Full Disclosure: This is Part 2 in a 2-part collaborative post with fellow blogger Dr. Breathe Easy Finance This Part 2 is written by yours truly đ
All artists collaborate sometimes.
I’ll give you some examples.
Drake and Lil Wayne.
Marvel ComicsThe Avengers. It destroyed the box office this past weekend. It just made 1.2 billion at the global box office. So you see, amazing things happen when people collaborate.
Now he has passed the baton over to me and I gladly accept like we are team USA . Like Usain Bolt just handed over the baton. I hear the shouts coming from the stands. Screaming U.S.A..U.S.A!!!! đ€Ł
We are Personal Finance Bloggers. We will not be overshadowed by some french fires and ketchup! You know why? Because financial literacy is too important. The cream not ketchup rises to the top! Like those bullies said in Race For Your Life Charlie Brown, We’re #1!!!! We are out here to help people improve the quality of their financial lives. See my post of Life Lessons From Race For Your Life Charlie Brown
So we got together and decided to tag team it like Macho Man Randy Savage and The Ultimate Warrior.
So without further ado. Here it is for your reading pleasure. I give you Financial Lessons from asking, Do You Want Fries With That?!!
I know what youâre thinking? What type of article title is this? But just stay with me.
Another personal finance blogger, like myself, saw a post online of a video of someone eating a French fry. It got 23,000 views. He shared his thoughts about it on Twitter.
He said in the finance community we get nowhere near as many views. His response to that, was that his next post would be titled, â12 Financial Lessons from Eating Ketchup.â
I replied to that tweet, in response to his, that I would complement his post and call mine âFinancial Lessons from asking, Do You Want Fries With That?
He thought I was joking. Surely, you jest!
I was oh so serious. As you see, when it comes to money, I donât joke.
In the illustrious words of Miss Piggy, âMoi,â thatâs (âmeâ) in French, Moi means business. Sorry, had to throw in a French word since we are talking about French fries.
You see that, I just gave you an origin story. Similar to how Marvel Studios gave you X-Men Origins Wolverine.
I will be slicing through the mysteries of money faster than the Wolverine can bring out those claws and the same way Michonne uses that Ninja sword on the Walking Dead.
This blog talks money, but we also like to have fun. We about to have as much fun up in here as if we were going to a U2 concert!
Now that you know how this post got its origins, letâs dive right in!
Financial Lesson One: Hard work builds character
You will find no arrogance here.
I like to live a simple life. More Tom Welling in Smallville less Paris Hilton in The Simple Life.
Fun Fact: I got to meet and take a selfie with Tom Welling at Awesome Con in DC. He was a down-to-earth guy. More on my adventures at Awesome Con to come later in another post đ
I am no better than anyone else, but I am always just as good.
I have said before in various blog posts, that I am not too good for anything. I am always willing to work. Iâve been a cashier, waitress, and an operator. I prefer to work two jobs if I can. I would spend and live off of one and bank the other. See my post Lipstick Confessions: Confessions Of A Teenage Waitress
The idea is not to live forever, it is to create something that will. – Andy Warhol
I’m back with another blast from the past. This time I’m taking you back to 1985 with The Heavenly Kid.
The movie poster image says: In Life & Love, We’re All Just Winging It.
However, in the real world “WINGING IT” isn’t going to cut it.
Anything you want, you are going to have to work for and pursue it. You must devise a plan, write it down, determine a strategy, chart a course, set sail, and execute that plan until you reach the finish line.
One of my favorite films from the 80’s was this gem. The movie had a kick ass soundtrack too!
What I really loved about The Heavenly Kid (THK) is that in the end what mattered most was people and not things.
Take a walk with memory down memory lane. You will not be sorry you came along.
Pinky promise.?
I pinky promise you.
The synopsis is as follows: A hip guardian angel named Bobby Fantana, who died in a car race in the 60s, reluctantly agrees to watch over lonely 80s high schooler Lenny Barnes who needs guidance on how to become cool.
This is how it all went down.
A young greaser-type rebel, challenges Joe Barnes (Mark Metcalf) to a game of chicken for making a pass at his girlfriend Emily (Jane Kaczmarek). Bobby wins the race easily when Joe dives out of his car, but Bobby is unable to get out of the car in time due to his bracelet getting caught on the gearshift. He dies as his car plummets over the cliff into a fiery wreck.
I know this is some sad sh*t, but it does get better.
Although, Bobby is no longer with us there is still some good he can do.
He wakes up aboard a speeding train, which stops at a station housing a huge escalator going up into a bright white light, which one of the attendants refers to as “Uptown”. Bobby is denied entry, and Rafferty (Richard Mulligan) appears and explains that he isn’t considered ready yet and needs to carry out an assignment in order to earn his ticket Uptown.
That train is hilarious. Basically, it is like some form of purgatory, but without any maliciousness. After what seemed like an eternity and many years in limbo, Bobby is finally given his assignment: he is to return to Earth and act as a guardian angel and friend for Lenny Barnes (Jason Gedrick), a promising high school student who is constantly picked on in school, particularly by school bullies Fred Gallo (Stephen Gregory) and Bill McIntyre (Beau Dremann).
The one and only Jason Gedrick.
However, Bobby is instructed that he is only allowed to reveal himself to Lenny and nobody else.
Ooh, plot thickens.
Basically, Bobby is not allowed to enter heaven but has to stay in one of the lower levels or downtown until he has worked enough as an guardian angel in order to deserve paradise. Like all good things, you have to earn it first.
Get out the popcorn, it’s going to be a good read.
WINGED ADVICE #1: CONFIDENCE IS KEY
When Bobby meets Lenny he is for lack of a better word; a nerd.
Just for flare. I am providing one of my favorite meet and greet handshakes of all time. By my favorite WWE wrestler Mach Man Randy Savage with Hulk Hogan. Now he had style and oozed confidence!
And not the Steve Urkel type, but a kid that just has no confidence. Bobby is about to help him change that.
The first time he sees Lenny he is being picked on by a bunch of jerks from his high school. He notices that the “kid has no confidence cause he’s got no style.” Truer words had not been spoken.
I will not ever forget being teased in school. It only made me stronger. I remember thinking this is bull$#%t! I’m only here to get an education. I’m not here for you or your approval!
All people cared about were looks and popularity. I was like there has to be more to life than they way you LOOK!
I decided to ignore them and hit the books and the gym. I found an upperclassman that was willing to do my hair anytime I wanted, then I worked on having impeccably flawless hygiene and appearance.
I felt this. Just like Regine Hunter (Kim Fields) in Living Single.
I was like Beyonce in that b*tch! I WOKE UP LIKE THIS!
All the bullying and teasing stopped REAL QUICK.
That is why I focus so much on my health, education, and building wealth. And it paid off in spades. I own a home, have multiple retirement accounts, I have over $100,000 in just 1 index fund and I own a bunch of those! Thanks Jack Bogle for creating the first index fund in 1975 with Vanguard.
I’m not the only one that has been teased in school. Lots of folks have. I recently saw an interview with William Zabka (Johnny from The Karate Kid) while he was promoting Cobra Kai with Ralph Macchio.
When asked about bullying he said he hates it. There are 3 core people involved in bullying: the bully, the one being bullied, and the witness. Go tell an adult or someone you trust what is going on. Speak up. No one knows unless you tell them. Don’t be afraid to stand up, say something or defend yourself. Remember that bullying is only a season; it is not your whole life. This too shall pass. It is not permanent; it is only temporary. At the time, it seems like your whole world because in that moment it is, but you will grow up an this will end. Yes, he said all of that. He played the bully in a movie. That is fiction. In real life (IRL), he is anti-bullying.
In addition, I remember hearing Jillian Michael tell her story. She was chubby and overweight. The kids were relentless in their teasing. Once she started training in martial arts she said the teasing dried up like prunes and stopped real quick. Therefore, if you want to do anything in this life, the first thing you have to do after making sure you are safe, dry, and feed is to build up some confidence. It can change your life faster than just about anything.
How do you get it? Create a safe place and space for yourself to be who you are, but also to have a clean and neat appearance.
Coco Chanel once said the fastest way to change your appearance is to never underestimate the value of fresh-shaped eyebrows, clean glowing skin and a good haircut.
Basically, focus on hair, teeth, and skin.
You do this by drinking water, exercising, and eating well.
The End.
As far as clothing goes, just do the basics. You are in high school for goodness sakes! All you need are jeans, t-shirts, sweaters, and sneakers.
For the ladies, some fitted tops, jeans, skirts, dresses and heels. A nice blazer and black leather jacket are staples along with nude heels and black pumps. A little black dress is always great to have.
And most important, nothing too TRENDY! Styles change quick. They change so fast that styles have already changed while I was typing this sentence on this post!
Stick to regular staples and basic solid colors and you will never go wrong. Remember that red is the color of confidence.
Also, that you are your biggest cheerleader. You have to believe in yourself or otherwise no one else will. Find a way to build up your confidence and you will go a lot further along in your life.
That’s just my $0.02 cents. Smooches đ
WINGED ADVICE #2: CRUSHES DON’T LAST FOREVER AND NEITHER DOES BEING BROKE
Lenny has a crush on a girl named Sharon who is the most beautiful and popular girl of the class. He was totally obsessed.
But she does not even notice him until Bobby helps Lenny change his image and boosts his confidence. By doing this Bobby dresses Lenny up making him a playboy and tough guy so that he gets what he wants although Bobby knows that this is not the best.Â
Lenny spent so much time obsessing over Sharon that the girl that really liked him wasn’t even in his eyesight, but was right in front of him in his friend Melissa (Nancy Valen).
Look we have all been there. Young love. Sometimes it goes unrequited. You will love again. I promise you. Like a friend told Romeo, during the infamous feud between the Montague’s and the Capulets), he must move on from Juliet, there are other beauties.
Shakespeare had that right. Nothing lasts forever. You must be willing to move on once you have done all you can. Did you do your best? Alright then, move on. Time heals all wounds and this includes a broken heart.
Now let’s talk money.
Don’t sped money like a drunken sailor.
Once you start earning some income, put some money aside. Even if it is only $5 dollars a week! This will get you in the habit of saving.
They say the niches are in riches. If that is so, then saving is the niche to building lasting wealth.
I started with nothing and slowly built what I have. First, I was saving $1 a day. Then it was $50 a month. I slowly started bumping it up every chance I got. Got a raise. Save it. Got a windfall. Save it. Can’t just let that money sit. Money can’t be idle.
Money must be invested and it has to keep circulating. Spend on what you need. If there is excess, then you can buy luxuries, but not before you have earned the money first. Learn it. Live it. Love it.
I finally started doing $150 a month and then doubled that. I started reading more on saving and figured “What the heck?” just cut out the crap, stop spending and save.
That is when I leap frogged from saving $3,600 a year to $5,000, $8,000, $10,000 and then $13,333. I sold, stop buying, or earned more and saved. From sacrifice comes great things. Get it. Got it. Good.
WINGED ADVICE #3: SHOPPING FOR A PURPOSE
One of my favorite scenes in the film was the shopping scene. Bobby takes Lenny shopping for new clothes. This boosts his confidence.
In addition, he builds Lenny a car. Now that he has a new set of wheels and fancy clothes, he is ready to take on the world.
I am all for new clothes and buying things you need. Lenny needed to burn those clothes he had or donate them (waste not want not). They made him sad and lonely. He went from geek to chic. And his attitude along with it. However, they only got what he needed. No $5,000 Rolex, or $700 sneakers. Enough for the kid to get by and feel good.
That is what I do. That is how I was able to save thousands in annual clothing expenses and bank that money.
He was also economical in how he got a car. They went to a junkyard and put it together from all the spare parts lying around. No $500 car note there, which is the average that Americans are paying. Stop trying to impress people with your fancy gadgets.
Take a note from 50 Cent’s playbook. When in doubt: sell. Here is a cautionary tale.
Therefore, he is paying $840,000 a year for his manse. He hasn’t even eaten yet! No gas was put in the Hummer (fill in any fancy car name here) and no food was put in the fridge. And don’t forget health insurance. That’s all got to be paid. In 9 years, 50 Cent will have paid over $7.5 million just to do nothing but sit on the sofa in his house! This 19 bedroom manse had no purpose other than to impress people. No one NEEDS 19 bedrooms unless they are running a bed and breakfast. Matter of fact, having a 10,000 or more square ft home is like having a small hotel. I’ll pass.
WINGED ADVICE #4: FOR THE LOVE OF MONEY OR FAMILY
Bobby later finds out that Lenny’s mother is his former girlfriend who has married another guy. Although not being allowed he makes himself visible to her…
and after some additional situations take place Lenny is challenged to a chicken race at the local quarry by Fred, Sharon’s former boyfriend. Having been told by Rafferty that Lenny will die just as Bobby did earlier, Bobby offers to trade his own chance to move Uptown (essentially, his own immortal soul) to save Lenny’s life. He vows to give up his soul. A selfless act indeed. Â
This unknowingly earns Bobby a trip to Heaven or “uptown” as the movie refers to it. Rafferty explains to Bobby that he had learned to love and value someone more than himself, and that is how one earned a ticket Uptown.
There are going to be times in this life when you will have to chose what matters most to you. What do you value? I remember hearing the Osmonds father (yes, those Osmonds of Donnie and Marie fame) tell his children: faith, family, then career.
I pick my investments based on what I value most: freedom. The freedom to choose what I do with my life and my time.
Money is infinite, but time is not. Once it’s gone, it is gone forever.
That is why I only do what excites me. You only get one life. One shot. One chance. I suggest we all do what Eminem says, ” You better lose yourself in the music, the moment You own it, you better never let it go You only get one shot, do not miss your chance to blow This opportunity comes once in a lifetime.” I agree wholeheartedly.
If you like this post, then check out the film The Heavenly Kid. Because life and you money are too important to “just wing it.”
Not Confessions of a Teenage DRAMA QUEEN. Even though I was a teenager, but of a TEENAGE WAITRESS!
Being a waitress was a humbling experience.
After reading about Financial Samurai working for $3.50 an hour at McDonaldâs, I was inspired to share my story of making $2.39 an hour + tips while waiting tables at Shoneyâs.
It was early experiences like that that shaped my attitudes
toward money and work today.
It is also a reason why I try to tip well.
I believe in being a good tipper because that is how people make their living. My father always says tip well enough for people to feel it. I concur.
A waitress is a pretty grueling job.
You are on your feet for hours on end. You must constantly be moving and taking orders or picking up food. Then thereâs the nonstop cleaning, folding of napkins, packaging silverware, putting ketchup, salt and pepper and other condiments out and etc.
That early job experience was enough to make me want to work and study so hard while I was young, so that I would not have to when I was older.
This job and other hardships are what drove me to dig my way out of debt and start saving over 40% of my after-tax income.
I have always been thrifty and a saver.
It is because of that, I knew I could not marry someone that is fiscally irresponsible and stay married to them. It just wouldnât work.
I have never had the urge to go rent a Mercedes-Benz, drive
down to Vegas, buy lottery tickets at every 7-eleven along the way, buy a $4,000
Cartier wrist watch just cause you know bosses gotta be on time, visit a
psychic who says my lucky numbers are 4,5, and 6, and then bet it all on black.
Nope. I have not given any of that any thought at all.
Except maybe that the color of the S-Class Mercedes with a 3-layer fabric top is impeccably crafted for coupelike comfort, sleekness and outward views when it’s up, or vanishes in under 20 seconds, even as you accelerate to 30 mph should be silver.
After reading the book Nickel and Dimed, I felt that the author expressed my views on how she and I observed the treatment of low-wage workers was pretty spot on!
The job: take orders, greet customers, keep the restaurant
clean, and serve food.
Sounds simple right. Wrong.
We had a busy body manager. Chaotic shifts. And lulls in
customers.
Shoneyâs was an eat-in restaurant (mostly was a buffet place) that started in Tennessee, but had restaurants in the Mid-Atlantic region.
So many people opted for the breakfast mostly leaving
afternoons and dinner times pretty sparse inside.
That means little to no tips!
Not something I was told upon being hired.
Some of the food on the menu looked better than it actually
was in-person, but all the food was at least good.
And no matter how hard I worked, it never felt good enough
to our nitpicking manager who was always so concerned about how she looked in
the eyes of the suits at corporate.
She was too busy kissing their a$$ to worry about us lower
employees on the totem poll.
Little good it did her.
She was a ball of constant worry and stress, a chain smoker, and overweight. This was our manager. Our fearless leader?
Is this what management is supposed to look like in America or was this just her issue?
There has to be better ways for her to almost be eligible
for food stamps and make a buck, but what do I know.
My lunch break was the only thing I looked forward to
because it was the one-time no one could give you any orders and you could get
off your feet and rest.
I usually ate a Philly cheesesteak because it was just so good. Calories be damned!
Even some of the cooks seemed disgruntled. They liked to flirt with waitresses and I think one was dating one of them! Whatever.
I just needed the cooks to be happy so that I could get food
out piping hot and fast so I could make this money.
I need those tips!
After calculating the $2.39 an hour, working 40 hours a week
would only get me $95.60! And thatâs gross not net!
Anyway, I now had to deal with the situation.
The goal was to have spending money to hang out with my friends and buy all the cool stuff I always wanted but could never afford.
To be so young and naĂŻve. If I would have been thinking, I should have started tucking money into a Roth IRA. I would probably have had less anxiety when I got my first REAL job!
If I would have saved just $2,000 a year from ages 16-26, without adding another penny, in 40 years that money could have turned into $1,586,894.95 at a 10% return with compound interest! That would have required me to only stash away $22,000!
Just some food for thought right there. Start investing young!
WELCOME TO THE WONDERFUL WORLD OF TIPPING
Like the first episode of Buffy the Vampire Slayer, âWelcome to the Hellmouth,â I was welcomed to how cheap people really are.
Tipping is the holy grail of waitressing and bartending.
One of the smallest tips I ever got was from 2 girls I went to high school with. We were not friends but I didnât expect to only get a $1.17 tip! That was basically the change from the meal they just ate and paid for. Maybe they should have put in an application to work here too!
I remember one time in college when I got a ride home from a
weekend class I was taking (I was doing 6 classes that semester), telling me
she worked at her brotherâs restaurant and she made sure to be on point in
order to get that $20 tip!
My days at Shoneyâs was long gone by then, but I remember
thinking it is far better to work at a higher end restaurant like her because
you can make more money.
Lesson Learned: Focus working or catering to high-end clientele that can afford to pay for your services.
SAVE LIKE YOU WILL LIVE FOREVER
Have you ever heard the saying âLive like tomorrow is your
last day on earth?â
Well, I like to save like I am going to live forever.
I learned this lesson, like James Brown said, you have to Pay the Cost to be the Boss.
That song and The Payback made me want to get my act together.
I put a plan into action. I was going to save money out of
every paycheck.
It took years to make happen, but I went from saving nothing to putting aside 9% of my income. Then from saving $1 a day to $13,000 a year!
The plan had been to stop living paycheck-to-paycheck.
That was okay, but I needed a goal. Something to aim at.
So I picked a number. $13,333 was that number.
I chose it for a few reasons: 1) The number 3 is my favorite number; 2) I saw that another blogger was saving that amount per month so I aimed to duplicate that, but started smaller; and 3) I did the math and discovered I could have over $100,000 cash if I did this for about 7.5 years.
I also knew it was possible that if I invested $100k in the
stock market that after 30 years without adding another dime, I could have $1
million shored up for retirement.
Considering that about 20% of Americans have $0 saved for
retirement, I knew that I better prepare because tomorrow does come.
The future is going to happen.
If I was going to bet on anything, I would bet on that.
Forget Vegas. You can bet the farm the future is coming. And itâs coming fast!
Remember that 9% I mentioned earlier. Well that small sum turned
into a small nest egg of $25,000!
And most of that sum is invested in just a few stocks!
The power of compound interest baby!
Pro Blogger IRA # 1 of 3 (Personal Finance) Traffic Estimate: 50,000 pageviews Pinterest Estimate: 48,000 monthly viewers
Stock
Price
Stock Quantity
Current Balance
AAPL
$201.35
37.256
$7,501.50
AMZN
$1866.86
5.000
$9,334.30
Total
$16,835.80
Source: GreenbacksMagnet.com
I hope this post inspires people to understand the value of a dollar and that paying off debt and saving are far better than blowing all your money on things.
Why the difference? Because women earn on average $0.80 for every dollar a man earns.
Therefore, men have to save less and women have to save more in order to reach the same goal of fill in the blank $ dollar amount here.
WHY IS SAVING SO CRUCIAL?
No one can arrive from being talented alone, work transforms
talent into genius. â Anna Pavlov
All wealth building starts with saving.
Donât let anyone tell you any different.
Sure you may have to invest and diversify your money such as investing in stocks, real estate, and bonds, but you have to save money FIRST before you can buy or invest in anything.
If you have ever read a Jane Austen or Charles Dickens novel, then you know the theme always comes around to money.
Considering that Jane Austen never married and Charles Dickens grew up in a poor house, it is not surprising that the authors chose to hone in on this topic.
The sorted topic of coin. Both authors are British and in that society they have a class system.
You are either born into wealth and inherit it or you must
work for many years and earn your fortune.
Many of the landed gentry lived off of their land. Profits that were made from owning land was how they made a living.
That monthly sum could be the difference between prosperity
and being locked away in poor houses, which were a form of jail for the poor.
Here in America, we do not have a class system of royalty, nobility, tradesmen, shop keepers and owners, or farmers.
However, we do have a social ranking and social class. Those are the haves and the have nots.
If you want to find yourself in the realm of having, then
you best start saving money for your future today.
Many years ago, I was laughed at for my paltry savings
amount of 9% per year.
Now I am saving over 40% of my income.
No one laughs at me now. Â
HOW SAVING MONEY CAN MAKE YOU HEALTHIER
They say wealth equals health. And that is an understatement
if I ever heard one.
Having money allows you to pay for all of your needs.
This includes doctor visits, healthy food, and medicine.
Even something so simple as reading glasses can get pricey.
I once saw a pair of Oakley glasses for $300.
You want organic fruit and meat? Well that costs.
Eating well not only affects your waistline, but also your
brain functions.
It is said that children that do not get the proper rest,
nutrition or eat breakfast before school perform lower on tests and have harder
times concentrating.
Success depends in a very large measure upon individual
initiative and exertion, and cannot be achieved except by a dint of hard work. â
Anna Pavlov, Prima Ballerina
When you have the means to pay your bills, eat, and work in
good health; then you are fortunate indeed to be able to pay your own way.
Being able to afford your monthly nut just makes you happier
overall.
You are protected from the pitfalls of many of lifeâs
hiccups.
You can get just as much pleasure saving as you can from spending.
I seem just as happy being able to have the ability to
afford items than am to actually purchase them.
It is a great feeling to payoff debt. Every check you write frees you from obligation to lenders. Then your money can stop serving THEM and start serving YOU.
Make a goal to write down evet single bill you have and
person you owe.
I started doing this and tackling every debt I had one by
one.
Once I paid of my car, I owed $30,000 and my personal loan,
I owed $20,000, then things started really taking off from there.
I was able to take these monthly payments, $450 and $333
respectively, and start investing that money. Now that money works for me in
the stock market.
Here is one stock I recommend: VFINX or VFIAX. (You can also invest in the VTSAX or any equivalent)
Portfolio composition of VFIAX
Month-end 10 largest holdings (22.40% of total net assets) as of 03/31/2019
1
Microsoft Corp.
2
Apple Inc.
3
Amazon.com Inc.
4
Alphabet Inc.
5
Facebook Inc.
6
Berkshire Hathaway Inc.
7
Johnson & Johnson
8
Exxon Mobil Corp.
9
JPMorgan Chase & Co.
10
Visa Inc.
Whatever you do just make sure you not just SPEND money but SAVE money.
College is a reward for surviving high school. â Judd Apatow
Letâs face the facts. A college degree is not as valuable as
it used to be.
Many folks are landing starting salaries well below what it
cost them to get that required degree before starting that job that pays less
than what it cost to go to school to qualify for the job in the first place.
According to PayScale, the typical college graduate with
zero to five years of experience is raking in $48,400.
The National Association of Colleges and Employers (NACE)
states that average starting salary for graduates is about $50,004. So what
does that say about paying $100,000 for that creative writing degree? That it
is overpriced.
Letâs get down to brace tacks.
HOW MUCH MORE IS COLLEGE TODAY?
The price of college has now outpaced inflation.
The average yearly cost of 4-year public college cost from
1971-2016:
2016: $20,967
1971: 8,734
140.1% increase in college costs
During that same period of time wages decreased by 5.4% over
those 45 years.
You read that right. Wages actually went DOWN instead of UP
with a college degree in your hand.
WHAT IS THE PRICE OF COLLEGE VS THE VALUE OF YOUR EDUCATION?
After you get that degree, then you have go out and get that
coveted job. You want a great starting salary, but most employers will tell you
they cannot quantify your knowledge but so much.
Really?
Cause college are sure about to slap a price tag on getting
that knowledge.
Why not offer the same salary as the cost of the degree?
For instance, if you pay $45,000 for your sociology degree,
then that would be your starting salary.
Letâs think about that for a second.
What if colleges and employers printed the cost of degree
and payment for that degree? Then you would see something like this:
Petroleum/Mechanical Engineering: Degree cost and starting
salary $90,000.
Psychology: Degree cost and starting salary $47,000.
That would alleviate a lot of stress and salary negotiations
right there.
THE MOST EXPENSIVE DEGREES ON THE PLANET
âA university is just a group of buildings gathered around a library.â â Shelby Foote
Education is an asset. And investing a great deal of money
in a degree doesnât necessarily guarantee a first-class education. However, it
can alter the trajectory of your life if you are able to parlay all those late
nights writing papers into some serious coin.
As of 2019, Harvey Mudd College has taken the crown for the
most expensive college in the world costing students approximately $57,401 for
the upcoming 2019/2020 academic school year.
If we time that by four, which is being nice considering the
average college kid is graduation in 5-6 years, then we get a mind-blowing
$229,604!
For some perspective, if we invest that money instead over
four years and let it ride, then after 30 years with an 8% return you would
have $2,310,426.27! Yes, those four years cost you over $2 MILLION!
You literally could have used your college savings and
invested every penny in the stock market and gotten a higher return than what
many will get after 10 years of drudgery repaying that $200,000.
It gets even more expensive if your kid starts in at the top
and goes to a private school from K-12. This could cost you even more and the
losses start to really pile up!
Say those adolescent years are spent in some swanky private
school at $50,000 a year. Over the course of 13 years, you would have paid
$650,000! Add that $229,604 and you are staring at education bills of almost
$900,000!
I would take a check for $900,000 at the age of 22 any day
of the week over going to fancy private schools for 17 years!
And just in case you were wondering.
If you invest that $50,000 private school money over 13
years in the stock market, you would have $1,160,746.02 with an 8% return. And
add in four years of college, that would net you $1,822,512.19.
Going to public school isnât looking so bad now is it?
Here are some of the most expensive colleges in the United States and the world.
These 12 colleges are currently the most expensive in the United States:
12. Duke University (18) 2018-19 Tuition & Fees: $55,960
11. Bucknell University 2018-19 Tuition & Fees: $56,092
10. University of Southern California 2018-19 Tuition & Fees: $56,225
9. Tufts University 2018-19 Tuition & Fees: $56,382
8. Amherst College 2018-19 Tuition & Fees: $56,426
7. Franklin and Marshall College 2018-19 Tuition & Fees: $56,550
6. Landmark College 2018-19 Tuition & Fees: $56,800
5. Harvey Mudd College 2018-19 Tuition & Fees: $56,876
4. Trinity College 2018-19 Tuition & Fees: $56,910
3. Vassar College 2018-19 Tuition & Fees: $56,960
2. University of Chicago 2018-19 Tuition & Fees: $57,006
1. Columbia University 2018-19 Tuition & Fees: $59, 430
These 11 colleges are currently the most expensive in the world:
11. Yale University 2018-19 Tuition & Fees: $49,480
10. UCL (University College London) 2018-19 Tuition & Fees: ÂŁ9,250 or $12,080 USD
8. University of Chicago 2018-19 Tuition & Fees: $57,006
7. Princeton University 2018-19 Tuition & Fees: $43,450
6. California Institute of Technology 2018-19 Tuition & Fees: $45,390
5. University of Oxford 2018-19 Tuition & Fees: ÂŁ9,250 or $12,080 USD
4. Harvard University 2018-19 Tuition & Fees: $46,340
3. University of Cambridge UK (United Kingdom) 2018-19 Tuition & Fees: ÂŁ9,250 or $12,080 USD
2. Stanford University 2018-19 Tuition & Fees: $46,320
1. Massachusetts Institute of Technology 2018-19 Tuition & Fees: $47,704
Those are expensive colleges.
Did you know you could go to university cheaper abroad?
For some perspective on exactly how expensive colleges are in the United States, as an international student you could go to the same college as Prince William and Duchess Kate Middleton for less than it costs to go to Harvard, Yale, or Princeton! The cost is ÂŁ20,770 or $27,125 USD. That is what it would cost annually to attend the University of St Andrews.
NOT ALL DEGREES ARE CREATED EQUAL
Education is not an equalizer. If you go to the same college as a science nerd majoring in Math, while you are majoring in philosophy, you both are not on equal footing by a long shot.
In light of the recent college bribery scandal, letâs talk top-tier universities.
If you were to get an acceptance into Yale or Duke University,
congrats to you, as you are among the college elite. However, donât break out
the celebratory champagne just yet.
Although you and another student may be paying the same amount to go Duke, if you major in a different field, then that degree can easily eclipse yours.
Put it this way. You and another student both pay $48,000 a
year over four years. That is $192,000. You become an engineer raking in big
bucks right after grad by getting a starting salary of $95,000. Your friend on
the other hand, letâs call him Joe, majored in piano or violin and is only able
to get a starting salary as a backing musician for $38,000.
That is a difference of $57,000 a year.
You ask how is that so? We went to the same university. We
paid the same amount.
Yes, but your degree is in higher demand than Joeâs.
Then you may ask yourself: Well why didnât Joe pick a more
in demand degree? And therein lies the rub.
Joe is a skilled musician. That is where his passion and
interest lie. Even if he would have seen a brochure, which there arenât any in
wide circulation on any college campuses that I have ever been to, showing the
starting salaries of majors he still would have chosen music.
The playing field of majors is not level. Therefore, you
need to decide before you even step foot on a college campus what you want to
be.
This is a small list of what employers are paying for
college majors.
My suggestion is that you do a search on what it costs and
what it pays to be a lawyer, accountant, doctor, or violinist. When you know
what your options are, then you can at least make an informed decision.
Train yourself to let go of the things you fear to lose. â George Lucas
If you have ever seen any of the Indiana Jones films, then
you know they are all full of action and adventure.
However, my absolute favorite in the film franchise is
Indiana Jones and the Temple of Doom.
There had some jaw dropping moments throughout the entire
film.
They take you on the joyride of a lifetime in 120 minutes!
You get to see Indiana Jones (Harrison Ford) at one of his
most defining moments in his career. As well as, watch him put the well-being
of people ahead of money and things.
The series was created from the mind of Star Wars creator George
Lucas and directed by Steven Spielberg.
Now letâs go back to 1984! No legwarmers required! đ
Intrepid archaeologist Indiana Jones, on the trail of fortune and glory in Old Shanghai, is ricocheted into a dangerous adventure in India. With his faithful companion Short Round (Jonathan Ke Quan) and nightclub singer Willie Scott (Kate Capshaw), Indie goes in search of the magical Sankara stone, and uncovers an ancient evil which threatens all who come into contact with it.
The second of the George Lucas/Steven Spielberg Indiana
Jones epics is set a year or so before the events in Raiders of the Lost Ark
(1984). After a brief brouhaha involving a precious vial and a wild ride down a
raging Himalyan river, Indy (Harrison Ford) gets down to the problem at hand:
retrieving a precious gem and several kidnapped young boys on behalf of a
remote East Indian village.
His companions this time around include a dimbulbed, easily frightened nightclub chanteuse, and a feisty 12-year-old kid named Short Round. Throughout, the plot takes second place to the thrills, which include a harrowing rollercoaster ride in an abandoned mineshaft and Indy’s rescue of the heroine from a ritual sacrifice.
In the beginning of the film, Indiana instructs his
companion to stay out of the light and follow his steps exactly behind him.
Of course, the man gets greedy and this ends in a Mortal Kombat style fatality.
Here is Indiana Jones the Atari game.
And here is Mortal Kombat.
If you truly want to be successful, you must learn to listen
to those that are more knowledgeable than you are.
That is why I listen to and read the shareholder letters of
Warren Buffet.
He says stay away from debt and ALWAYS have cash reserves.
This simplistic and basic money advice is why his company Berkshire Hathaway has the most expensive stock on the NYSE at over $300,000!
According to The Motely Fool, one takeaway from the annual
shareholder letter (which are excellent reading sources for learning about
investing and life) is the following: At the end of 2018, Berkshire Hathaway
had nearly $112 billion of cash and equivalents on its balance sheet,
officially consisting of $30.4 billion in cash and $81.5 billion in short-term
Treasuries.
There is a scene in the film where our hero is poisoned. But, there is a cure.
The anecdote is rolling around on the floor and so are
millions of dollars in diamonds in a small jewelry bag.
Willie comes across the anecdote while trying to find the diamonds. Instead of casually dismissing it as many might have, she picks it up and puts it in a safe place. This ultimately saves Indianaâs life.
There are times in your life when you will have to choose:
right or left.
I prefer to choose the path of least resistance but also the
one that will help the most people.
Remember: The needs of the many outweigh the needs of the few.
In The Wrath of Khan (1982), Spock says, âLogic clearly dictates that the needs of the many outweigh the needs of the few.â Captain Kirk answers, âOr the one.â This sets up a pivotal scene near the end of the film.
Speaking of Star Trek, I read William Shatnerâs book Live
Long and⊠which was pretty good.
He says to spend the money on the living. No expensive funerals or caskets. Pay for what you want in cash and if you donât have the money, then you canât afford it.
RULE #3: WHEN IN DOUBT, RUN
Indiana comes across another archaeologist that steals his
stone he just risked his life to get!
Instead of trying to fight for it, he lets the man take it. While
the man is distracted with his patting himself on the back and his own vanity,
Indiana makes a run for it! And keeps his life long enough to fight another
day.
The same rules apply when buying stocks or spending money.
If the risk is too high for you, then sell. You will sleep better at night. Forget trying to get you money back. That is like gambling in Vegas.
Or if you just so happen to come across someone in a nice
suit and briefcase that promises to double your money, pass.
There is no such thing as guarantees. All risk involves
possible losses. That is why you do your homework and take calculated risks.
If it sounds too good to be true, RUN!!!
In the book called Winning
the Money Game: Lessons Learned from the Financial Fouls of Pro Athletes by
Adonal Foyle. He was an NBA player who describes the things he says while
playing in the league in regards to how other athletes dealt with financial
management or lack thereof.
He that said you should learn the basics of money and that
you should rule your money or money will rule you. He saw many people lose homes,
cars, wives, and careers.
In addition, he said you should audit anyone who comes into contact with your money. That includes family. Even your MOM!!! Shocking right???
Volunteer to be a troop leader like Phyllis Nefler in Troop Beverly Hills.
Donate to college scholarship funds.
The point is to get involved.
You are powerful. More powerful than you know.
One person can change and lift all tides.
Case in point, the late Senator John McCain voted against the repeal of the Affordable Care Act. That vote saved MILLIONS from losing healthcare coverage! One man. One voice. One vote.