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46 comments
Great episode and very informative
It’s absolutely worth going to a top school , with scholarship or not . Don’t listen to these cheapskates 😂
Choose wisely what field they choose and see roi
I talked my child out of State University for the first two years to get their accredited Associates degree at our local Community College. When they began college, the 529 plan I started years ago was at about $50k. Nearing the end of her 2 year degree, her 529 plan is now worth $72k, even after paying for tuition and books. I plan on taking advantage of the new rule that lets them put $7k/year from the 529 plan into an IRA.
The degree just checks the box for a job application. No one asks where you went to school. This Caller is competing for status
I make 230k and went to a community college, my wife a double major stays home with the three kids, you don’t need to go to a top tier school to make top tier money money
I’m a surgeon in training, and while it might not matter to everyone, the background of the pediatrician who will be caring for my child genuinely matters to me. If I have the option to choose between an MD trained at UCLA or Stanford versus one from a lesser-known or lower-cost medical school, the difference in training and clinical exposure can be significant. The answer, to me, is pretty clear.
As for the “anti-college” rhetoric that’s become popular in recent years—it’s getting old. Maybe prestige doesn’t matter as much in certain fields, like the social sciences, but for someone pursuing a doctorate or any highly specialized profession, the quality and reputation of the institution absolutely do matter.
Did anyone else get annoyed within the first minute and a half listening to this girl?
I never asked my doctor for his diploma because I saw it before I picked him. All their training is online.
Rich people’s problem. That’s a great problem to have.
If the school and expense was worth it was an unwarranted unnecessary question for the lady. Dave would never do that. That’s the difference between class and temporary form.
At 4:33 look the the guy in glasses shocked 😂
At 2:18, The guy in the black sweater fucking lost it! Pure gold 😂
They make 500k together. If I had to guess it worked for them.
How does somebody that dumb make $500k? Her Husband most be smart
What happens if they don’t go to school or higher education?
For 'fin advisors' they dont know sh!t about taxes – and they should. 529 plans typically have funds that are expensive and way too conservative for such a long time horizon.
5:50 mark, “it goes in tax free” is wrong. The only advantage is avoiding capital gains tax when you withdrawal for educational expenses
I’m looking for a specific answer maybe the comments can help
When creating a 529 is it better for an individual or custodial 529 plan?
She's making this Ish Up, 😂😂
This girl claims she went to a top-tier school yet, can’t even hold a conversation. She reminds me of an awkward high school student.
How about a compound interest account with an IUL
Walk through the front door of a fortune 500 company in Texas, it matters where you go to school
Facts. ❤
A "needs-based" scholarship to a top-tier school?
And IUL is better option because you can use it for literally ANYTHING and your money will grow and you can access it anytime, no penalty, tax free. And I wont be considered as assets if he wants a loan or for a scholarship. There's a lot of other benefits for it. And it doesn't have to be use for schooling only.
I got annoyed with her
Do not agree 100% here Top school makes huge difference in career , if you are smart enough your career will kick off with good companies and on a fast track to grow. Also, you study among the best minds as your classmates that learning experince is priceless. However spending 800K is stupidity, study in those colleges if you get scholarships or some grants.
Graduated from WVU in 2023 with a civil engineering degree. Cost was just shy of $10,000 per year. Today I make $75,000 per year. No college debt. EVERYONE should go to college in-state unless there are special circumstances….
Top tier school is laughable.
It is not only about the education, the contact, and the relationship you made there, but I agree with not going into debt just for the pleasure of saying you have your kid in a fancy school.
Now I wonder what she does for work
7:32 salty😂
4:35 spoken like a guy that didn’t go to a top tier school.
I was hoping for more info on the 529 and what it is. But alas, I can look it up…
Most degrees get it done. But certain colleges pending on the field will give you a head start with work. But im also the type, im not spending X amount for a particular school if my kids do not have the grades, and the will to get some type of scholarship while in H.S.
On Dave Ramsey’s website page about 529’s it says the following:
“If you put $250 a month into a 529 from the time your child turns 5 until they turn 18, you will have contributed $39,000. Invested in good mutual funds with a 10% rate of return over those 13 years, that amount would grow to nearly $80,000—a growth of almost $40,000! And here’s the best part: You would pay zero taxes on that $40,000.”
How do I know if my contributions into my child’s 529 plan is invested in a “good mutual fund” like he mentions, earning around 10%? Do some 529’s have fund choice and direction?
Lol where is the 3 year old going?? 😂
As an lnvesting enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?.
I have no idea if this is true, but my guess is the top schools use Pearson's My**Insert Subject**Lab, ChatGPT, Canvas, video lectures and digital textbooks just like every other college to teach the majority of their courses.
Something incorrect the host mentioned was that you can withdraw against scholarship amount tax free. You do have to pay taxes just not thr 10% penalty on non-qualified expenses.
I ALWAYS check where Dr and dentists went to school and how long they been practicing before I pick them up
She sounds really really silly
She should just buy property for her children instead. Then they're set no matter what career they choose. They have a place they own that they aren't burdened by the debt of. $800k is much better spent there than in an education.
Can you please give your baby 800k when she grows up she will be much better off❤
Where you go to college DOES matter for top jobs in large firms like PWC and many famous law firms. I worked in a courthouse and the judge would toss any resume from students that went to lower level schools and had GPAs lower than 3.3. Also, if you go to a small community college, you will most likely get overlooked compared to someone who goes to Yale. Does that matter for everyone? No, but this is how rich kids stay rich, by getting top paying jobs out of school. And kids of blue collar workers like me, get the bottom of the barrel jobs until we have enough working experience to move up. I’m finally making more than my rich friends in my late 30s but it took a long time.
A drivers license is a privilege if you have drivers license cars necessity
Should we $10 a month $120 a year due payable on it before your birthday to keep your license valid through over 24 million license drivers in California alone
But this would nationwide and the money would go to college fund which colleges would apply to students were not apply to this college