"Get a 4 year degree and you're set for life!" This the advice that has permeated America for the better part of the last 60 years. We find that many people are getting degrees for the sake of getting a degree, or for getting the "college experience" rather than actually going to learn a meaningful skillset.

In this episode we examine the chapter "A different look at the monetary value of a college degree" from the book "Becoming your own Banker". We think our listeners will be interested in this unique perspective on the true opportunity cost of a college degree for those that don't have a specific calling.

 

"So, in evaluating just the financial benefits of the college degree at a cost of $80,000 vs putting that same $80,000 into a high premium whole lifeinsurance, I dont believe the degree is as valuable. As a matter of fact, the probability of the college educated person ever learning the benefits of "banking though the use of whole life insurance is not very good. He will be exposed to some professor teaching him that "whole life insurance is a very poorr place to put money." It will take a lot of effort to get this notion out of his head, because "unlearning" is more difficult than learning. I think that Professor Rotfield might explain it, "He has been trained instead of having learned to think. please remember that I am not against higher education. To the contrary, I believe it should be a life-long activity. But observation leads me to conclude that we have a lof of people in America with degrees- but not many of them are educated?" -R. Nelson Nash, Becoming Your Own Banker, Unlock the Infinite Banking Concept.

 

Connect with Doug MacKenze:

Website: Control Capital Solutions

Email: [email protected]

 

Connect with john Fox Ward:

Website: Nash Cashflow - The Nash CashFlow Group

Email: [email protected]