, and then moved on from there to hacking Pac Bell’s voicemail system. Eventually, he hacked secure computer networks and gained access to user information and passwords. Eventually, he was arrested in 1995 and served 5 years in jail. He wrote a book about his experiences called The Art of Deception.

Today, he runs his own computer security consulting business, and probably makes lots of money from it.What is the significance of this? Kevin never attended college, yet Fortune 500 businesses all across the world pay his company high fees to consult them on their security. Obviously, a person who was able to break into so many networks will know how to prevent those break ins.

They don’t pay him because of his fancy degrees. They don’t pay him because he was certified by some ho hum organization. He is paid simply on the basis of his experience.

How much did his experience cost? Well, he did spend 5 years in jail. But while he was “training for his career”, he was having the time of his life.

And now he makes more money than most college trained security professionals.

Making money doesn’t need years of boring college. You can get to where you have to just learning from hands on experience. It can be done while having fun. And you can probably figure out a way to do so without having to pass through jail.

Bookmark and Share

Yes, You Can Make Money Without College

aaron — Tue, 30 Jun 2009 18:26:29 +0000

Billions of dollars are spent each year on college. Young people and old people, some with jobs and some looking for jobs, all stream towards the doors of these institutions with dreams in their hearts. What does college do for them? Their goal – a certificate stating that they have the precious “degree” – which is their key to a great income.

Higher education is such an ingrained part of our culture that its hard to imagine life without it. But in truth, all the degree represents is one thing – legitimacy. Why should a prospective employer take the rather minimal risk of hiring an inexperienced young adult without knowing if they are any good at the task they are being entrusted. With the degree, there is the sense of legitimacy for the position. After all, if this person wasn’t any good, how do they have their degree?

Ultimately, its not the degree that gets you the good salary, its the legitimacy that comes along with it. So why bother with the college? Get the legitimacy for the position without the tens of thousands of dollars in tuition and hours of studying. Here’s a few college alternatives that can get you a great degree of legitimacy towards your great job:

Open a service oriented business. If you open a roofing business, people assume you must know how to do roofing – after all, if you didn’t know anything you wouldn’t be in business!
Apprentice yourself to a professional. There are many service people looking for help. Even if they can’t pay a lot, the training you can get from it is far more valuable than sitting in a classroom while paying for the privilege.
Make it your next hobby. Instead of going to cooking school, get some hands on practice by cooking for shul functions, school teas, tzedaka organizations, and simchos. If you are any good, you’ll get lots of buzz, which certainly provides great legitimacy.

The last thing a kollel yungerman going to work needs is to have to sit through years of college until they can get a job. If you realize that all it provides is legitimacy, you can greatly shorten the process by reaching for that legitimacy in easier, more productive ways.

Bookmark and Share