DEAR JOYCE: My grandson, 18, says he wants to become an entrepreneur. OK, but he refuses to enroll in a college, arguing that it's a "waste of time." To top that, when I suggested he get a job for a couple of years and then rethink his decision, he said: "Forget it -- I can do better on my own."

His plan is to become an entrepreneur designing Web pages and to fill in slow-business time by day-trading stocks. His parents aren't in the picture; he assumes I'll support his ill-thought-out venture. I'm on a fixed income. Ideas? -- M.Z.

Day-trading stocks is gambling; does he feel lucky every day?

Just as commercial lenders require a business plan before parting with a penny, so should you. Where will his design customers come from? How will he access capital to expand a thriving business or shore up a failing venture? What has he done to prove his skills and business acumen?

WHAT'S GOING ON? Every generation has its share of young people in a hurry to walk in shoes that earlier generations aren't ready to step out of. Today's economy adds another motivation to cut career corners.

Your grandson has probably noticed a disappointing job market that follows a decade in which private-sector employment has actually declined. He's concluded that lots of good people who were loyal employees are on the bricks, unable to collect the rewards of their hard work. So he doesn't see why he should outsource his future to someone else's hands.

We all get it. But the important question of whether, especially in today's world, it's best to go to college first or enter entrepreneurship immediately demands more judgment.

RETHINKING COLLEGE. As for your grandson's assertion that college is a waste of time, remind him that colleges and universities have often been launch pads for lucrative innovation: Facebook was founded by Harvard classmates and Google by doctoral students.

And does your grandson know about the boom in colleges across the land that offer more than 5,000 courses on entrepreneurship? If not, encourage him to find out.

Admittedly, many wheelers and dealers who've never seen the inside of a campus have done quite well in their own businesses.

Other huge business successes have only tried a slice of college: Bill Gates is a classic example of the college dropout who made good.