Real Life 101

08/24/2025

Some great advice about how to use your money wisely...

https://www.facebook.com/share/p/1A7ZkRSfnk/

My adult son recently approached me, excited, because he’d saved $10,000 and was going to buy a new car. I asked him what he was going to buy, and he said he was going to buy a brand new Mercedes Benz EQE 350 4Matic Sedan. I asked him how much it cost, and he told me $80K. I asked how he was going to buy an $80,000 car with only $10,000 and he told me he was going to use what he had as the down payment and finance the rest. He’d talked to the dealer, and he was already approved for the loan, and his payments were going to be $1227 a month for 72 months. I said, “holy smokes, Son! You’d be WAY better off buying a reliable used car for $10,000 and putting that $1227 a month, every month, into a well managed mutual fund, or even an index fund.” When he asked why that would be, I wrote it out for him in black and white. He looked it over, and let’s just say he’s now shopping for a used car. PLEASE make the young people in your life who are important to you aware of this lesson. Sick Twisted Humor

07/22/2024

Another important video about buying a car...

https://youtu.be/Yypf_EUdYGk?si=PywUrGMzdcA53F8O

06/06/2024

Some new short videos we've just released...

https://www.youtube.com/watch?v=XmMPspeLmew&list=PLCgxVSEOlf_808iB1bctfLqCH1oxxYl27

01/20/2024

Make good choices

01/20/2024

Make good choices....

11/13/2022

Even many athletes make money managing mistakes...but some consider every decision and what it means for their long term financial future

Larry Bird remembers when players that later went bankrupt made fun of him for saving his money:

"Even when I was at the top of my game, we didn't drive a Mercedes-Benz or live in million-dollar homes, things like that. When I first started playing, we bought a nice little house in the French Lick/West Baden area. It cost $125,000. We didn't run out and spend all our money because we knew there would be a time when it was over, and I wanted to have options on what we could do with our future. I never thought about retiring. I just assumed I would always work."

"Some of the guys who made far less than me bought the $700,000 homes, and the ROLEX watches, and the big luxury cars. I used to tell them, "You're crazy, you should be saving your money." They'd just laugh and make jokes about me stashing my money away. But I could see what they were doing. They were throwing away their future. So many of them were living for today and not even stopping for a minute to think about ten years down the road when their playing careers were over and the money stopped pouring in. And by the time they realized what I was telling them was true, it was too late.I can't tell you how many ex-teammates have asked me for money. It's heartbreaking for me to say no, but I do because I warned them. I told them to save."

51star

01/31/2022

Every school in the country should do this....

https://www.facebook.com/yukonps/posts/2333784476641605

02/21/2020

Carefully consider your education choices. You may find something you love doing that's in high demand and doesn't require mountains of debt to achieve...

Off the Wall

Mike, my son always wanted to go to MIT to get an engineering degree in aerospace. I feared the cost but never said a thing to him about it. I instead tried to get him to consider Caltech, where my connections at JPL could have given him a hand with an internship. But then he decided to attend Universal Technical Institute, to learn to be a diesel mechanic.

When I asked him why he said "I can make good money, it's a two year program, I'll get hired straight out of school. I'll save my money for five years or so, then go get my degree, and I won't have school debt when I graduate. And if I don't find the engineering job I want I can still fix diesels."

Then he added "Have you heard Mike Rowe talk about the skills gap? Someone has to fill it."

Today, my son is in Albuquerque, working for Peterbilt. He did get hired right out of school, and the school his loans will be paid off after one year of working. He was the top student in his class, by the way.

I wanted to thank you for setting my son on the path to success. Your words did it. Your work is more important than you know. Thank you again. Kender MacGowan.

Hi Kender

Your son is a genius, and so are you. A lot parents would have bristled at the idea of their brilliant child, "settling" for a two-year school, when MIT awaits. Many others would have discouraged them from learning a useful skill before going straight into a university. Good for you, and good for your son. I'm sharing your note because lots of other kids and parents are in the same position, and I want them to know we're awarding a million dollars in work ethic scholarships to people who think like your son. If you know any such people, please direct them here. mikerowe.com/scholarship.

Good luck to your son, and thanks again for the kind words.

Mike

01/12/2020

College isn't for everyone...and that's ok. Be sure you're investing in YOUR future and not just "following the crowd"...