Latest / Triple Da Money / Your Guide To Success: Trade, Business, or College — Get Rich Quick

Transcript

Your Guide To Success: Trade, Business, or College — Get Rich Quick · Triple Da Money

• 0:00
  SPEAKER_01: Guys, guys, guys, I have one year to figure out what I want to do with my life, and I have no idea what I'm gonna do.
• 0:06
  SPEAKER_01: Bro, chill.
• 0:07
  SPEAKER_01: It's Tuesday.
• 0:08
  SPEAKER_01: I could go to college, I could go to trade school, I could go to community college, and I could start my own business.
• 0:15
  SPEAKER_01: Okay, wait, well what do businesses even do?
• 0:17
  SPEAKER_01: Sh uh, do I need a logo first?
• 0:20
  SPEAKER_00: Brin.
• 0:21
  SPEAKER_00: Breathe.
• 0:22
  SPEAKER_01: I am breathing and I'm freaking out and breathing.
• 0:25
  SPEAKER_00: Okay, here's what we're gonna do.
• 0:26
  SPEAKER_00: Instead of panicking about the four paths, we're just each gonna take one and go through it.
• 0:31
  SPEAKER_01: I'll take trades.
• 0:32
  SPEAKER_00: I'll take college.
• 0:33
  SPEAKER_01: Hmm.
• 0:34
  SPEAKER_01: I'll take business.
• 0:36
  SPEAKER_01: Clearly, I need the most help here.
• 0:38
  SPEAKER_00: Hold up, real talk.
• 0:40
  SPEAKER_00: We're 17 too and we're going through all of these decisions with you.
• 0:43
  SPEAKER_00: And if you're like Brandon and you don't know what path to choose, stick around with us because we'll help you make that decision.
• 0:49
  SPEAKER_01: One year.
• 0:50
  SPEAKER_01: Just one year.
• 0:51
  SPEAKER_02: Dude, you've had 17 years.
• 0:54
  SPEAKER_00: Let's actually break this down.
• 0:55
  SPEAKER_00: Pros, cons, real numbers, not just vibes.
• 0:59
  SPEAKER_00: So for college, your degree is gonna be about four years.
• 1:02
  SPEAKER_00: Eight years if you want to be a doctor or lawyer, and there's no shortcuts there.
• 1:06
  SPEAKER_00: You're gonna have to do it all.
• 1:07
  SPEAKER_01: Eight years?
• 1:08
  SPEAKER_01: I just did 12.
• 1:09
  SPEAKER_00: The money you'll spend on a four-year college like ASU runs about$35,000 a year.
• 1:15
  SPEAKER_00: Or you could do community college for about$2,300 a year.
• 1:19
  SPEAKER_00: And most community colleges have a pipeline, so you could do two years there and then go to a state school and finish your last two years there, and it's much cheaper than a regular four-year degree.
• 1:28
  SPEAKER_02: So you're negative the whole time?
• 1:31
  SPEAKER_00: Negative the entire time you're at school.
• 1:33
  SPEAKER_00: That's the con.
• 1:34
  SPEAKER_00: Here's the pro though.
• 1:35
  SPEAKER_00: There's flexibility.
• 1:36
  SPEAKER_00: If you don't know what you want to do for your major, colleges plan around that.
• 1:39
  SPEAKER_00: Your first two years are general classes, so you can try out different things until you want to come in.
• 1:44
  SPEAKER_00: Try doing that in a trade school or when opening a business.
• 1:48
  SPEAKER_02: There.
• 1:48
  SPEAKER_00: And it's way easier to pivot later and switch industries with a degree.
• 1:52
  SPEAKER_00: With a trade, you're stuck in one place.
• 1:55
  SPEAKER_02: My turn.
• 1:56
  SPEAKER_02: It's gonna take about 18 months, and you're an apprentice for most of it.
• 2:00
  SPEAKER_02: Meaning you're getting paid to learn.
• 2:02
  SPEAKER_02: Positive money day one.
• 2:04
  SPEAKER_01: So opposite of Emily.
• 2:06
  SPEAKER_02: Exactly.
• 2:07
  SPEAKER_02: Electricians, plumbers, HVACs, welders, you pick one.
• 2:10
  SPEAKER_02: Real numbers.
• 2:11
  SPEAKER_02: Electricians make$62,000 a year.
• 2:14
  SPEAKER_02: The top 10% make over 106.
• 2:17
  SPEAKER_02: Plumbers are actually out-earning electricians for the first time ever.
• 2:21
  SPEAKER_02: Give them a fun one.
• 2:22
  SPEAKER_02: Elevator texts average over$109,000.
• 2:26
  SPEAKER_01: Elevators, bro pushes a button.
• 2:29
  SPEAKER_02: Nobody wants to learn it, and that's why it pays.
• 2:32
  SPEAKER_02: Here's a con though.
• 2:33
  SPEAKER_02: You have to pick one trade early.
• 2:35
  SPEAKER_02: If you're undecided with one trade, you're stuck.
• 2:38
  SPEAKER_02: Just like Emily said.
• 2:39
  SPEAKER_02: Once you're skilled, you get a choose.
• 2:41
  SPEAKER_02: You get to stay employed or you can open your shop.
• 2:43
  SPEAKER_02: You choose.
• 2:44
  SPEAKER_00: So there's overlap.
• 2:45
  SPEAKER_00: Trades can lead to businesses too.
• 2:47
  SPEAKER_02: Exactly.
• 2:48
  SPEAKER_02: It's not really one lane forever.
• 2:51
  SPEAKER_01: Okay, business.
• 2:52
  SPEAKER_01: This is the one where I can make over a billion dollars.
• 2:57
  SPEAKER_01: What I'm thinking is a Roblox training academy where I teach kids to get good at Roblox for money.
• 3:04
  SPEAKER_01: That's not a business.
• 3:06
  SPEAKER_00: Here's the real numbers on business.
• 3:08
  SPEAKER_00: It's the biggest swing of all three paths.
• 3:10
  SPEAKER_00: The ceiling is basically unlimited.
• 3:13
  SPEAKER_00: It could be worth billions.
• 3:15
  SPEAKER_00: But the floor, a lot of small business owners land around$60,000 a year.
• 3:20
  SPEAKER_00: Same as many trade jobs, just with way more risk to get there.
• 3:24
  SPEAKER_02: And the failure part?
• 3:25
  SPEAKER_00: 50% of businesses fail within the first five years.
• 3:28
  SPEAKER_00: So you're not just risking money, you're risking years.
• 3:32
  SPEAKER_00: And nobody's making you learn anything.
• 3:34
  SPEAKER_00: You have to just self-educate the entire way.
• 3:37
  SPEAKER_00: There is no professor signing off that homework.
• 3:39
  SPEAKER_01: Okay, but what if instead I did a drop shipping company?
• 3:42
  SPEAKER_01: You said Roblox 10 seconds ago.
• 3:44
  SPEAKER_01: Ideas evolve, Austin.
• 3:46
  SPEAKER_00: This, by the way, is the actual trap.
• 3:48
  SPEAKER_00: If you can't commit to one idea, you'll never open anything.
• 3:52
  SPEAKER_00: It's the same problem as being undecided in a trade.
• 3:55
  SPEAKER_01: Fidget spinner company?
• 3:56
  SPEAKER_01: Brandon!
• 3:57
  SPEAKER_00: Okay, let's put it on the board money-wise.
• 4:00
  SPEAKER_00: College, you're negative the entire four years.
• 4:04
  SPEAKER_00: Eight, if you're in medicine or law school.
• 4:06
  SPEAKER_02: Trades, positive day one.
• 4:08
  SPEAKER_02: You're an apprentice and you get paid to learn.
• 4:11
  SPEAKER_02: And business?
• 4:12
  SPEAKER_00: Also negative.
• 4:14
  SPEAKER_00: The deepest negative of all three, because you're funding it all yourself.
• 4:18
  SPEAKER_01: So business is the worst option?
• 4:21
  SPEAKER_00: Short term?
• 4:22
  SPEAKER_00: Yes.
• 4:23
  SPEAKER_00: Long term, it's the widest range of any path.
• 4:27
  SPEAKER_00: You could land at$60,000 running a small shop, or you could land at$10 billion if it really takes off.
• 4:34
  SPEAKER_00: College and trades, they don't swing that wide in either direction.
• 4:37
  SPEAKER_02: Like I said, trades can eventually feed into businesses too.
• 4:41
  SPEAKER_00: So, what do you actually decide?
• 4:43
  SPEAKER_00: Ask the boring questions before the exciting ones.
• 4:46
  SPEAKER_00: How much time do you have?
• 4:47
  SPEAKER_00: How much can you spend before you start making?
• 4:51
  SPEAKER_00: How hard is the path, really?
• 4:52
  SPEAKER_02: And the big one, are you gonna hate the job at the end of it?
• 4:56
  SPEAKER_01: And are you gonna get FOMO when you see everyone else walking into a dorm?
• 5:01
  SPEAKER_00: All fair questions, but here's the one nobody asks.
• 5:04
  SPEAKER_00: Are you decisive enough for this path?
• 5:06
  SPEAKER_00: College gives people two years to figure it out.
• 5:09
  SPEAKER_00: But business or trades, if you're undecided, you never actually start.
• 5:14
  SPEAKER_01: Yeah.
• 5:14
  SPEAKER_01: You never actually start.
• 5:16
  SPEAKER_01: Which is why I've landed on my final idea.
• 5:20
  SPEAKER_01: A company that sells fidget spinners.
• 5:22
  SPEAKER_00: The truth is, there is no right path.
• 5:25
  SPEAKER_00: Just the one that fits your time, your money, and how willing you are to go in the negatives before you go in the positive.
• 5:31
  SPEAKER_00: Figure that out, and you're already ahead of most adults.
• 5:34
  SPEAKER_01: We're triple the money, and we're going through the exact same thing as you are.
• 5:38
  SPEAKER_01: Let us know which path you choose.