Rich and Marcus are by themselves today on the show. They kick off the episode by discussing the importance of mental health and breaking out of patterns that you continuously find yourself in. Then they leap into the topic of the day where they discuss the decision by Billionaire and Cornell Alum, Robert F. Smith to pay off the student loan debt of the 2019 graduating class of The Historically Black University, Morehouse College. There’s some buzz on the internet surrounding this where some people are in support of Smiths decision, and others who think that it’s unfair to those who had to pay off their own debt. Mind you these debt payments will be made in the form of philanthropy by a private donation and aren’t involved with any kind of government assistance. Marcus and Rich give their take on the situation which brings up the broader issue of receiving things vs. earning things and having trouble accepting the hands that others are dealt.

 

Highlights:

• Robert F Smith’s donation vs. Senator Elizabeth Warren’s Government Aid Plan
• Having a scarcity mindset
• Earned rewards vs. Gifts
• Someone else doesn’t have to lose for you to win. It’s not a zero sum game
• Feeling like you have to apologize for your success
• Obtaining equal financial literacy information
• The cost of college and deciding if the benefits of a degree are worth the debt

 

Key Takeaway: Robert F Smith and Elizabeth Warren both have good intentions, but the real issue that should be discussed is how the US can make college more affordable, so that young students don’t find themselves in a pile of debt.

 

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Mentioned on This Week’s Show:

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