What if instead of paying your university or trade school tuition, you paid them shares of your future self in the form of “Income Sharing“? That’s what some schools have been toying around with:
“The Lambda School teaches information technology skills online, and it charges zero tuition and offers stipends to select students. The deal is that students pay back 17 percent of their income from the first two years of work, if earnings exceed $50,000 a year, with a maximum payment of $30,000. Students who don’t find jobs at that income level don’t pay anything. Students may also opt to pay $20,000 in tuition upfront and keep their future income.
There are reportedly about 1,300 students enrolled, and the company has raised almost $50 million. The early job placement record is impressive; 86 percent of graduates have jobs within 180 days of finishing the program, at a median starting salary of $60,000. It is too early to judge results — how would these students have fared without Lambda or in a less strong job market? — but this kind of effort is an economist’s dream come true.”The barrier for most people getting into the field they want is education and the cost of education. Are you willing to bet on yourself?The entire concept is fascinating to me. It makes me think about how you value yourself. What are you really worth?
Let’s say each of us was separated into 100 shares of theoretical stock.
What would your stock be valued at certain times in your life?
Would you be willing to sell a share or two or more at certain periods to help you pay for certain things at that time, or even use that money you got in return to purchase other shares of other people you believe will have higher value down the road?
The big question is what do you really get in owning stock in a certain individual?
What if it was a portion of their earnings forever?
Each time this individual earns money and let’s say you own one share, you would get 1/100th of there earnings until they die or you sell their share to someone else, or they buy their share back. All of this helps you understand how to value yourselfI get asked almost weekly by folks who want to be consultants how much per hour should they charge? I don’t really have an answer because each of us has a different value and we all value the work we do differently. For a friend, my hourly rate might be $0, or some work I don’t really want to do that hourly rate might be $1,000 per hour.
I’m not sure what my stock value is currently, but I know it’s way higher than when I was in college believing I was going to start a career as a teacher. When I was twenty I would have sold shares of myself fairly cheaply and someone would have made out really well. What do you think your current share price is?
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