OP, the changing world we live in means that the skills needed to be a successful tax preparer are constantly evolving. If nothing else, I would argue that a background in accounting will serve him or her well no matter where the world takes us. 1040-only prep, less so. That said, I would encourage anyone in our business to be conservative with our finances to make any potential pivot or early retirement less financially ruinous. That advice would go for a lot of careers, actually.
ManVsTax wrote:I've always shared with anyone who will listen -- there's a tremendous under supply of skilled trades in this country currently. College is pushed as the only path to success and that's partially to blame here.
I feel that this view is largely outdated. The economic changes of the 1980s led to a prevailing belief in 1990s education that the only way for long-term "success" in adulthood was a college degree. I was a student of that time in an admittedly largely-white, middle class school district and my school was 100% in that mindset. Computers and white-collar work were the future, so they cut shop classes and replaced them with additional AP courses while I was in high school. These days, they've walked back some of their focus, offering more apprenticeship opportunities and classes in things like construction. I now live in a different school district, and they have been very aggressive in providing an education to all according to their abilities to prepare them for adulthood. So, I would agree that in the past, 4-year college was taught as the only way to success, but that as a whole education has been evolving away from that view.
Based on what your definition of "success" is, those promoting college really weren't as wrong as they might seem. I agree that they were wrong to downplay the trades, and I even felt as a high school student that my school's decision to close down the shop was foolish. Before the '08 recession a lot of businesses were hunting white collar workers were definitely preferring a 4 year college degree in their requirements -- and it didn't matter what your college degree was in. Partly it was a class issue, but partly it was because there weren't college classes for the new jobs. Only after a lot of people went back to (or stayed longer at) college in the recession has the sparkle of a 4 year degree been tarnished a bit, although it still doesn't hurt to have a degree in the job market.
Ultimately the kid will need to play to his strengths and passions if he wants to be successful and happy.
This I agree with 100%.