Should I go back to school?

[TomR]

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I do have some business knowledge. My father owns his own businesses, and will be helping me run the pharmacy til I get everything under control. It's not that complicated to run the business side of it anyways.

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Businesses run by knowledgable people fail every day. What happens if online poker falls through and you get divorced (I know,I know. You're in love). What's your fallback? Having a backup plan (i.e. a college degree to fall back on to obtain a job) is like having insurance. Nobody hopes they need it but if you do...

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Very good point.

I wonder how much experience the OP has with pharmacies. I have quite a bit of experience with various aspects of the pharmacy industry. I would not consider a hometown pharmacy to be a good long term investment. You will be stuck between two very important and powerful players: the drug companies that set your drug costs (which continue to climb) and the insurance companies that set your reimbursement rates (which continue to decline). A sole proprietor has very little negotiating power with either. I am not a fan of the big pharmacy chains but one of the primary reasons they continue to grow and consolidate is to have greater negotiating power with the drug and insurance companies.

[housenuts]

basically it sounds like you are looking for any excuse to not go to school. if that's the case, then don't go. go when you want to.

maybe just take 1 course to see how you like it. get your foot in the door

[jman220]

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Well, school here at the University of Oklahoma started back today, and I have still not decided whether or not I will attend classes this semester.

Here is some background info: I started college 4 years ago on full academic scholarship (plus living expenses/cash stipends) cause I took tests real well . I started out majoring in Physics and was a straight-A student for my first 3 semesters. I then realized that I didn't want to work in a lab the rest of my life and started exploring other majors (this was also about the time that I started playing a ton of poker). So I took 2 semesters of econ classes, then last semester, I started making a substantial income through poker. At this point, I stopped attending classes and basically flunked. I still recieve a full tuition waiver, and if I made up the 12 hours I lost I would recieve all the other scholarships back too (although, I am not worried at all about the money).

Also, I got married this summer, and my wife is a second year pharmacy student. Our plans all along have been to purchase a hometown pharmacy when she graduates and I run the business part while she does the pharmaceutical stuff. This, combined with the fact that I have made so much money from poker, leads me to lean towards not going to school for now. Also, I understand that poker may not be there for me in 5 years, BUT SCHOOL WILL. I am investing alot of my money right now, and would have no trouble footing the bill in a few years if I do try and go back. It just seems like an undergrad degree is so worthless these days, and I really can't think of a postgrad program I would be interested in.

Thoughts?

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Go back to school, and its not even close. The fact that you can go back basically for free (and you might not be able to later) only sweetens the deal. Just because you are playing poker for a living now does not mean that you will want to do that forever. Higher Education is ridiculously +EV, especially considering the minimum costs to you, and the fact that you can still play some poker, just do it in moderation. (I'm a law student and I only play during the summer, and on breaks now).

[exist]

there are no real reasons to get a degree at THIS particular moment in your situation. even if the poker games "dry up" in a few years, you could probably still clear 50-100k a year while you go back to school (and that's only if everything else goes to hell, divorce, lose the business, etc). plus, you will have a substantial amount of money to live on in 5 years anyway. only continue school right now if there is something specific you want to do right now that requires a degree.

[pokeraz]

Sounds like you already had your mind made up and were just looking for others to agree. I think you should think long and hard at it. You don't have a lot longer to go to finishing your degree. You'll feel good about yourself if you follow through with your initial commitment to going to school. A college degree is a lot more than just the education. It is a life shaping time in your life and will show you have the ability to start and finish a huge task.

Good luck either way.

[BigF]

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Get an MBA.

MBA = $$$.

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BS. MBA from a top B-school = $$$. other MBA = nothing.

[Jim Kuhn]

Continue playing poker until you feel 'burned out'. You have made $200,000 in eight months. Last I checked school does not pay anything close to that. School will always be there and it does not sound like your heart is currently in it.

Your wife and business could support you if/when you decide to go back for your degree. A college degree is greatly overrated, especially if you own your own business. How many people have asked business owners 'if they have a college degree'?

Thank you,

Jim Kuhn
Catfish4u
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[handsome]

Should you go back to school? IMO, no.

College is for high school morans who lack direction in life. Degrees are just written "proof" that you fulfilled a certain amount of coursework.

It seems like you are intelligent, disciplined, and already ready to run your own business. You already have a slew of skills that most college grads don't have. So I say go ahead with the pharmacy thing and BE SUCCESSFUL.

[PoorLawyer]

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The two shouldn't be as exclusive as you are making them, especially with the scholarships you have. PLay poker, make 125k/year, and finish school.

Gabe

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Why? What advantages does getting a degree now have? Obviously it will make me less happy, so what are the reasons for getting a degree NOW?

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so you don't kick yourself later for passing up a free education to make some short term money.

[jman220]

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College is for high school morans who lack direction in life. Degrees are just written "proof" that you fulfilled a certain amount of coursework.

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This is wrong on so many levels.

Edit: Unless I'm missing some sarcasm. And I sincerely hope that I am.