Getting a good job is either about knowing someone and getting hooked up or being educated. So don't drop out unless you have connections or you want to start at the bottom and maybe risk staying there forever.
I personally wasted my first year in college and then took a couple years off. My first year I think I signed up for 32 units and only finished 9. I remember actually dropping a class because I wanted to sleep rather than take a midterm. Another class I had an A in but didn't complete since I decided to go to a Smashing Pumpkins concert rather than take the final. Professor called me and asked me to come in late to take the final and I still didn't do it.
I came back strong though and got straight A's and graduated with a degree in Astrophysics and Math. There's a catch though. If you're going to "take time off" be prepared to WANT to come back and then be prepared to spend LONGER in college than you otherwise might have. I don't think most people can just drop out and then pick up where they left off after a year or maybe more. I ended up going back and retaking a whole bunch of math classes and it cost me a good year and a half longer in college. Maybe some people can take all that time off and just jump right into Calculus but I couldn't.
With what I know now I would have dropped out of High school and taken the GED at 14 and then gone straight to a community college for a few years. Then I could have gone to a university and graduated a lot younger. Unfortunately I didn't know what I wanted to study so that didn't work out. Then even after all that hard work in college I didn't want to work in the field and now I do something completely different. Funny how that works out. I still feel good about getting the piece of paper though.
If you think college is going to save you from 50 hour weeks though you're probably wrong. If you're even partially ambitious and want to be better than average then you'll be stuck working over 40 hours in most places. My take on it at least. It seems like those that only work 40 hours a week have those jobs that bore them to death and/or they're not moving anywhere. I'd rather work 50 hours and not be bored than work 30 hours and want to drill a stake through my head. My last job was 47 hours a week and 35 of them were boring. My job now is around the same hours, maybe a bit less, but I enjoy it, the day flies by, and I make more money.
Don't think you need some fancy degree to get a good job though. Anything will do in most cases. It's the principal of the matter and employers simply want to see that you finished what you started and did what they did. Also, many of my friends are very successful with only 2 year degrees. My buddy's sister only has a 2 year certificate in some Dental school and now she makes $350 a day. Not bad. That's over $90,000 a year on a 2 year certificate course. Another friend got an excellent job in Silicon Valley after serving 4 years in the Navy. With his special clearance and technical training he was hooked up right away and then went ahead and got a few of my other friends jobs.
The hard part is knowing what you want to do. Good luck with that.