Rich and Marcus kick off the episode discussing the importance of mental health and breaking out of patterns that you continuously find yourself in, even if that requires breaking the pattern of not seeking professional help first. Then they leap into the topic of the day where they discuss the decision by Billionaire and Cornell Alum, Robert F. Smith to pay off the student loan debt of the 2019 graduating class of The Historically Black University, Morehouse College. There’s some buzz on the internet surrounding this decision. Some people are in support of Smith’s decision, while others think it’s unfair to those who had to pay off their own debt. Mind you these debt payments will be made in the form of philanthropy by a private donation and aren’t involved with any kind of government assistance. Marcus and Rich give their take on the situation, which brings up the broader issue of receiving vs. earning and the trouble many face when others are dealt a ‘winning hand’ and they feel like they lost out.
- Robert F Smith’s donation vs. Senator Elizabeth Warren’s Government Aid Plan
- The impact of having a scarcity mindset has on our view of ourselves and others benefits
- Earned rewards vs. Gifts
- Someone else doesn’t have to lose for you to win. It’s not a zero-sum game
- Feeling like you have to apologize for your success
- The cost of college and deciding if the benefits of a degree are worth the debt
Key Takeaway: Robert F. Smith and Elizabeth Warren both have good intentions, but the real issue that should be discussed is how the US can make college more affordable so that young students don’t find themselves in a pile of debt.
Mentioned on This Week’s Show
- PsychologyToday.com – Find a therapist
- Six Resources for Mental Health Therapist for POC
- Robert Smith pledged to pay off Morehouse graduates’ student loans. Is this a penalty for families who saved?
- Guest Gaby Dunn
- Paychecks and Balances – Bad With Money ft. Gaby Dunn
- Bad With Money ft. Paychecks and Balances
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