Consider the situation today:
Okay. You're always wrong, so lets see what you're regurgitating today.
College and flight training costs are pushing 200K,
Only if you're an idiot. Flight training doesn't come close to that.
What you spend on college is up to you, but that has nothing to do with aviation, or a flying career. College isn't necessary to fly for a living, nor is it necessary to fly for the airlines. It certainly enhances one's resume, but a popular choice today is flying for a living while completing a degree online, for much, much less than what you apparently think it costs.
the military wants 10 to 20 years,
What the military "wants" is irrelevant. What the military gets is known at the time of signing, and it's not 20 years. You have no idea what you're talking about. It's a good career for those who so choose. In fact, I know a lot of pilots who draw military retirement who have the option of walking away from their day job at any time, because they get a good monthly check, regardless of whether they show up for work.
wages have been cut in half and retirements are gone.
No, they haven't. My wages continue to go up. Don't yours?
Add to that that the 1500 hour rule and steep competition at the majors and one would be lucky to even be able to fill out an application for a major while still in their 30's.
I used to work with a 29 year old captain on a B747.
You're flying what? A Cessna 150? Perhaps it's just you that couldn't hack it and had a failed career. A lot of us have done quite well in aviation, and continue to do so.
You're more like the little imp that sits on one's shoulder, bound and determined to discourage "you won't make it, you can't do it." You're the voice of negativity, based only on your own failings. By your own admissions, extensive ones, too.
My aim was for a better life; to build a financial empire, to raise a family, to become financially independent.
How's that working out for you? Living like a king, yet?
Aviation today is natural selection at work.
Isn't it?
Wait a tic. You didn't make it, did you? You're right, then. It does work.