On average an MBA will cost $150k.
Is it worth it to get an MBA these days?
In my experience and what I have observed from a lot of my friends, it is not.
A lot of people think about getting an MBA because it might enhance their career choices.
However, in the past year, I have met many individuals with MBAs looking for jobs for over a year due to two reasons.
One, their MBA make them overqualified and therefore the company doesn’t want to hire them. Or two, their MBA is not coming from a school that the employer could consider a top school.
The only reason you want to get an MBA is if you are planning to take a leadership role like a business owner or management.
In these days and age, startup companies rather look for individuals that can think outside the box and innovate, not people with MBAs because the owner of the startup already has an MBA.
Aside from the massive costs, to get into a reputable MBA school, you need to have a high GMAT...
Do you know anyone that is house rich and cash poor?
Most people are just paying their mortgage and that’s it. They are not contributing to their retirement plan, they have no savings, no emergency fund. They cannot go on vacation unless they get into debt.
Why? Because they bought a home that is too expensive for their personal situation. In other words, they bought a house that the couldn’t afford.
Here are some of the reasons people are trying to pay off their mortgage.
You should not be paying off your mortgage as fast as possible, making extra payments, or getting in shorter terms, or be participating in a bi-weekly plan.
Why? Because the goal in life should be to create wealth.
Why carry the long-term mortgage? The only answer is liquidity and wealth.
Paying off that debt will not necessarily give you wealth. At this moment, your home is increasing in value on its own.
This is why the longer the term, the lower the payment...
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