I had a friendly lunch with a former colleague today who is planning to embark on an executive MBA program.  Nothing unusual in that except he is in his very early fifties.

It got me contemplating the value of formal education later in life.  Although I am a fair bit older than my lunch companions today  I have been thinking of taking some courses toward an advanced degree.

Motivation

I admire my friends resolve and am a bit jealous.  The issue with entering some educational program boils down to motivation.  Is the cost and effort worth it (i.e.  are the outcomes justified.

To be motivated to take the significant step of applying for a course of study there are of course a variety of drivers but ultimately three things are key to your level of motivation.

How much work you need to put into it,the cost and what you will get out of it are foundational parameters that must be acceptable, regardless of the other considerations.

Effort and Cost

At later stages of life it is likely you have accumulated the resources to fund a program like an MBA (they are not cheap).  Probably though cost won’t be your limiting factor (subject somewhat to the appeal of the outcomes.)

Effort on the other hand is a bit of harder to reconcile, after all it is work for sure, perhaps a lot of work and as you approach or pass retirement age, do you really want to commit to working, albeit to your personal benefit.

Achievement

The core of a decision to proceed or not most likely lies with your perception of benefit to you.  What will you get out of it.  Retirement aside maybe for you this is the way to keep your brain active, stay connected with other people, even enhance your life achievement.

Personally I am still stuck on the motivation equation, maybe todays lunch conversation will push me off the fence.  Thanks friends.