As we move our kids into their dorms this August, my Instagram and Facebook feeds are filled with images of well-decorated dorms and the more basic setups for the boys.
But I can’t help but reflect on the saying,
"The world is your oyster."
The metaphor suggests that if you have an oyster,
there’s a chance it might contain a pearl.
A fresh oyster can be hard to open, but once it is,
it’s rewarding.
And if you’re fortunate, that oyster might hold a pearl
—something valuable that can add richness to your life.
So, as we set out to seek our fortunes,
the pearl represents the good luck we hope to find.
If we’re lucky, we will.
Next week, I’ll move my daughter into her college dorm at University of Pennsylvania
I’m excited for her, but as a parent, I know that offering advice is tricky—my kids might not listen to me, but maybe others will!
One of the most important lessons you learn in college is the concept of compounding—how small, consistent actions can lead to significant outcomes over time.
Here are a few things I wish she would follow:
- Get 8 hours of sleep a night. If you don’t or are hungover,
your brain power is greatly diminished.
- Stick to a workout routine. Regular exercise makes you smarter.
- Drink a glass of water between each alcoholic drink. Your future self will thank you for it.
- Join a study group for each class. If you can teach a concept to your friends, you truly understand it. If they can explain something complicated to you, you both benefit.
- Ask your parents for an allowance. They’ll appreciate your maturity in taking on this responsibility.
- If you have student debt, your goal is to get the highest-paying job and pay down that debt as quickly as possible. It might mean living at home for a few years, but it will be worth it in the long run.
- Pay close attention to professors who inspire you. I wouldn’t be where I am today without two economics classes I took with Maurice Obstfeld, Professor of Economics at University of California, Berkeley, and Barry Eichengreen, Professor of Economics and Political Science also at UC Berkeley.
Maurice was my pearl.
Both Maurice and Barry taught international monetary theory. Understanding our monetary system, interest rates, and fiscal and monetary policy teaches you how the world works.
Most importantly, I learned about the gold standard, which is helpful today.
This is what I loved about their classes, and it’s what you should seek in a university—high-quality teaching and insights that help you understand the world.
I was lucky to find a professor or two who inspired me.
That’s your mission as a student: find classes or professors who inspire you.
It could lead you down a path of prosperity and continuous growth.
"The world is your oyster."
Please email me and add any other pearls of wisdom for our young college-bound kids !
Thank you for reading!
Tiffany Kent
Your Friendly Wealth Engagement Guide,
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