Duke_Baruch_or_Bust_v3
00:00:00.000 | This Financial Samurai podcast episode is proudly sponsored by Danielson Legal, a boutique
00:00:05.940 | law firm helping technology companies with their intellectual property, corporate matters,
00:00:11.840 | technology law transactions, and litigation since 2008.
00:00:24.800 | Hello everybody, it's Sam from the Financial Samurai podcast and I have with me a special
00:00:29.700 | guest, my wife, Sydney.
00:00:31.560 | And in this episode, we're going to talk about the benefits of community college and whether
00:00:37.280 | students should take it easy during their middle school and grade school years and not
00:00:43.420 | stress so much about getting into one of these elite colleges.
00:00:48.600 | So there's a great article out there called Duke, Baruch, or Bust?
00:00:54.240 | Parents debate if pricey private schools are still worth it.
00:00:57.360 | Let me just read a little bit from the article to give you an idea of what it's talking about.
00:01:02.520 | Clara is a mother whose son is a rising senior at an elite private school in Miami.
00:01:08.320 | For the past few years, as his peers have been beefing up on extracurriculars and thinking
00:01:13.460 | about how to best translate their passions into projects that will stand out to college
00:01:18.620 | admissions officers, Clara's son hasn't been doing any of those things, and Clara, the
00:01:24.480 | mother, is thrilled.
00:01:26.880 | Having watched acceptance rates plummet to the single digits as the cost of college has
00:01:31.000 | skyrocketed, Clara's family is happily resigned to not gunning for the Ivy League and the
00:01:36.720 | top 25 schools that most of her peer groups seize as the crowning achievement of a gilded
00:01:42.920 | high school career.
00:01:44.680 | This means that her son is limiting the number of AP courses he takes to five throughout
00:01:49.520 | high school.
00:01:50.760 | Some kids take as many as 12.
00:01:53.000 | And if he says he feels like he doesn't want to do soccer this term because there's too
00:01:56.320 | much on his plate, no problem, Clara says.
00:02:00.160 | We decided his health and wellness are much more important than getting a weighted 5.0
00:02:05.520 | GPA, having no social life, being stressed, and doing homework until two in the morning.
00:02:12.960 | So what are your thoughts about Clara's attitude and her son's attitude towards taking it more
00:02:19.960 | easy during high school?
00:02:21.960 | The thing that jumped out to me the most was 12 AP classes?
00:02:26.960 | How many kids are able to take that many?
00:02:29.400 | That sounds crazy.
00:02:31.400 | Five?
00:02:32.400 | Five itself is a lot, way, way above average, I would think.
00:02:37.960 | Maybe above our average, but not today.
00:02:41.240 | These days, it's all about mega competition.
00:02:44.040 | I guess a lot has changed since we went to school.
00:02:46.800 | I think I took, I can't even remember.
00:02:49.480 | Maybe I took three APs in high school, and that was tough.
00:02:53.520 | Well, that's why you ended up at William & Mary with me, because we were just average.
00:03:00.440 | So what are your thoughts about taking a more easy course load in high school and not worrying
00:03:07.720 | about getting into one of these top 25 or top 50 colleges?
00:03:12.520 | Well, I think it depends on how you define easy.
00:03:17.480 | If you consider easy 5 AP classes, that to me sounds like her son is still trying very
00:03:24.720 | hard and doing well.
00:03:27.160 | I don't think, again, we don't have a high school student right now, so I don't know
00:03:31.560 | if that's really the norm to take a minimum of 5 AP classes.
00:03:37.160 | She knows her son best.
00:03:39.380 | It sounds like what his peers are doing is just not feasible for her son's mental health.
00:03:49.380 | I think that's great that they've found a healthy balance for him and their family.
00:03:55.960 | If going to community college is better for balance, then that's the best way to go.
00:04:02.900 | So imagine if you went to private school for 13 years, you spent $500,000 for private grade
00:04:08.500 | school and you went to community college.
00:04:10.540 | What are your thoughts about that?
00:04:12.100 | I think there's nothing wrong with going to community college.
00:04:15.580 | And even if you do, you can still have the option to transfer at some point during your
00:04:21.820 | college duration.
00:04:24.900 | What do you think?
00:04:25.900 | I think community college is the way to go for people like us.
00:04:30.420 | We went to state schools.
00:04:32.140 | We don't have really high academic achievements.
00:04:35.620 | Just look at our SAT scores, they were quite mediocre.
00:04:38.980 | We're Asian-American, so we have this Asian penalty for some reason to need to score even
00:04:43.660 | higher to get the same chances for our kids to get into college.
00:04:48.500 | So I feel like for us, there's really little to no hope to get into a top 25 or top 50
00:04:55.100 | university, especially the private ones, because they have their standard criteria and they
00:05:00.420 | pick and choose who gets in and who doesn't.
00:05:02.660 | And a lot of times it's subjective.
00:05:04.780 | And so I was thinking to myself, well, maybe community college is the way to go.
00:05:08.580 | And I wrote a post about community college being a great option.
00:05:13.100 | And I got so many great responses from the readership.
00:05:17.340 | For example, Champ, a reader named Champ said, "Both of us went to community college and
00:05:21.580 | earned six figures before we both retired in our 60s.
00:05:25.940 | All our children went to community college and transferred to state universities.
00:05:30.860 | Total college costs for five children, $180,000.
00:05:35.220 | No grants, no scholarships, nothing.
00:05:37.520 | They paid their own way.
00:05:38.820 | They all earned over six figures.
00:05:42.500 | And one son and his wife earned seven figures.
00:05:46.260 | Relocate and live responsibly instead of high rolling nonsense."
00:05:51.220 | And I really love that feedback.
00:05:53.780 | And after I wrote the post, I had another 40 plus commenters who went to community college
00:05:59.940 | and they're all making six figure incomes.
00:06:02.500 | They're all living pretty healthy quality of lifestyles.
00:06:05.980 | And I'm thinking to myself, this sounds like the way.
00:06:09.860 | Maybe two years community college, it's probably going to be free by the time our kids go to
00:06:14.220 | school.
00:06:15.220 | They can transfer to a four year state university if they want to save more money.
00:06:19.660 | Or if they can get scholarships, they can transfer to a private four year university.
00:06:25.460 | Sounds good to me.
00:06:26.660 | Are you on board?
00:06:27.660 | - I don't have any problem with that.
00:06:29.380 | Because this is something that I'm really thinking about.
00:06:31.340 | Because I don't want to go through having a stressed out son and daughter who thinks
00:06:36.900 | they must take 10 AP courses and get a 5.0 weighted GPA and do all these extracurricular
00:06:43.820 | activities and try to save the world.
00:06:46.100 | It just seems ridiculous to me.
00:06:49.220 | - It's way too competitive.
00:06:51.300 | And we're going to figure things out when the time comes.
00:06:54.500 | And we're going to do what's best for them.
00:06:57.980 | And even, let's say they, for some reason, they got into one of the top colleges based
00:07:06.260 | on a talent, for example.
00:07:08.380 | But we knew that they would not be able to keep up academically.
00:07:13.620 | Even if they got into that top school, I'm not sure I would want them to go if I knew
00:07:17.460 | that they would be struggling for four years.
00:07:21.220 | I think there is a lot of value in balancing mental health and going to a school where
00:07:27.860 | you will feel confident.
00:07:32.220 | You'll be able to excel.
00:07:33.620 | You'll be able to learn at a pace that you can keep up with.
00:07:37.560 | So that when it comes time to graduate, you'll be in a good headspace and have a good foundation
00:07:44.580 | and have built relationships with your professors and your peers and be ready to jump into the
00:07:50.860 | real world.
00:07:52.740 | - Right.
00:07:54.180 | I would also want to share a comment from Zen Master.
00:07:58.620 | And he's interesting.
00:07:59.620 | I think he's a lawyer.
00:08:00.980 | And he's so candid in his thoughts and the comments.
00:08:03.900 | He was just saying, "I've got my twin daughters and they are just depending on me for everything.
00:08:11.980 | They went to private universities.
00:08:14.300 | Doesn't seem like they'll be able to get good jobs.
00:08:17.060 | Whenever they have some kind of expense, they call me to ask for money."
00:08:22.060 | And one of them is an adult who's graduated already.
00:08:25.380 | And I asked him, "Why not just not give her the money?"
00:08:31.300 | And he goes, "I just can't do it.
00:08:32.300 | I'm too dependent on her."
00:08:34.260 | And so I asked him, "Why, if you could rewind time, why did you end up going this route
00:08:40.180 | of super privileged lifestyle, private college and everything?"
00:08:45.020 | And one of the reasons he talked about was peer pressure.
00:08:49.560 | He was saying even though he realized that giving them all the privileges in the world
00:08:55.940 | was maybe not a great way to harden them up, right?
00:08:59.620 | Because if you are soft, you create soft kids.
00:09:02.420 | If you are hard, maybe you create harder kids.
00:09:06.260 | And he said peer pressure, in terms of peer pressure from other parents, from teachers,
00:09:12.300 | from guidance counselors, from other friends, parents, right?
00:09:17.300 | Who have kids.
00:09:18.900 | He said he just couldn't say no to that private college route due to peer pressure.
00:09:24.300 | Do you think you will succumb to peer pressure, Sydney, from other moms and other dads out
00:09:29.140 | there?
00:09:30.140 | I don't think so.
00:09:31.260 | I think I'm pretty chill in general in terms of my personality and lifestyle.
00:09:37.340 | Because at the end of the day, we want our kids to be happy.
00:09:39.900 | We want them to succeed.
00:09:41.340 | We want them to feel confident.
00:09:44.500 | And even if they somehow manage to get into a top private university, if we knew that
00:09:49.420 | that wouldn't help them succeed in life, then I don't think we would encourage that.
00:09:55.580 | We would obviously have many discussions together to figure out what we felt would be the best
00:10:03.260 | decision.
00:10:04.260 | Ultimately, they would need to choose because it's their decision, their life.
00:10:09.180 | But I don't think I would succumb to peer pressure.
00:10:13.100 | Why would we want to make someone else happy if it's not going to benefit our children?
00:10:17.860 | Okay.
00:10:18.860 | Well, let me ask you this then.
00:10:21.020 | What do you think about sending our kids to public school and saving a lot of money over
00:10:26.520 | the next 12, 13 years, given we don't succumb to peer pressure?
00:10:33.220 | And the path to community college sounds like a good one.
00:10:38.020 | It all depends on circumstances and there are a lot of challenges that we've witnessed
00:10:45.180 | in the San Francisco public school system that we don't feel are the best fit for our
00:10:50.820 | kids.
00:10:52.460 | And for some families, it's great and I'm all for that.
00:10:57.320 | We just have to look at what works best for our own family.
00:11:01.340 | Yeah, because I know if I was six years old, let's say, and my parents said, "Would
00:11:08.820 | you like to go to a private grade school and get no money upon graduating from high school?
00:11:15.180 | Or would you rather go to a public school and get $500,000?"
00:11:19.060 | I would say, "Give me $500,000 for sure."
00:11:22.640 | And one of the reasons why is because I went to public school in high school and it was
00:11:28.300 | fine.
00:11:29.300 | Obviously, there were some ups and down moments, but I was like, "Give me the $500,000.
00:11:33.660 | That's a no-brainer."
00:11:34.660 | And if I can invest this...
00:11:35.660 | You're talking about asking a six-year-old this?
00:11:38.500 | Come on.
00:11:39.500 | That's not...
00:11:40.500 | I know it's not realistic, but you can ask a 13-year-old before he or she goes to private
00:11:47.180 | high school, "Would you rather have, let's say, $200,000 or $250,000 and go to public
00:11:54.620 | school, public high school, or go to private high school?"
00:11:57.940 | I think these are questions we need to ask as personal finance people.
00:12:01.700 | We need to understand the opportunity cost.
00:12:04.260 | Because let me continue in this article on Duke or Baruch and where this quote came from.
00:12:09.380 | So this mother gave her son, who attends an elite Manhattan high school, an ultimatum.
00:12:14.220 | "It's either Duke or Baruch.
00:12:17.580 | I'm not paying $80,000 a year so you can go to Middlebury and learn to build a bonfire."
00:12:23.420 | Although the family has means and can afford a school like Middlebury, one of the top liberal
00:12:27.700 | arts colleges in the nation, with a 14% acceptance rate, the mother doesn't see the practicality
00:12:33.660 | of paying for a so-called "select tier 2" college in today's world.
00:12:39.020 | Her feeling is that an Ivy or Ivy-like school like Duke, Stanford, MIT, etc. degree offers
00:12:45.260 | a level of prestige that will more readily translate into job opportunities, thus justifying
00:12:52.500 | the price.
00:12:53.860 | And I thought this quote was awesome because my Mandarin teacher in college decided to
00:12:59.420 | leave the College of William & Mary and go to Middlebury.
00:13:02.180 | And I remember Middlebury always being a wonderful liberal arts college with a wonderful, wonderful
00:13:07.180 | language program.
00:13:09.380 | And this is also a school that you and I probably would never be able to get into because of
00:13:14.940 | its low acceptance rate.
00:13:17.460 | And in retrospect, I'm thinking to myself, "Yay!
00:13:19.660 | I'm glad we weren't able to go to these expensive schools because we were able to graduate without
00:13:24.500 | a lot of debt and move on with our lives."
00:13:27.700 | So, I guess my hope is, it sounds great to me, so you think you're not going to succumb
00:13:35.420 | to peer pressure.
00:13:36.420 | I feel I'm a little bit more realistic when I see other people with a nice car or a nice
00:13:42.460 | house, you know, promotions and pay.
00:13:45.700 | I feel a little bit like, "Oh, I want to have a nice house.
00:13:50.380 | I want those nice shoes.
00:13:52.500 | I want that nicer car.
00:13:53.900 | Why not me too?
00:13:55.220 | Why not for our kids too?"
00:13:57.540 | You sure you don't feel any of that?
00:13:59.540 | No, it's just a very simple example.
00:14:03.360 | We go to a lot of events, playdates and whatnot.
00:14:07.860 | And there's moms there who are always fashionable and looking great.
00:14:13.820 | And I think that's awesome.
00:14:15.440 | For me, I'm just not into that.
00:14:18.540 | I would much rather buy a cheap outfit at Target or whatever because I know I'm going
00:14:24.900 | to get stains on it within a week.
00:14:27.900 | That's just who I am.
00:14:29.340 | I'm just very practical that way.
00:14:31.060 | But everybody spends money differently.
00:14:33.500 | I don't even know if you would consider that peer pressure in terms of looking your best.
00:14:38.140 | Yeah, it is social pressure.
00:14:39.820 | I don't feel peer pressure to change myself in order to fit in.
00:14:45.220 | I've never heard anybody say that they don't experience any peer pressure.
00:14:50.740 | I remember when I met you in college, there was the grunge phase and you had baggy pants
00:14:57.060 | and bell bottoms and stuff like that.
00:14:59.460 | Isn't that peer pressure?
00:15:01.220 | So what I experienced as a student is different than what I experience now as an adult.
00:15:07.360 | I think there was a lot of pressure to fit in at school.
00:15:12.620 | You didn't want to be the odd one out and not have friends.
00:15:16.340 | I have adult friends who I have similarities with and also who I have plenty of differences
00:15:21.740 | with, but I'm confident with who I am now as an adult.
00:15:25.340 | So I don't feel the same types of peer pressure that I did when I was younger.
00:15:31.460 | Do I feel some pressure for our son and daughter to be well-behaved and to socialize?
00:15:38.260 | Well, yes, I do have that kind of pressure.
00:15:41.380 | So you're saying if one of your good mom friends, for example, son, ended up getting
00:15:47.180 | into a top 20 university, you wouldn't feel a little bit envious or pressured or like
00:15:54.860 | you noticed that he was doing really well academically freshman and sophomore year,
00:16:00.100 | entering all these competitions, doing great on PSAT, doing all this extracurricular.
00:16:04.700 | You wouldn't feel like, "Oh, maybe our son should do the same?"
00:16:08.700 | I might feel some jealousy in terms of achievements, but again, we've talked about this before
00:16:16.300 | in terms of sports.
00:16:18.340 | There's a lot of parents out there who are sending their kids to three to four different
00:16:23.980 | sports activities a week.
00:16:25.620 | Their kids are having fun.
00:16:27.580 | Great.
00:16:28.620 | For us, I don't feel that's necessary.
00:16:31.380 | Our son isn't that into sports.
00:16:33.500 | So why would we want to put him through that if he's going to be miserable and it costs
00:16:37.780 | money?
00:16:38.780 | We find other activities that he's interested in.
00:16:41.660 | Swimming, for example, you guys worked on that.
00:16:44.140 | That's something that was a sports activity that you guys focused on and he loved it.
00:16:49.580 | So we're going to focus on things that our kids are interested in and be happy with that.
00:16:55.420 | I hear you.
00:16:56.420 | I believe you.
00:16:58.060 | But I think when the, what is it called?
00:17:00.980 | When the rubber meets the road, when it's time, when he's in high school to apply to
00:17:06.340 | college and get a job or whatever, I think you're going to feel a little bit different.
00:17:12.820 | I think it's important for parents to actually pull or push, whatever the phrase may be,
00:17:18.500 | a little bit more than kids will do on their own so they can self-discover and they can
00:17:25.140 | meet their potential.
00:17:27.020 | One story for me is I liked tennis growing up, but I wasn't pushed hard enough to train.
00:17:32.580 | I didn't get coaches.
00:17:33.900 | I didn't enter tournaments.
00:17:35.580 | As a result, I wasn't as good as I could have been.
00:17:39.180 | I'm good, but I'm not great.
00:17:42.820 | I always wonder, wow, what if my parents pushed me harder to train more on the tennis side,
00:17:48.540 | gave me a better framework, more consistency?
00:17:51.180 | I think I would have been better and I definitely think I could have played for college.
00:17:54.820 | I was recruited for a D3 college.
00:17:56.940 | I think that's why you and I are so involved with our kids.
00:18:01.220 | That's something that we really care about and we want to be able to support them in
00:18:05.940 | their biggest interests.
00:18:07.460 | I think what will affect me way more emotionally is if, let's say, our kids have their hearts
00:18:14.060 | set on a specific school and we've talked about it and we think that school is within
00:18:19.140 | reason, they apply to it and they get rejected.
00:18:22.140 | That's going to hurt me way more than their classmates getting into a school.
00:18:27.900 | If it was the same school that our kids wanted to get into, then yeah, that's going to hurt.
00:18:33.380 | The classmate got in and our kids didn't.
00:18:35.700 | We would say, "What's wrong with us?"
00:18:38.460 | That's going to hurt.
00:18:39.460 | That's going to hurt.
00:18:40.460 | I'd be way more emotional about that.
00:18:42.380 | I think the reason why I'm more sensitive to rejection is because I've been rejected
00:18:46.900 | way more times.
00:18:48.780 | I'm always putting myself out there, whether it's trying to get business when I was working.
00:18:53.660 | Nobody would pick up the phone, respond to my emails.
00:18:55.700 | They'd say, "No, no, no, no, no, no, no, no, no, no."
00:19:00.180 | I compete in USTA tennis at the 4.5 and 5.0 level.
00:19:04.860 | I lost so many times, but I kept on competing.
00:19:09.180 | Many times when I lost, I felt crushed for a day.
00:19:11.740 | I was like, "Man, I trained so hard and I still lost.
00:19:14.260 | How frustrating."
00:19:15.260 | I started Financial Samurai in 2009.
00:19:18.660 | I remember trying to join these blog networks, which were popular at the time.
00:19:23.060 | I got no's from all eight.
00:19:25.540 | Like, "No, no, no, no, no, no.
00:19:27.260 | Who the hell are you?
00:19:28.340 | Go away."
00:19:30.340 | But I just keep on trying.
00:19:33.420 | Over time, I've become more hardened, but I still feel that sting, that pain of rejection,
00:19:40.460 | which as a father, I know our kids will get rejected so many times.
00:19:45.620 | Whereas I think for you, you had a different type of job when you were working and you
00:19:50.580 | don't put yourself out there as much as I do, which means you don't feel that sting
00:19:55.060 | of rejection as often.
00:19:57.020 | Is that a fair assessment?
00:19:58.700 | In terms of the type of job that you had, yeah, for sure.
00:20:01.940 | I experienced a little bit of that.
00:20:04.020 | When I had in college, I had this very, very minimum, low minimum wage job where I had
00:20:09.620 | to try to raise, fundraise for the school.
00:20:13.540 | I had cold call people.
00:20:14.940 | It was awful.
00:20:15.940 | I hated that job so much.
00:20:17.540 | And yes, I was rejected probably 99.9% of the time on all those calls.
00:20:23.860 | So you didn't succeed at all?
00:20:24.860 | It was awful.
00:20:25.860 | I did not succeed.
00:20:26.860 | I was like, "I cannot be in sales when I graduate from college."
00:20:31.660 | Yeah.
00:20:32.660 | Yeah.
00:20:33.660 | So yes, in the type of role that you had at work and all of your athletics, yeah, you
00:20:41.820 | definitely had to face way more rejections and failures than I did.
00:20:48.660 | Well, so maybe what we should do is to kind of equalize how we feel about rejection and
00:20:53.580 | failure and the sting is to get you to put yourself out there more.
00:20:58.420 | Maybe try to send a manuscript to a publisher, for example, or try to do competitive orchestra
00:21:07.980 | or violin or do a solo.
00:21:10.980 | Really put yourself out there.
00:21:12.300 | I've done stuff like that and not gotten the results that I've wanted.
00:21:16.780 | Sure.
00:21:17.780 | I've had plenty of rejection in my life as well.
00:21:20.900 | So how about we just continue to do that because it's been years since you did that.
00:21:25.580 | So you want to put the pressure on me?
00:21:27.980 | Yes, because if you feel the pressure and you get rejected at this age, then we'll always
00:21:33.380 | know what it's like to try really hard and fail, which would make us, I think, a little
00:21:38.500 | bit more empathetic.
00:21:39.500 | Okay, I'll try out for America's Got Talent.
00:21:42.500 | I'll get rejected before I even get my audition taken.
00:21:47.180 | Yes.
00:21:48.180 | All right.
00:21:49.180 | Great.
00:21:50.180 | Promise me you're going to do some audition and try.
00:21:52.420 | Try.
00:21:53.420 | You never know.
00:21:54.420 | But I feel that a lot of people don't try to put themselves out there, try to do something
00:21:57.420 | entrepreneurial or new is because they're afraid of rejection and then it just hurts
00:22:02.220 | so much.
00:22:03.380 | For some reason, I have this defiant attitude.
00:22:07.060 | If you reject me, I don't care.
00:22:08.300 | I'm going to do it anyway.
00:22:10.220 | But I think that's a personality trait, but it's also honed over years and years of experience.
00:22:16.060 | Yeah, there's this common thing that people are too afraid to try because they're afraid
00:22:21.300 | that they can't do it.
00:22:22.580 | I think that's a common fear that a lot of people face.
00:22:27.820 | Okay.
00:22:28.820 | Well, we don't want our kids to get rejected, but I think rejection is good because it makes
00:22:33.060 | them appreciate and try harder.
00:22:34.940 | But I think we can't set their expectations if you agree to have them go to community
00:22:39.100 | college.
00:22:40.100 | Right?
00:22:41.100 | It's cheaper.
00:22:42.100 | It's two years.
00:22:43.100 | It doesn't require you getting straight A's in high school to go to community college.
00:22:47.860 | And if they do well in community college, they can always transfer to a four-year state
00:22:51.260 | school or private school.
00:22:53.380 | What do you think about going forward this plan as they enter middle school and high
00:22:58.980 | school?
00:23:01.140 | I think it's something that we're going to keep open and we will apply to – I think
00:23:07.300 | we're going to have to apply to a lot of schools.
00:23:08.980 | I feel so many people – it's just like a numbers game.
00:23:13.580 | You have to apply to a bunch in hopes that you'll get into one or two.
00:23:18.180 | Right.
00:23:19.300 | And just for people curious about what the average income is for people who graduate
00:23:23.180 | from community college, it's about $33,000 to $34,000.
00:23:27.540 | And the average income for people who graduate from a four-year state school is closer to
00:23:31.620 | $50,000 to $55,000.
00:23:34.260 | And I think the average income for Ivy League graduates is about $5,000 to $8,000 higher
00:23:41.060 | initially.
00:23:42.460 | But it's still not that impressive if you graduate from an Ivy League university.
00:23:46.620 | I have an article on this.
00:23:48.060 | I forgot the exact numbers.
00:23:49.420 | But I was thinking to myself, "What?
00:23:50.780 | That's all you make five years out of college from an Ivy League or 10 years out?"
00:23:54.620 | I was thinking to myself, "Why stress over for five to eight years of your life during
00:24:00.300 | grade school to achieve that when the chances are 95% to 99% chance you're going to get
00:24:08.220 | rejected?"
00:24:09.220 | All right.
00:24:10.220 | Well, I'm really pleased by that because one of my stresses is are children doing well
00:24:16.300 | enough in school to get into a decent college, to get a job and be financially independent
00:24:22.620 | or at least independent from us?
00:24:24.580 | Because there's nothing greater.
00:24:26.380 | Well, there are other things greater, but it feels wonderful to be independent and not
00:24:32.540 | have to rely on your parents once you're an adult.
00:24:36.420 | Especially as, I don't know, I think as a male, because as a male, not only do we – I
00:24:41.340 | feel like we have to take care of ourselves.
00:24:43.780 | We have this growing up aspect where we're thinking, "Oh, we've got to provide enough
00:24:47.620 | to take care of the family."
00:24:49.140 | And I know things have changed over time, but that's how I felt.
00:24:52.420 | Any last words before we let the audience go?
00:24:55.220 | I just wish the best of luck to all the parents out there who are going through the application
00:25:00.180 | process this year.
00:25:01.460 | All righty.
00:25:02.460 | Well, thank you everyone for listening.
00:25:04.780 | This episode of Financial Samurai is proudly sponsored by Danielson Legal.
00:25:09.540 | Danielson Legal is a boutique law firm that has been helping tech companies since 2008.
00:25:15.060 | They pride themselves on prompt attention to their clients' day-to-day legal needs,
00:25:19.660 | including intellectual property, corporate matters, technology law and transactions,
00:25:24.820 | and litigation, with pricing designed to provide value to their clients.
00:25:29.660 | You can find them on the web at www.danielsonlegal.com.
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00:25:45.020 | You'd also love a share, a review and a rating of this podcast.
00:25:49.860 | It helps keep us going.
00:25:51.300 | And we'll talk to you all later.
00:25:52.300 | Thanks.
00:25:53.300 | Bye.
00:25:53.500 | Bye.
00:25:54.000 | [MUSIC PLAYING]
00:25:58.540 | (gunshot)
00:26:00.720 | You