Your Questions About Financial Freedom University

Sandy asks…

Success University – path to Financial Freedom?

Are there anyone out there who have joined Success University? Have you truly found your financial freedom? Is it as homebased as it claims to be? Does it really free up your time? Can you really make $$ from this home-based business? What are your experiences with it?

John answers:

My experience was that it spawns tons and tons of spam in my inbox.

Joseph asks…

Can I use the Freedom of Information Act to see the financial statements of my universities bookstore?

I am interested in the amount of revenue that is generated through the bookstore.

John answers:

Not if it is a private concession. If it is part of the university then you should be able to, although the FOIA is only for federal documents, not state ones.

Susan asks…

can someone help with Financial question?

You intend to leave your three children no less than two million dollars each by the time you retire at 70. A paragon of virtue that you are, in that you uphold the importance of industriousness, discipline, education, personal freedom restrained by responsibility to loved ones and to others, you and your wife will do everything you could including sending your children to the most exclusive universities in the land, to make them successful financially and otherwise. In your view, leaving them two million when you retire is just a blissful gesture of parenthood, and the responsibility that collective parenthood calls for in our society.

To achieve your goal, you have to start investing on the dates of your children’s birth days which happen to be on your 30th birth day for your first child, on your 32nd birth day for your second child and 34th birth day for your third child. You and your wife share the same birth day.

You might consider using the commonly used Consumer Price Index (CPI) to measure the magnitude of the invisible economic force that nibbles at your well-intentioned well-being of your children, that is, you should protect your children against the illusion of having a Victorian Mansion in the most coveted spot in the land, while indeed, they may not be able to afford an umbrella-sized roof over their head, just to mention one of the necessities of life, say, in NYC……….

The state of the economy suggests that CPI in 2000, when you start investing, is almost 100. It is predicted to be 327 in 2040. That implies a reduction in buying power i.e. the change in cost of living of almost 3%. The nominal interest rate is expected to be 10% (on average) over the period you are considering.

You are required to come up with a sound financial planning to achieve your goal. Determine how much, where, when and how to invest to achieve your goals?

John answers:

Are you looking for monthly payments?

Linda asks…

Would a state school allow more freedom?

I seem to have gotten myself into quite the conundrum. I’m an 18 year old in my second semester at an elite private university, and I’m struggling to justify staying here. I love many things about this school, like the small classes, totally approachable professors, the sense of community, not to mention the gothic wonderland campus. However, I feel terribly guilty staying. When I applied for college in 2008 (before the economy tanked) my parents told me to ‘go for the gold’ when it came to my university choices, and to not consider financial aid while picking. I spent most of the second semester of my senior year applying for scholarships, and received several thousand dollars. After one year here, I know that my parent’s income and savings are greatly reduced, but due to the way FAFSA works, it won’t really look that way to my school. Even though my school boasts about its financial aid program, my offer was terrible and was only made up of unsubsidized loans, which I declined. Even though my parents continue to support my decision, I feel very responsible for my spending, and am considering switching back to an in-state school (which is also highly recognized, but HUGE) so that neither my parent’s nor I will have to go deeply into debt.

To complicate this story, my boyfriend (who is still in my home state) and I have dated exclusively for two and a half years, and have been considering marriage in the not-so-distant future. I know if I transferred back to my state school we would at least be able to entertain the possibility of getting married and supporting each other while in school. I know the stats are against me on this one, but both of us are sure of our commitment. Also, both of our parents married while in college and developed successful careers and families.

Right now I am planning for two totally different scenarios,waiting find out if I got admitted to one school, while registering for housing and classes here. I would appreciate any advice you have on my situation, as my parents and my boyfriend are doing their best to not influence me one way or the other. Would going to a state school make me feel like I passed up on a great opportunity, or would it allow me greater freedom? Any insight would be appreciated.

John answers:

There are some very good state schools. In IL , the University of IL is excellent. You can still get a good education without draining your self and family financially. Going to a huge school is going to be very different. Can you get into the honors college there? Living in an honors dorm and taking some honor classes has made a big difference with my daughter at school.

ARGH. Don’t get married till you graduate. Your parents did this 18+ years ago. Things are different now. The economy is horrid.

Lisa asks…

I am trying to appeal the decision of dismissal from my university. Help, please?

Dear…,

I am very devastated by the news of my dismissal from the my college and the university. I cannot blame anyone but myself. I have let many down but especially myself. My lack of focus and better judgment (should I even add this?) and (a word that means owning up to or taking care of??) my responsibilities has led to my poor and despicable (<–need a better word that compliments ‘poor’) performance.
During my first semester, I admit I took my new found “freedom” from home a bit loosely. Too loosely. I come from a very sheltered Haitian culture. Although I was raised in such a strict manner, it is hard to dissuade one’s self from doing whatever you please. Especially when you realize that there is really no one around to tell you not to. And my family here in Florida was nowhere near as strict as my parents. But they still expected more out of me than I had put forth. I had slacked and managed my time poorly causing my grades to suffer. Then around the middle of the middle of the semester, towards the end, I became ill. Due to issues with my mother’s insurance, I could not seek proper medical attention. And so after seeing the school’s medical staff, I was still ill for an additional 3-4 weeks. This added to the academic carnage. I was better right before the time for finals, but for the amount of class time I had missed, I simply had no faith of making it out successfully. In hindsight, that is definitely a bad attitude to have, despite the (need a word here) circumstances.
During my second semester, the devastating earthquakes in Haiti hit close to home. We were in and out of contact with our family for months and learned that a couple family members had been severely injured. Upon returning to the university, I endured several issues with Financial Aid with regards to lenders and cosigners. This prevented me from starting the semester when most of the student population did. I was told and am aware now that instead of missing class time to handle the issues, I should have worked them around my academic schedule. Once I was able to come back to campus and be officially registered, I thought things would be fine and that I could handle it all. I started out with a full course load (20 credit hours) which I quickly learned was too much for me to bear. And so, I reduced the amount of credits I was enrolled in to 12.

During the middle of the semester, I received word that an uncle had unexpectedly passed away. Although my uncle and I weren’t particularly “close”, it was still quite a blow for the family. My aunt, with whom I have a strong relationship with, could not be in attendance of her husband’s funeral because she was in Haiti and the conditions at the time prevented her from coming. My father, whom I am also very close with, had lost his best friend since childhood. I am indeed a “daddy’s girl” and I felt extremely bad that I could not be there for him.

During spring semester, I also had a (word for ‘not very nice’ that compliments the word coming up) argument with my mother. We do not have the greatest relationship. So when arguments arise, I usually am put in a very negative mood and it put a heavy toll on my depression. That, along with other factors, caused me to become very unfocused in my schoolwork. I should have communicated more with my therapist/counselor. Looking back, that would have helped me immensely. I began to “pick up the slack” but only managed to obtain two passing grades out of four.
I deeply regret my decisions and how I went about dealing with the situations I was in. Some of what happened, I understand I had no power over. But some I did. I definitely did. I could have changed my irresponsible habits for the better during my first semester. I could have certainly better managed my time and even take up the time management that help that was offered on campus. I unquestionably should have sat it on all of my courses despite registration issues. And I most certainly should not have thought twice about speaking with my counselor especially during some of my roughest times.
I am always quick to find an answer or give a response; always quick to act. Yet, I don’t sit down and take a while to think things through. I don’t know what led me to believe that once I hit college, this habit would die off. But thankfully I have realized it. And am beginning to think many of my decisions in life thoroughly. And doing so as I have done now might have saved me some trouble.
But I cannot change the past. I can only move on using what I know now (my mistakes) as a guide. After receiving the letter and spending the time since to dwell on it, I now feel as though I am ready to do what I have to do to be who I want to be. As Og Mandino once said, “failure will never overtake me if my determination to succeed is strong enough”. And I am most definitely determined to perform infinitely much better than I did before, if I am permitted to return.
I hope and beseech you to recons
(rest of essay)
reconsider my dismissal. I am ready to live up to, and even surpass expectations of, the small town girl you admitted and gave a home.

Sincerely (is there a better word that I could use here?,
N.A.

I do not mind grammar policing at all! And should I mention that I am taking a semester worth of courses over the summer?

Also here is the school’s website with info on appeals… : http://www6.miami.edu/umbulletin/info/aca/grades.htm#sta

Thanks so much!

John answers:

Don’t know if you’ve already sent this in or not, but here’s my take:

I think as it reads now it’s just a sob story — yes, there are many circumstances which lead to this but everyone has problems.

Rather, I’d keep the circimstances to a paragraph or two: You had too much freedom and stress from family issues, long-term illness, and the earthquake. The reason to keep this part short is so you can stress this one and only key point: THIS WAS A ONE-TIME ISSUE, YOU’RE REALLY A BETTER STUDENT

The bulk of the letter would be you trying to prove what will change. Talk about what, specifically, you plan to do to change your ways (counseling? Changing roommates/friends so you’re not going to go out partying? Attend office hours of your profs? Using the writing center/ any other help the school can offer? Etc)

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3 Responses to Your Questions About Financial Freedom University

  1. Pingback: Your Questions About Financial Freedom University « homeloandebt

  2. I have been reading out a few of your stories and i must say pretty good stuff. I will definitely bookmark your site.

  3. Well I sincerely liked studying it. This subject offered by you is very practical for proper planning.

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