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An eye for learning

As a general thought, I noticed the trend away from traditional university anecdotally firsthand from a friend I work closely with in real estate investing. …


The following is a Facebook comment thread in response to this NY Times article: https://www.nytimes.com/2018/09/01/style/fire-financial-independence-retire-early.html?smid=fb-nytimes&smtyp=cur

It will be cleaned up into a proper blog post sometime in the future.

リアルスキ ブラデミル So I find all these “guides” and the promises they have misleading. If you actually look and read all these people espouse, they convince you to pare down your like to living on 30–40k a year for basically the rest of your life. They use their lifestyle to save a ton of money quickly (obviously having immense privilege to be able to do so), then move to a low cost state (usually with no sales tax or could also be a low cost country — see digital nomad) to live on the income from their capital. However, they fail to mention or don’t make obvious certain key things: they usually still keep a source of income (be it owning real estate and getting rent, part time job, or running a blog teaching their method to others!), and they also generally need to find some way to get health insurance as well since that can rapidly bankrupt all those hard earned dollars. At the end of the day, they use their privilege to get to a point where they can detach from society and either stop contributing altogether or contribute at a fraction of the level they are expected to, having extracted maximum perceived benefit. …


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The rich get richer and the poor get poorer partially for lack of sound financial education. It’s not part of the public school curriculum. It becomes up to the parents to teach their children financial literacy. Rich people end up teaching their children how to be rich, and poor people end up teaching their children how to be poor, if they teach them at all, since they never learned any other way. So how do we bridge that gap and take the poor and middle class higher?

Below is my comment response to the above image, modified to expand to a full blog post. Please don’t get me wrong; obviously there’s plenty of other factors that go into why the majority are born poor and most remain poor, but I argue so long as this capitalist society exists, a sound financial education and knowledge of concepts such as the Cash Flow Quadrant and the U.S. credit and tax systems and how to play the game is key to elevating the individual (even an immigrant such as myself) out of poverty and into a true American Dream™ (not the middle class one the banks sold to the Boomers, more on this here and here). …

About

Earl Co

Electronics Engineer, Real Estate Investor, Entrepreneur. BS Computer Engineering ’16 NYU Tandon. Don't just be a number, make yourself count.

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