Beyond the big sticker price, New York Times money columnist Ron Lieber has a different mindset than most about college costs. After Ron explains why most of our assumptions on college costs are wrong (that includes you), he’ll share three key criteria about what we’re really looking for when it comes to higher education. We’ll also tackle the no-college route, which comes with its own surprising set of misconceptions that have grown over time. What’s the bottom line? There’s a whole lot more to think about than the price tag, no matter which path you choose. We’ll cover all of the options, threats and opportunities on today’s show.
In the financial headlines segment: is the sky finally falling on the stock market? For the twentieth time , NO! Despite what non-stop headlines tell you, the market will drop when it drops. Like Joe says, when it comes to the market, this is one of the few areas in life when doing nothing is the right call. Still feeling an itch to move some money around? Take OG’s advice and try to call the market for the next twenty days. If it works, call us before you do anything else, because we have an offer for you. If it doesn’t work, stick to the tried and true and forget about market-timing.
We’ll finish today’s show with a Haven Life voicemail from Susan. She and her husband want to set up a savings account for their grandchild but have a few questions. How can they create a sustainable system for any future grandchildren? What happens if their grandchildren are bad with money? Are there any tax implications to worry about? We’ll cover these questions, and more, for a comprehensive answer on setting up your kids for a fulfilled financial future.
As always, we’ll save some time for Doug’s (student-loan-themed) trivia halfway through the show, and much, much more (including some awesome TikTok advice….).
Thanks to our sponsors who give us the opportunity to bring you 3 shows a week!
Headlines
- The Stock Market Can’t Get Much Better From Here. Why a Correction Could Be Coming. (MarketWatch)
- Financial Technology Is China’s Trojan Horse (Foreign Affairs)
Did you enjoy our new Tiktok segment between our headlines? This will be an ongoing segment each Monday – until we run out of content anyway. Have you seen a less-than-good financial TikTok video? Send them to us! [email protected].
Ron Lieber
You can find more from of Ron’s work at his site RonLieber.com, or you can read his latest article from the New York Times here: High School Grades Could Be Worth $100,000. Time to Tell Your Child?
Looking to dive deeper on The Price You Pay for College? Order Ron’s book below:
Doug’s Trivia
- How many adults in the U.S. who are over 18 currently have Federal student loans?
- Susan and her husband want to set up savings funds for their grandchild. They ask: how can they make a sustainable system that includes future grandchildren, and what tax implications do they have to consider?
Written by: Richie Rutter-Reese
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Something is missing here. The professors have always gone to get their PhDs before they teach and that time has not increased. Why would that increase school prices above inflation? It seems like he’s doing everything he can to not mention government involvement in the student loan market.
He directly blames the cost of health care (which rose at an equally exorbitant rate).
How do other businesses manage increasing healthcare costs?
Great questions. Other businesses use technology to do the same work with fewer people.
Still no mention of student loans? Wonder if a bank would let a pottery major have $100k in loans. Odd that healthcare goes up as government gets more and more involved. What we really need to do is have them run the whole thing like the VA or Medicare.