?? Work at Pickup Points � Flexible schedule

Opportunity Cost: The Hidden Cost of Everything

Sprouts 114 views

Download Video

Comments

I think the second option would be better, because you can invest in early also you can live your life, time values
Comment from : @Manhwafunny

Collage; 4,080,000 income after34ysbr252,000 lost in wages in 6ys
Comment from : @colbee_rock

You're assuming that a doctor will earn more than an owner of a family owned business What happens if the family owned business happens to be Walmart?
Comment from : @abcdef8915

It is the expression of cost in terms of forgone alternativesbrPlease help me in micro economic
Comment from : @AnagbakwuChinwendu

Money is renewable source however time is not
Comment from : @allviraltube1569

short note on this video
Comment from : @karamatrahmat

Grade 9 gere 😅
Comment from : @Normina_playingroblox

Hi i have a questions tomorrow is exam day and is calculations in grade7 ?
Comment from : @GunlujinGuyenbolor

But I could hypothesize uncountably infinitely many hypotheticals for any alternative I DO takebrMy opportunity cost AND BENEFIT -- if I were not sitting here typing on my computer right now,brI COULD earn a trillion dollars and create peace in the Middle East and replace Putin with a democratic leader,brOR, I COULD cause an asteroid to hit earth and kill 8 billion personsbrSo yeah there's a cost to my sitting here and to my choosing to spend thousands of dollars attending college compared to some hypothetical better outcome, but there is also a benefit to my sitting here and to my choosing to spend thousands of dollars attending college: the benefit compared to asteroid hitting earth and killing 8 billion persons
Comment from : @theultimatereductionist7592

Opportunity costs are not necessarily financial
Comment from : @SigmaInfinity

If she goes to college she will spend $144000 on tuition plus expenses and miss out on earning $252000 from family business Total opportunity cost for going to college is $396000 However she will earn a total of $2856000 as opposed to $1680000 in the family business The cost of not going to college is $1176000 which is the difference between the two nett salaries, even if the other one has a 6 year head start 😢
Comment from : @zakhelethokwana9033

Opportunity of 1 116 000
Comment from : @thxndoskb6284

I am also in this stage of thinking of opportunity costs I am a design graduate and professional and I find design considered a skill domain when compared to traditional domains such as STEM which is viewed as an academic domain
Comment from : @chibha96

Saya ga bgitu mikir soal opor ini
Comment from : @mungpujanarko2256

One small note: certain biases are present in this animation - usually these are great @Sprot, but this particular one may be an example of authorship bias; who can spot them?
Comment from : @VIDEOSASDE

The correct choice is whatever will make her happier
Comment from : @KomarBrolan

It looks like she can retire six years early if she attends college, as well as make more money Her monthly expenses aren't too bad compared with her monthly income
Comment from : @lindseyedward9775

the difference is 73 dollars between the med student and the business person
Comment from : @lem02j4dn2q

No matter what you choose, it pays to have a rich parentage It's up to you to be more better than them in life
Comment from : @kairinase

The greatest weakness of opportunity costs is the problem of hindsight and limited informationbrbrYou may end up on management position after college, but job market may also change when you are in college, ending up in you working as a waiter despite college degreebrbrOf course if you knew what will happen it would be a lotta easier
Comment from : @HrabiaVulpes

Life lesson, opportunity cost is giving up something to gain something Sometimes it’s a lost rather than a gain, so only make calculated moves in life
Comment from : @kervinorosco9887

While there's some truth to the video's premise it doesn't account for the whole picture What's the added value of working directly after high-school versus accumulating debt (assuming you'll need to accumulate debt to finance higher education) in order to pursue a university degree? brbrThe equation is not as narrow as what's the economic trade off in terms of what you'll earn during the duration of the program and the cost of the program brbrIn the instance you forgo taking on debt to finance a higher education, it should go without saying your options will be limited when it comes to the range of employment you could opt for right out of high school brbrIn other words, your options will consist of roles with menial pay But, you'll also gain skills and experience on the job The thing is, your net take home won't be sufficient to save and the skills you'll develop will not be high leverage skills Skills which have strong return on their investments Moreover, the skillset which you'd acquire in this tier of the marketplace will only have vertical application They wouldn't have the capacity to be employed across horizontally (Ie within different tiers of the marketplace which offer more substantial income opportunities)brbrSo the added value of pursuing work right out of high school is an immediate salary along with a low paying skillset There's really two dimension in this casebrbrIf however you consider the added value of taking on debt to pursue higher education the equation yields a different result For the sake of this premise, let's assume of course the person approaches their studies in earnest brbrThe marketplace rewards credibility By earning a degree, (all degrees do not focus on high leverage skills which is an important variable to highlight) A) you build the foundation of a high yield skillset B) you earn credibility with which you can persuade prospective employers to enlist your brain and potential in premium tiers of the marketplace C) The modern economy is a closely integrated value chain and so by attending university you also enrich your roladex which has a seperate ROI of its own later in your career And D) you enhance your optionality by pursuing a high education with a focus on a high leverage skillset because you can employ your skills set across a broad spectrum and within different tiers of the mark place And so when you run the proverbial numbers, taking on debt to finance a degree with a focus on a high leverage skillset has both draw backs and upsides brbrThe opportunity cost is for you to decide What are your highest values?
Comment from : @nabilbousabir4019

Lol why in service black girl?)
Comment from : @nezavisimiyvzglyad

1032000 sacrifice to work for her family
Comment from : @theodoresidwell2342

College is worth more unless you want to be stuck in minimum wage till ya die
Comment from : @dazzlingdexter5060

running a family business will be beneficial
Comment from : @SravaniKaminivenkata

You are fucked if you think college is worth it
Comment from : @vd9190

best option is doing your own work and don't have limit to what u can earn
Comment from : @homer2281

A Very Small Amounts utilize their Expensive Degrees so what's the point wasting So Much On that Useless Paper
Comment from : @davidgallo-cazzo5381

From my calculations, seeking medicine career is the best for her
Comment from : @AmrElAmrawy

I generally like your videos but this was PURE propaganda I am going to spend 120K to get a job as a restaurant manager? An MD will live on 3K a month? You know a family business pays a family member 3500 USD for LIFE?brbrI'm a professional podcaster, long career in corporate America, made six figures since I was 25 No college, ever Today I make more in my "family business" than most Family Practice Doctors You guys need to redo this one, big time
Comment from : @survivalpodcasting

The obvious answer for the young lady in your example is only fans modelbrbrGlad you did this, too few people appear to factor this concept into their thought process
Comment from : @nrconleynrc

Man I've been following this channel for almost an year, these guys make amazing content with very neat illustrations and narration, I still wonder why they have such less subscribers and especially such less views and likesThese Fellas deserve so much more
Comment from : @gokulvasamsetty4674

what if you don’t work, but gave birth to a genius and spent thousands of dollars for her?
Comment from : @babyspice0206

She will loss 86K if continues family business
Comment from : @hammadmustafa6277

Opportunity cost is such a useful concept It can't always be calculated with money, but it teaches you to weigh the long-term costs and gains of every decision--even non-financial onesbrbrFor example: should you invite someone you don't like to a party? If you do, their presence will make the party less enjoyable If you don't, their sibling whom you like will stop being your friend Which is more valuable to you? Enjoyment of the party or the sibling's friendship?
Comment from : @institches2750

Educative
Comment from : @nashvillearts

I have learning difficulties and have always struggled with education Therefore, I choose to travel instead of studying and could always pick up casual jobs in the hospitality industry With the experience and skills I have gained whist working these jobs, I have been able to work my way up to a manager position with a decent wage For me, this way of living suits me so much more than going to school to study and struggling trying to do the work while at the same time loosing money
Comment from : @insightful_fairy8743

Referenced Here:br wwwfacebookcom/StevenWork/posts/10228751838125107brArchived: [Facebook Blocked] brDropBox: wwwdropboxcom/s/2zozrdgqpiuwz5v/Facebook20Multiverse20Journal20-20Index20Number201547202C20June204th2C2020222C20Saturday20Morningpdfbr-br stevenworksubstackcom/p/multiverse-journal-index-number-1547brArchived: archiveph/qBEXlbrDropBox: wwwdropboxcom/s/sqsgqxjw60unugl/Multiverse20Journal20-20Index20Number201547202C20June204th2C2020222C20Saturday20Morningpdfbr-br wwwmindscom/newsfeed/1379857269914603537br gabcom/StevWork/posts/108419950255302462brArchived: archiveph/19tmjbrJune 4th, 2022, Index Number 1547:
Comment from : @Steve2Work

Please Sprouts You have been doing great But for this video you need to be more critical and cover the topic indepth brGive us more and details objectivity Rather than just defining Opportunistic costs
Comment from : @poojangohel

As per my calculations business is a better optionbrAssuming, the return on investment and rate of interest on the loan to be 10 p a compounded annually, here is the calculation:brOption 1 - College:brCost of living and tuition: $24,000 pa for 6 yearsbrNet earnings after college : $84,000 pa for 34 yearsbrNet Future value: $15,889,262brbrOption 2 - Business:brearnings : $3,500 for 40 yearsbrFuture Value of the earnings: $18,588,887brbrTherefore you can get a FV of $2,699,625 more at the end of 40 years if you choose to do businessbrPS:brI don't understand why the net benefit from business is increasing if the number of years is increased, despite the college earnings being double the business earningsbrSomeone, please check if my calculations are correctbrbrEdit:brI found out why the net benefit from business increases with the yearsbrIt takes about 8 years for the college option to break evenbrBy that time the business option would already have about $500,000 accumulated which gives an interest of 10 as assumed This together with the regular income from business exceeds the net earnings of the college optionbrbrSo, even though you earn twice if you go to college, it is better to do the business (If the risks are the same)
Comment from : @poorna_recharla

Many people who get college qualifications do not have the ability/intellect or job to get the calculated gains
Comment from : @donaldevanshennings7732

What is the family business is a hospital ?
Comment from : @mosesouma1191

There is something can not be calculated, so just follow your intuition and interest, and treat what ever you choose seriously
Comment from : @qujin5025

Costs & benefits outside of monetary?
Comment from : @SolaceEasy

I'm a little disappointed that this video didn't discuss the other costs of going to college - the emotional/mental Will you feel more fulfilled in a college-educated career, or not? Would it be more helpful or hurtful to your long term mental health to go through the often stressful coursework to earn that degree?brbrAlso, going to college doesn't guarantee a better job Just ask my dad :(
Comment from : @carynpinkston1939

a lot of people if not the majority do not use their college degrees in their current job which amounts to a waste of money and a waste of time In my friend group only one of my friends actually is in the profession he got his degree in and is still in school going to turn 27 -28 by the time he graduates spend 10 years of college graduate specialization out of almost literally all of my friends he's going to be a veterinarian
Comment from : @palechub2

Helpful!
Comment from : @Redeemedbylove1987

Ok so, correct me if I'm wrong:brA waiter makes 20 thousand dollars (without tips) yearly without any college degreebrA Turkish student who is in top 10 colleges within a practical major makes hardly thousand dollars monthly after having graduated with PhD degree That's nearly 8-9 years of education that pays even lower than someone who is born in a "better" environmentbrThat my friend is both stupid and grim for anyone who is root bound to thier countrybrWe are all international people nowadays and it's getting more and more desperate for those who are in 2nd to 3rd world countries with ideals and sense of justicebrThank you for reading
Comment from : @erdemalegoz1816

If you work 20 hours a week at starbucks, they will pay for your entire tuition through Arizona State University
Comment from : @keepitprivate91

There is also emotional cost, which wrecks every rich female soul into an empty and shuttered shell
Comment from : @444haluk

There are no practical comparisons possible here!
Comment from : @sarthakdixit2161

The opportunity cost of college isn’t the first four years of work (everybody has the first four years of work), it’s the last four years of work, when you are making the most money By skipping college you get to work four more years longer Many people go to college specifically to skip those years
Comment from : @bruceumba

College:br4,080,000 Income after 34yrsbr252,000 Lost wages in 6yrsbr144,000 College tuition and living expensesbr1,224,000 Living expenses after Collegebr2,460,000 Total actual profitbrbrFamily business:br1,680,000 profit after 40yrsbrbr$780,000 difference over 40 yearsbrbrHowever, going to college vs not going is not purely a financial cost/benefit question There are other factors that might be hard to quantify: growing a family brand or business and potential franchises, being close to your parents/family in their later years, following what makes you happy vs what makes you profits, paying back interests on loans, developing management, people and business skills earlier in life, etcbrbrBoth paths have pros and cons beyond the financial aspect
Comment from : @HiramMaxem

I might not be accurate in my button punching in my calculator app on Windows, but $2,712,000 (Doctor) vs $1,680,000 (family business) after 40 years is a no-brainer
Comment from : @anthonyzheng7274

Don't forget to calculate the interest on the loans, which depending on the conditions of the loan, can add up to more than you can earn in a lifetime
Comment from : @ShawnRavenfire

The moral of the story is college can be a successful tool if used properly or can be financial the ball and chain attached to your leg Opportunity cost is a simple way to decide which outcome has the best mathematical outcome Still, it can be an oversimplified tool if all of the pros and cons aren't correctly added to the equationCollege has a host of benefits that are not necessarily linked to direct expenses or wages, therefore, the college must be viewed as a circumstantial tool of choice for economic progression, but it is one of our society's greatest status symbols It's often the cost/benefit of a choice that is not explicit that often has the greatest impact
Comment from : @christophergibbs3771

Can you make a video on the same problem on india
Comment from : @Akash-jn6fp

Don't rob banks lol
Comment from : @Life_42

It all depends on circumstance A lot of college degrees are not relevant to the current market, so by finishing college, you only get in debt On the other hand, critical understanding and chasing opportunities can lead to much better success in life But as Sprouts state, opportunities cost, as money so as time
Comment from : @dinkopehar982