5 • 831 Ratings
🗓️ 4 January 2023
⏱️ 14 minutes
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0:00.0 | Hello, everybody. Welcome to the 100-year real estate investor. We're your host, Jake and Gino, |
0:09.8 | and this is the show dedicated to long-term personal financial engineering. Now, in the past, |
0:16.3 | we've been critical of Dave Ramsey, specifically his stance on savings, term life insurance, but he's coming |
0:25.0 | back around. He recently put up an article on college and he nailed it. So, Gino, unpack this |
0:33.0 | baby for me. I got a new word for you in a minute, but I'm going to hold it back just for a second |
0:36.7 | because it's very appropriate for this. How's it going today? I'm doing great. And what I like about |
0:42.3 | what he talked about, Dave Ramsey, was college is really a business. And the model of 40 and 50 years |
0:48.7 | ago is not the model of today. It just isn't. It doesn't work. There used to be an ROI, a return on investment in |
0:55.2 | college. You'd go get a four-year degree. I don't want to date myself, but my four-year degree |
0:59.3 | back at Fairfield University back in the 90s, I think four years cost me my mom. My mom paid for it. |
1:06.0 | I think $70,000 for four years. Done. I got out, I got a job. I got an ROI. Now, one year cost |
1:15.4 | $70,000. And if you put 70 grand times four is $300,000. So mommy and daddy got to make |
1:24.5 | $450 to $500 to pay the $300. |
1:28.0 | Stop and think about that. |
1:30.2 | On top of that, if Mommy and Daddy can't pay, then Gino's got to go out and get a student |
1:34.5 | loan. |
1:35.3 | And that's where the problems start. |
1:37.1 | That's where the conflict of interest. |
1:39.4 | Jake and I were talking about a conflict of interest right before we got on. |
1:42.1 | This is the most massive conflict of |
1:44.3 | interest. And the reason that I have it, I hate the government in certain aspects because they |
1:49.0 | create a problem, then they come up with the solution. So they create the problem of college being |
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