The Online Education Bubble

I am 30 something. I would like to retire at 50 something but being part of generation y makes me think that I might not be able to afford it. Retirement is important to me so I fund my IRAs (which I plan to roll over to a Roth in 2010). I fund my 401ks and Individual 401k. My husband funds his 403 B his IRA and state retirement. Will it be enough? I hope so. Hubby will hopefully because a G-Man in which case we will have a federal retirement. I am getting off topic but I am getting there....Regardless I have at least 20 years or so more to work, before I can hang up my hat.

I decided to start work as an online adjunct so that I could get my PhD at a traditional university. Pay cash for school so I would not have any student loans. I also wanted a job I could do while I was in school that would not keep me from graduating on time. I highly recommend it as a plan for any aspiring Ph. D. students. My goal was once I finished my Ph. D. to get a tenure job at a traditional university. Period. (In fact I had wanted to do this since 2000 when I finished my Masters degree...but wanted some work experience before diving in to the Ph. D. right away)!

Anyway, I enjoy my job. I have a great income. I can travel and go and do and I am flexible and all the benefits that working from home typically provide (which you can read about here).

However...I have seen an explosion of online education lately. It seems to exponentially increase every year. I study markets (love economics), and have seen some similarities to the dotcom burst and the recent housing bubble. Can it last? If I decided that I did not want a tenure track job...and wanted to continue to keep doing what I am doing...will I have a job in 10 years? 20 years?

I am ok with the risk I am assuming by working for myself. However what will I do if it can't last? I could always get a tenure job at that time. I believe that would work. But by then I will be spoiled rotten. At that point I might have worked from home for 10 to 15 years (going on 5 now as it is)! Something I just have to consider. Also it is May meaning that school ended for me. I have roughly 5 hours a day that I have not filled up yet.

I am studying for my oral exams, but for the most part resting my noggin this month. So there won't be much Ph. D. student updates. I am studying for orals about 1-2 hours per day. I just keep rereading my answers for my written exams at this point. When I can ascertain a better way to study I will fill everyone in! :P