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Money and College Admissions (with Paul Tough)

Crazy Money with Paul Ollinger

Release Date: 05/26/2020

Guy Raz on building How I Built This  show art Guy Raz on building How I Built This

Crazy Money with Paul Ollinger

Guy Raz is the host and co-creator of the smash NPR program, How I Built This and author of a new book by the same name. On the show, Guy provides entrepreneurs a platform to share their company’s origin stories and the trials and tribulations involved in getting their companies off the ground. In the new book, Guy goes deeper, reflecting on all he’s learned about what makes founders click.

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Net fulfillment v. Net worth (with Bill Perkins) show art Net fulfillment v. Net worth (with Bill Perkins)

Crazy Money with Paul Ollinger

Would you consider yourself a success if you died with $1 million? How about $10 million? Well, what if you died with $0.00?

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Affluence, Insolvency, and Alcohol (with Kirkland Hamill) show art Affluence, Insolvency, and Alcohol (with Kirkland Hamill)

Crazy Money with Paul Ollinger

Kirkland Hamill’s grandfather was very rich. His mother and father raised him and his brothers in grand fashion until Grandpa's death exposed major cracks in the family fortune. When his dad left his mom, she took Kirkland and his brothers to Bermuda where they attended a prestigious school, but never knew how they were going to pay for groceries.

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Happiness is Making a Living with Your Hands (with Ken Rusk) show art Happiness is Making a Living with Your Hands (with Ken Rusk)

Crazy Money with Paul Ollinger

Ken Rusk has made a very good living by working with his hands. A true-life, self-described “ditch-digger,” Ken is an entrepreneur who has over 200 people working on his team. In his new book, Blue Collar Cash: Love Your Work, Secure Your Future, and Find Happiness for Life, Ken advocates an alternative career path to anyone who doesn’t believe “college + white collar job” is the route for them.

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More Choice Makes Us More Miserable (with Barry Schwartz) show art More Choice Makes Us More Miserable (with Barry Schwartz)

Crazy Money with Paul Ollinger

Barry Schwartz is the author of several books, including Why We Work and The Paradox of Choice. I spoke to Barry about his findings in these two important books.

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In memory of Paul’s dad (William Ollinger) show art In memory of Paul’s dad (William Ollinger)

Crazy Money with Paul Ollinger

My dad died peacefully at his home last Friday. He left this world with a clear conscience while napping in his favorite recliner and surrounded by loved ones. He was 93 years old.

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Bill Collector turned Money Coach to Millions (with Chris Hogan) show art Bill Collector turned Money Coach to Millions (with Chris Hogan)

Crazy Money with Paul Ollinger

Chris Hogan is a retirement planning expert and popular financial media personality. A former college football player who once worked as a bill collector, Chris has seen the pain economic mismanagement can wreak on a family. Since 2005, he has worked with personal finance legend, Dave Ramsey to fulfill his goal of helping people achieve financial autonomy. Chris has helped millions not just understand retirement, investing and building wealth, but to put in place plans to achieve their goals.

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The Economics of Comedy (with Kyle Kinane) show art The Economics of Comedy (with Kyle Kinane)

Crazy Money with Paul Ollinger

One of the things artists have to learn to do is manage their money and to structure their lives so that they’re doing the kind of work they WANT to do instead of doing work they HAVE to do just to pay the bills. Kyle Kinane shares insights into his comedy career and spending habits that have kept him solvent during the quarantine. While many artists are scrambling to earn while clubs are closed, Kyle maintains his creative freedom and sense of calm, partially because he never bought a Porsche.

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Are our markets really free? (With Denise Hearn) show art Are our markets really free? (With Denise Hearn)

Crazy Money with Paul Ollinger

Are you an airline that dominates all the flights at a particular airport? Are you a global beer conglomerate that controls half the beer brands on the planet? Or, are you a gloomy corporate type that owns half the funeral parlors in America? If so, then YOU might be an oligopolist.

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The Wisdom of Frugality (with Emrys Westacott) show art The Wisdom of Frugality (with Emrys Westacott)

Crazy Money with Paul Ollinger

A fun (and sometimes funny) conversation about frugality? Heck yes, friends, because this is Crazy Money!

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More Episodes
Wealthy families have huge advantages when it comes to playing the college admissions game, and it’s not just more AP classes and $400/hour SAT/ACT tutors. That’s the conclusion of Paul Tough in his most recent book, The Years That Matter Most: How College Makes or Breaks Us, which Ira Glass describes the book as, “Gorgeously reported. Vividly written. Utterly lucid.” (such an "Ira Glass" way to say it.)
 
Tough reveals that Cash-strapped universities actively seek out prospective students whose parents can pay full tuition. Thus, despite the ongoing discussion about preferential treatment for minorities and underprivileged families, schools’ thirst for cash flow results in far more lenient criteria for the children of affluent parents.
 
In other words, it’s better to be a dumb, rich kid than a smart, poor kid, even though less well-off students at good schools have very similar outcomes than their more affluent classmates. Said one admissions counselor of the struggle to meet her school’s tuition (i.e. revenue) goals, “It’s not a matter of turning down kids we’d like to admit. It’s a matter of admitting students we’d like to turn down.” OUCH.
 
Paul Tough is a contributing writer to the New York Times Magazine; his writing has also appeared in the New Yorker, the AtlanticGQ, and Esquire, and on the op-ed page of the New York Times. He is a speaker on topics including education, parenting, equity, and student success.

Among Paul’s previous books is How Children Succeed: Grit, Curiosity, and the Hidden Power of Character, which was translated into 27 languages and spent more than a year on the New York Times hardcover and paperback best-seller lists.

For books by authors who have appeared on the show, shop the Crazy Money list on Bookshop.org. (CM gets a small commission.)
 
 
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