Sunday, December 10, 2006

Career futures

A 19 year-old Anaheim Hills, CA student has offered up an interest in his career earnings for $100,000 rather than borrow the money to fund his college education.
In August, Steen put himself on eBay (Charts) to pay for his college education, offering 2 percent of all future earnings to the highest bidder, with a minimum $100,000 bid.
He hasn't had any takers and it's no wonder. Figuring a 43 year career and a 6% discount rate, Mr. Steen would need to average better than $325,000 a year to get my interest. Good luck Ron, but that's just a little more risk than I want in my portfolio.

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