The Big College Scam
Money Magazine recently wrote an article about the Best Colleges for your Money. They scored schools on educational quality, affordability, and career success. They readily admit college is expensive. Let’s face it, college isn’t affordable for middle-class families because you can’t pay $20-70K a year when that’s all you earn. With the cost of education rising, student debts are out of control.
According to Money’s survey, Princeton came out on top as the best school for your money. The University of Michigan came in at number two. I couldn’t even find my alma matter McNeese State. For the #1 college Princeton, the sticker price is $65K a year. Most colleges on the list will leave you with big time debt and an average salary. Oh, and less than 100 of these academic institutions even have sales programs or courses on making money.
No wonder students and grads have such average salaries. With the growing debt and the lack of any real world benefit from spending 4 years at college, more and more people are turning to online education. It’s easier to be one-click away from information and people don’t want to be fed a business or marketing curriculum that was put together in 1992.
Things are changing so fast today. A year ago Meerkat was exploding as one of the first video streaming platforms—now it’s already gone. Now the Pokemon app dominates the news. These things won’t last long, they are just trends. Don’t invest in trends and don’t invest in dated training. If your education or training platform hasn’t been updated in the last year, it’s dated.
You can get a diploma anywhere, but diplomas won’t get you rich. There are millionaires being made each day in this country, and you don’t need to go to college to become one of them. If you want a superior education at an affordable price that prepares you for the real world, get on Cardone University. The ROI will be much higher and you don’t need to go into massive debt. Really, you don’t have to go into much debt at all—you can pay it off in one shot or just go the payment plan. You can learn at your own pace and immediately apply what you learn in the marketplace.
Here’s just one thing no college teaches you. Let’s say you are making $5K a month, $60K a year. You are firmly in the middle class, which means you are basically spending what you make living paycheck to paycheck because your mortgage, car, health insurance, food, transportation, and everything else eats up your income. You’d like to be saving $10K a month in order to have a few hundred grand to put down on an investment property in a couple of years. How do you get there? How do you save $10k a month if you are only making $5k a month?
Use this magical income formula:
(Future Savings Monthly + Current Spending Monthly) x 1.45 = Income Target
If I want to save $10K a month and already live on $5K I multiply that by 1.45 to get your target income of $21,750 per month. This allows for taxes and will net you the $15k you want.
Don’t know how to increase your income? I teach you how in my Playbook so you can reach real financial goals. Most people in college don’t believe getting rich is a possibility—they have the mindset that you can get $50-70K a year, maybe $80K if you are lucky, but becoming a millionaire is reserved for when you are 90 years old after a lifetime of saving here and there. Who wants to wait until they are too old to enjoy their money? Why not get rich at 40, or even 30?
In order to reach a certain income, you first need a specific target. Have you ever even considered what your income target should be? Consider if you don’t have any savings, it’s because you haven’t done any millionaire math. I go into detail on this in my Playbook.
Look, you may be thinking about going to college, or maybe you went to college and have been disappointed by the results, get on my Playbook. Money Magazine can rank all of the colleges but the fact is none of them are affordable for the average person in America today.