"Do I need to go to graduate school to live the life I wish?"
Be honest with yourself. Separate your ambitions from those you’ve gleaned from parents and even well-meaning professors. After all, you are the one who has to put in the time, energy, mental well-being, and money to accomplish this task. Here at IU you are lucky to have such a wide variety of graduate students to talk to. Find out what their life is really like. Talk to those that are happy, and those that are struggling—get perspective. Assess your long-term goals. This includes not only your professional life, but your private life as well. Is getting a Ph.D. compatible with what you desire? Do you wish to work as an applied cognitive scientist in industry, or are you more interested in academia? These questions and conversations will aid you in deciding not only if graduate school is right for you, but also what type of degree you should seek.