Log In

Reset Password
BERMUDA | RSS PODCAST

Value of education: Does a college degree pay off?

THE picture is just terrible: two small girls sitting together, survivors, traumatised, screaming and covered in blood. What were they doing? They were walking home from school when a bomb went off in Baghad on April 2, 2007. The simple peaceful act of walking home together from school! War-torn or not, other children dead or not, country / home destroyed or not, their (and their parents’) need to go to school is simply greater than the constant danger around them.

Can we even begin to imagine the desire for learning overwhelming such a fear for one’s child? Do we all have that same burning desire for our children here in Bermuda, to be sure that they receive a good education, no matter the sacrifice?

Two studies in contrast. A very small boy gets on the bus. He is clutching a cell phone. He sits down and proceeds to work the entire thing expertly: “Look Mom, he says, I am texting.”

It is fascinating to watch; he has figured out what he needs to do to survive in his environment. His mother sits next to him. We think he has her cell phone, but surprise, she pulls her own out of her bag and proceeds to flip through it.

What is the corollary here? This very bright child has figured out very easily that he can use a complicated cell phone and send text messages. But what about? That we will never know.

I want to think that he is focused on learning and elevating his desire for school. Statistically, it is probably not the case. Yet, texting can do far more than provide just another method of entertainment.

The children are sitting in the back of the classroom in semi-drowsy state. The teacher asks carefully if everyone would like a snack because it is obvious that many of these children have had no breakfast, nor have they brought a lunch box containing any sort of food for lunch.

Why is it that our Bermuda with highest GDP in the world has families where many children are not getting enough to eat? How can there be such a disparity when so many of us are fighting the battle of the bulge on a constant basis?

A small child’s body (and brain in particular) needs adequate, appropriate food in order to grow. The brain itself is not fully formed until around the age of five to seven, and the denial of enough food for growth during these crucial years, may impair a child’s intellectual functions for life.

The statistics cited by Sheelagh Cooper in Thursday’s Gazette (page 5) are alarming and must be taken seriously. Little children cannot protect themselves, feed or clothe themselves. We must all become greater advocates for them; they are the future of our worl

Ah, then there is the money — education makes a lifetime of difference<$>

Today, a formal, focused education is an essential ingredient for quality of life. Employers have increasingly used diplomas and degrees as a way to screen applicants.

A person with a Bachelor’s degree will earn, on average, almost twice as much as workers with a high school diploma over a lifetime ($2.1 million compared to $1.2 million). This is a result of not only higher starting salaries for people with higher education levels, but also the sharper earnings growth over the course their careers (see chart).

Want versus ne <$>Can anyone really define what that means? We can go with the common terminology, which is that want is usually defined in terms of overspending and consumerism, while need is seeking out and using only the necessaries to maintain life, so to speak.

We all want lots of things from life and in life, but we absolutely need to take better care of those who cannot yet begin to define what they want from life.

Children from our society — hopefully will never see war in any of its horrendous forms. But their wants and needs at tender young ages are the same. They want to learn, they want to experience, they want to be.

Do we want to effect social change to assure that all children receive the resources to achieve learning through a decent education, postgraduate studies and taking their place in the ranks of professional salaried workers?

It is not just about the money for them. They need us and we need them. This is our future.

We are what we live. Children learn what they live.

Martha Harris Myron CPA CFP is a Sr. Wealth Manager at Argus Financial Limited. She specialises in investment advisory services with objective comprehensive financial solutions for private clients planning for retirement and lifestyle transitions. Direct Line: 294-5709. Confidential email can be directed to marthamyron@northrock.bm

The article expresses the opinion of the author alone. Under no circumstances is the content of this article to be taken as specific individual investment advice, nor as a recommendation to buy/ sell any investment product. The Editor of The Royal Gazette has final right of approval over headlines, content, and length/brevity of article.