College Cost Projection
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Sam Parr shares a story about how difficult it is to understand compound growth rates over time.
"I remember working with my financial adviser and there was this line item for $250,000 in eighteen years. I was like, 'Griffin, what is this man?' He goes, 'Well, that's I just baked in college expenses.'
I was like, 'But I'm not gonna pay for all four years upfront, or are you thinking we're gonna have triplets? What's the deal here?'
And he was like, 'No, I just took the trailing twenty year growth rate of college education and I assume that they're gonna go to like a top 75% cost school and I just applied that number to the future and that's just what it came out to - $250,000 a year.'
I was like, it's just really hard to understand what 5% growth is per year or whatever it is."
Sam Parr
Host of MFM and fitness influencer
Sam Parr is a serial entrepreneur and business media pioneer.
In 2016, he founded The Hustle, a business news media company that started in his kitchen with just $12 and grew to eight figures in revenue.
Sam led the charge in making newsletters popular when few believed in their potential.
After four successful years, he sold The Hustle to HubSpot, a publicly traded company. Now operating as HubSpot Media, The Hustle reaches 3 million readers daily, employs a team of nearly 100, and has been the launchpad for dozens of its staff to found their own media companies and newsletters.
Sam remains the host of the popular business podcast, My First Million, and continues to start and sell companies. He also co-founded Hampton, a highly vetted community for entrepreneurs, founders, and CEOs, and teaches people to write better through his platform, Copy That.