We finally graduated …

When we became parents, Terri and I had certain well-defined ideas about how we would go about raising our children and inculcating certain ideals into their fabric along the way. Everything was going great for the first ten years or so. Then, the teenage years hit. Don’t get me wrong, our children were “good kids” and I wouldn’t change them for the world. This would simply be a blog of fiction if I were to omit the fact that each child put us through a couple of years of “terror” – likely unintentionally, but nonetheless…

Ever-proud parents with our daughter Lorri after her graduation from the Unversity of New Mexico

I think that most parents with adult children could write a similar paragraph as I did above. I know that my own parents could have done so at this relative point in their lives as parents.   And, to those reading this who can and perhaps do relate to these words, I hope that you are as thankful for being able to as I am. I have ultimately learned as much as I taught, grown as much as I grew, and have become a better person because of our two children – both, individually and collectively.

But, this is likely the most compressed period of major milestones so far in my adult life. First, beginning with our son’s graduation from the University of Texas at Austin in December 2009; and, culminating in our daughter graduating from the University of New Mexico and being commissioned a 2nd Lieutenant in the United States Air Force a few days ago in May 2010. Happy? Hell yeah! Proud? Hell yeah too!

I guess I am so happy about this family milestone because it covers the only major area that I was insistent upon our children doing – getting a 4-year college degree from a good school.  And, in keeping with a time honored and generational tradition among the Burnett and Anderson families, each child fulfilled their parental mandate in due time.  I guess I felt the last remaining bits of nurturing-parental-anxieties melt away upon witnessing our youngest child graduate college.

We have now finally graduated to the concerns of parents/grandparents who are engaged in that next phase of family life.  We have turned over the nurturing duties primarily to our children’s generation.  And the cool thing about this fact is that I am confident that both of our children are capable and are ready to assume leadership roles in that capacity…

Our son graduated from the University of Texas at Austin | VIDEO: "Horns Up!"

Our son completed his degree at the University of Texas at Austin, after serving our country and becoming a highly decorated soldier during a time of war.  I served in the military bands – during peace time.  This guy is my hero.  Our daughter most recently completed her degree from the University of New Mexico, where she was under a full Air Force ROTC Scholarship.  This lady is our family’s first Commissioned Officer.  SALUTE!

University of New Mexico 2010 Commencement

Terri nor I attended any of the classes that contributed to our children getting their respective degrees in Economics and Psychology.   But, we have our own personal form of “peace” in knowing the general facts about the advantages of the average person having a 4-year degree versus not having one.  Hopefully, more great opportunities continue for our adult children in their lives and careers.  I hope that they have as much fun and joy as I am having and have had…

How a College Degree Pays for Itself: Financial Costs and Long-term Benefits

By Wendy Croix
Of the 699 people on Angelfire’s “noted high school and elementary school dropout” list, 18 are billionaires. American entrepreneur Jim Clark, founder of “Netscape” and the first Internet billionaire dropped out at 17 to join the Navy. John Travolta, Charlize Theron, and Quentin Tarantino have done just fine without a high school diploma, too. In fact, for all educational groups below the bachelor’s degree, the median income exceeds the mean or average–which means that some people succeed dramatically with little formal education.

Many people trust their luck, rolling the dice with their futures and playing the long shot like the super-achievers above. Others play the odds and bet on education.

Granted, the last few years have seen a drop in real earnings for holders of bachelor’s and associate’s degrees, thanks to the impact of inflation on wages. A degree isn’t a guarantee. Still, undergraduate degrees remain excellent investments, and gains by those with advanced degrees have been staggering. According to 2003 Census Bureau statistics:

• Associate’s degree holders average $8,000 a year more than their high school educated friends.
• Workers with bachelor’s degrees make nearly $23,300 more a year than high school graduates.
• Master’s degree holders average $11,300 more a year than bachelor’s degree holders.
• Professionals with doctorates have annual incomes $37,265 higher than workers with bachelor’s degrees.

The following estimates put ballpark figures on the possible costs and benefits from investing in various college degrees. The calculations use recent Census statistics–the biggest economic picture painted with the broadest possible strokes–to provide two frequently used measures of value:

• The Net Present Value (NPV) of a degree indicates the total value today of the projected income gains after the cost of getting the degree is deducted. The greater the NPV, the better the educational investment. Any NPV greater than zero means that the educational investment pays for itself.
• The Future Value (FV) measures the degree’s total net payoff 40 years down the road, assuming a 40-year career span unless otherwise noted.

Both the NPV and FV calculations are based on averages drawn from the more realistic of the government’s two income profiles. Thus, these numbers reflect the economic fortunes of all workers, not just those who worked year round. Using these statistics takes into account the link between both underemployment and unemployment and lack of education.

[read complete article here]

With our youngest member of the next generation of college graduates

So, considering everything in our lives so far, Terri and I also feel like we finally graduated too …