Why Your Degree Is Not a Guarantee of Success

[Music] brought to you by the Every Dollar app start budgeting for free today my question for you is should I sell my rental property to pay off my student loan debt wow how much student loan debt you got a lot $338,000 that is a lot are you a doctor or a lawyer lawyer okay and what's your income um so excluding like the rental property it's 95 around 95 to 100,000 how long you been out of law school my bonuses since 2019 okay when are you going to start making some more money with your law degree i know um yeah that's is I guess that's a problem um you spent a lot of money on a law degree because you could make a lot of money and now you're not making a lot of money right diesel mechanics make more than you so what are you going to do to get your career going kiddo um change jobs let's start there I guess okay all right and what's the rental property worth um the rental property is funny it's worth the same amount as my debt 338,000 that's the current and is it paid for value no i wish okay so it won't pay off the student loan debt how much do you owe on it 176,000 okay so you get 100 grand 150 grand out of it right correct yeah that'll definitely help instead of you being in debt for 10 years we can speed this process up by selling this rental property you got any savings anything else you could sell um so I currently have a storage unit with some stuff in it that I've been trying to like sell all of that stuff out so I can And you're paying for the storage unit so let's free up money every nook and cranny in your budget and uh we're going to get you on a budget cuz that's going to be the real path out of here regardless of what happens getting your income up getting your expenses down but I'd love to see you debtree in under two years you think you could do that if you got intense oh for sure especially if I sold the property i've been torn between selling it and moving into it and so I just Where are you living in um currently I live with my parents but um I was about to start running good that's fine start running that's fine yeah I believe I would um now let me I I was one of the first in my family to get a formal education are you i am well yeah okay i am um I Let me ask you if this is true and you It's okay if it's not you You please tell me the truth okay i'm I'm not I'm not forcing this on you because there's a lot of symptoms in this conversation that make me think this and I'm not sure if I'm right okay so you can you can correct me but did you kind of have the idea like I did that we were sold if you go get a law degree they're just going to start sending you big checks it's going to be like easy yep i as a So I probably said I wanted to be a lawyer as a kid yeah you worked your tail off and were really really focused till you passed the bar and you thought at that point this was going to get easy yes and it definitely did not and it was the opposite and you fell backward into a halfb butt lawyer job yes instead of a really really good one making 200 correct correct what kind of law are you doing is it the specific niche that you're in that's not making Yes i I would say it's the specific niche it's real estate law yeah so here here's what I'm pointing to and I live through this and I know a whole bunch of other people that have lived through the same thing now that you have discovered that the education is not the cause of your success instead you are going to be the cause of your success that should give you some new energy to go kill some things and drag them home so go get an apartment sell this condo clean out this storage shed get your butt in gear and go make you some money because the Calvary is not coming it's not going to get easy you're the secret sauce to the success not the degree the degree as you have discovered and I have discovered is not magical right does you see what I'm following you see what I'm doing yes so the the same incredible determination and sacrifice emotionally and psychologically that you used to get go get this degree because it was supposed to be Willy Wonka's golden ticket i want you to use that same determination that's inside of you to go now be somebody okay you follow me because this is all this all looks like you peaked out at graduation and have been sliding ever since you're living at home you got a storage unit you got this rental unit you're you're in a substandard you're not making the money you ought to be making as smart as you are and um I want you to go get rid of every bit of that i want you to go get some money you have earned the right to go get it you are a star go act like it go get some get this stuff knocked out cleanest stinking mess up get you a grownup life like I have my own apartment i live in my mom's living room i'm a freaking lawyer for God's sakes you know go stand up girl and get this storage unit cleaned out get this thing sold and then start looking for a better opportunity and walk in with a little bit of like a lot of superstar confidence when you walk into the interview for the next place because you are that person okay that's that's what's going on so you get our income to 200K we get this mess cleaned up this this this stuff's gone in a heartbeat but we tell everybody this and then if you're if you come from a uh a demographic we'll just call it if you come from a background where uh the the people around you were not people of four-year degrees they tend to think sometimes in that culture that that in the culture that she and I are talking about uh that if you get the degree it's Willy Wonka's golden ticket and people that have that are like third generation have had college degree college degree college degree they know it's not they know it's not the cause of success that it's just some tools in your belt that you still got to get up leave the cave kill something and drag it home you still got to go be somebody you still got to double up your fist and bust some noses you still got to push out there and make it happen your degree is is not a guarantee of success it's quite the opposite it'll actually hold you back if you stop and and but our if you come out of that and the people around you didn't know that then you believe that and it shut it messes with you so that's part of where the student loan crisis has come from yeah everyone should go watch borrowed future on our YouTube channel it's our documentary on the student loan crisis and it explains all of this beautifully fall falls right in line with every bit of that wow you're cool i like you a lot you're going to do good create your free every dollar budget today the simplest way to budget for your