The Millionaire's Roundtable with Lynn Richardson Hosted by Lynn Richardson
Message: how do I pay for my daughter to go college – she can’t get scholarships – without taking out too many loans? ?
ANSWER:
If your daughter gets A’s, she goes to school for free (scholarships) and if she gets C’s she goes to the free school (state or community college – she can work & pay for it herself then transfer if she gets good grades)! ?
Either way, it’s free for YOU! ?
DO NOT MORTGAGE YOUR HOME. ?
DO NOT BORROW MONEY YOU CANNOT REPAY. ?
Retirement is your first priority. ?
You can also save on housing when your student moves off campus: you & your student buy the condo, home or townhome with the Kiddie Condo program, then rent the bedrooms out to 4 or 5 roommates.
Total Monthly Rent: $3200 ($800 per person) or more. ?
Mortgage $1500 or less. ?
Do the math; plus your student lives for free! ?
MOM’S RESPONSE
Thank you for your response but let’s be realistic, who’s forcing their freshman child to work to pay to pay for school and scholarships doesn’t come as easy even when they do receive A’s and B’s. Anyway thank you but no thanks.
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LYNN’S RESPONSE
You are welcome, in spite of your response. I can see that you love your daughter just like I love mine and you are looking for answers, hence the frustration. ?
With all due respect, if you are offended by this response, I humbly ask you to ask yourself the tough questions. Do you want to teach your daughter to pay for something she cannot afford? Rich people stay rich because they strategize. Poor people stay poor because they try to spend money they don’t have. MANY people have their children work to help put themselves through school – or they make a choice to attend the FREE SCHOOL.
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If you do not want to take loans, and you don’t have scholarships (if she is going to school this year, it’s probably too late to apply), and you don’t want her to attend the FREE SCHOOL, then you will need to come up with CASH. ?
You can also hire her to work in your business, pay her a salary, she can use that money for tuition, and you can write the salary off. Click below for a complete tax education & best of luck! https://lynnrichardsonradio.com/tax-education/
If you don t set aside enough money for your own retirement, your child may have to support you in the future, she explains, which could end up being more expensive than student loans.
Get started here so we can schedule time to discuss your wealthbuilding strategy: https://lynnrichardsonradio.com/financial-coaching/#//