If you knew that no matter how hard you tried, success was impossible or practically impossible, would you still push yourself to the limit? Or would you rationally pivot to another endeavor with a real chance of success? Personally, if the odds were overwhelmingly against me, I\u2019m not sure I\u2019d bother trying so hard.<\/p>\n
Since my kids were born, I\u2019ve noticed a growing trend: highly academic Asian American students with stellar GPAs and top SAT scores getting rejected from most of their top-choice colleges. This is common for many students, especially as admissions rates plummet due in part to the ease of applying through the Common App. However, the challenge seems even more pronounced for Asian applicants.<\/p>\n
Although Asian Americans make up only about 7% of the U.S. population, they aren\u2019t considered a minority group eligible for preferential treatment in college admissions, jobs, or promotions. Instead, based on average SAT and ACT scores by race, it appears they must score higher than other groups just to have an equal chance of acceptance. The Supreme Court acknowledged this disparity when it ruled against affirmative action<\/a> on June 29, 2023.<\/p>\n When diversity, equity, and inclusion (DEI) became a dominant movement after George Floyd\u2019s killing in 2020, Asian Americans were largely left out of the racial justice conversation\u2014even though they, too, have faced discrimination and hate. I get it\u2014Asians have the highest median income among all racial groups<\/a>, so why prioritize a group that\u2019s perceived as doing well?<\/p>\n But what if you\u2019re a poor Asian from a broken family? In that case, you might just be out of luck. Your only solution is to just try harder. <\/p>\n During the pandemic, I had an epiphany: What\u2019s the point of my kids studying so hard if their chances of getting into a top college\u2014and landing a promising job afterward\u2014are slim to none?<\/p>\n Instead of stressing over straight As, top SAT scores, varsity sports, club leadership, and curing cancer, why not let them fully enjoy their youth<\/strong>? All this intense stress to get into a top college doesn’t seem healthy.<\/p>\n The rise in depression and anxiety among high school students is alarming<\/em>, with many feeling relentless pressure to excel. Some even take their own lives because they don\u2019t feel good enough academically. We cannot let that happen. I refuse to let my daughter and son suffer under the weight of status and money<\/a> at the expense of their well-being.<\/p>\n Imagine waking up excited to go to school\u2014not for grades, but for the sake of learning. You\u2019d focus on subjects you care about and do just enough to pass the ones you don\u2019t like the quiet quitters<\/a> today. Since the odds of getting into a top 25 university are so low, you\u2019d be content with a B-average and a sub 1,200 SAT score. With lower expectations, you\u2019d feel grateful for whatever college you do get into.<\/p>\n What a fantastic K-12 experience! I was all in on this idea\u2014no Tiger Dad pressure, no pushing my kids to grind for a top-tier university just to buy an expensive house close to work<\/a> to become bankers working under fluorescent lights for 60 hours a week. I\u2019ve been there, and it\u2019s not fun, even if the money was good.<\/p>\n Instead, they could go to community college<\/a>, save a fortune, and pursue careers they actually enjoy. And with the $700,000+ each that would have otherwise gone to private university tuition, I\u2019d find a way to gift them financial security early.<\/p>\n Then things changed in 2025. Intense merit-based rewards came back into focus under the new administration.<\/p>\n To help explain the negative of merit-based reward, let\u2019s look at tax policy as an example. <\/p>\n When taxes are cut, people work harder because they get to keep more of their earnings. In theory, this is great\u2014especially if the government has been wasting taxpayer dollars.<\/p>\n But the problem with working harder and longer is that money is addictive<\/a><\/em>. Many people don\u2019t know when to stop, even after they have enough. Fast-forward 40 years, and the rich banker or techie might wonder why they spent so much time chasing money when they could have been doing something more fulfilling. <\/p>\n I see this addiction to wealth every day through Financial Samurai. People worth millions of dollars struggling to be happy. It\u2019s extremely hard to quit making money, even if you hate your job. That\u2019s why I started writing about FIRE<\/a> in 2009\u2014to give people the courage and financial framework to walk away from work they despise and do something they love.<\/p>\n Yes, making a lot of money and investing wisely is great. But if you keep sacrificing time for more money when you already have enough or are on track to die with plenty, it\u2019s a damn shame.<\/p>\n I left work in 2012, partly because I didn’t want to pay ~40% of my income to the government for the privilege of working 60 hours a week and feeling constantly stressed. So in a way, I’m thankful for President Obama for raising my federal marginal income tax rate to 39.6% and giving me the incentive to break free. Paying another 12.3% tax to California plus another 7.2% in FICA tax was simply not worth it anymore. <\/p>\n On the surface, rewarding people based solely on merit<\/a> sounds fair. But it could also be a trap for the most ambitious among us.<\/p>\n When people realize they can get ahead by outworking their peers, they\u2019ll do just that. A 60-hour workweek turns into 70 hours. Then 80. Then 90. The arms race for more never ends<\/strong> until we make it stop<\/strong>.<\/p>\n Just like money addiction is hard to quit, merit-based competition is, too. When you know effort directly correlates with reward, it\u2019s tough to hold back. If I was paid based on performance at my old job at Credit Suisse, I would have for sure lasted for at least another 5-10 years.<\/p>\n Today, if I knew I could outpace AI from stealing my content just by writing more, I\u2019d keep going indefinitely. But I recognize my window of opportunity<\/a> may be closing fast. That\u2019s why I\u2019ve invested in the very companies working to make me obsolete<\/a>. If they\u2019re going to take away my retirement dream, at least I plan to profit in the process!<\/p>\n Take Stanley Zhong. He had a 3.97 unweighted GPA, a 4.42 weighted GPA, and a near-perfect 1590 SAT score at Gunn High School. He even founded his own document-signing startup and tutored underserved kids in coding.<\/p>\n Yet, he was rejected by 16 colleges, including MIT, Carnegie Mellon, Stanford, UC Berkeley, UCLA, UCSD, UCSB, UC Davis, Cal Poly San Luis Obispo, Cornell University, University of Illinois, University of Michigan, Georgia Tech, Caltech, University of Washington and University of Wisconsin.<\/p>\n UC Davis has a 42% acceptance rate<\/a> for goodness sake! Did Stanley write something offensive in all his essays? That would be hard to believe given he has such a thoughtful father and helpful school counselors.<\/p>\n When I first heard the news in 2023, I was stunned. Stanley could have been my son. And if he wasn\u2019t good enough, what chance did my kids have? Less than 1% of students can achieve the academic scores Stanley achieved. For a moment, I felt defeated. Why bother trying? Top universities will simply use subjective reasons such as personality scores<\/a> to explain why a student was rejected. <\/p>\n But then something remarkable happened.<\/p>\n Instead of going to college, Stanley landed a PhD-level engineering role at Google\u2014a job most computer science grads from the very schools that rejected him would kill for. Making $200,000+ right out of high school is a dream come true.<\/p>\n Stanley proved his naysayers wrong. Although, his dad also works at Google, so maybe dad was able to help out in some way. <\/p>\n His story made me reconsider. Merit won out in the end\u2014not in college admissions, but in the job market, the ultimate end goal. Businesses, unlike universities, need the best workers to create the best products and maximize profits. <\/p>\n If the most elite employers with the largest balance sheets like Google and Meta can no longer afford to ignore merit, the same will happen across smaller companies. Merit is even more important if you are an entrepreneur. There is nowhere to hide if you\u2019re the one doing most of the work.<\/p>\n Then, in February 2025, Stanley and his father sued the University of California for racial discrimination<\/a>. Despite all the hate they received, they pressed forward for future Asian American students who might face the same bias. Personally, I don’t think they will win since Asians make up around 36% of the student population at the UC system, yet account for 19% of California high school graduates who met UC admission requirements. <\/p>\n Stanley Zhong, a school grad rejected from 16 top schools, landed a job at Google right after high school. Now he and his father are filing a lawsuit against University of California and five campuses, alleging that there is racial discrimination in its admissions process. pic.twitter.com\/DMsp2Of2qc<\/a><\/p>\n \u2014 ABC7 News (@abc7newsbayarea) February 21, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n But if they win, it could mean more qualified Asian Americans will get into public universities that receive government funding. Can you imagine paying property taxes for 18 years only for your straight-A kids to get rejected? Ultimately, a lawsuit victory should benefit the best students of all races as they wouldn’t have to be worried as much about subjective factors dying them anymore. <\/p>\n So, that crazy dream I had\u2014of Asian American kids enjoying a low-stress, joyful childhood\u2014might have to wait. For now, merit is back in focus, which means long hours of studying, intense competition in extracurriculars, and enormous pressure. If we decide to go this route, parents must always be encouraging and supportive.<\/p>\n Regardless of what happens, one truth remains: be good to your parents.<\/p>\n Colleges and employers may reject you, but your parents likely never will. They\u2019ll do whatever it takes to give you opportunities and, ultimately, ensure that you’re happy. <\/p>\n And if they\u2019ve been smart with their money\u2014investing through a mostly bull market<\/a>\u2014they might have more wealth than you realize. When the time comes for college, a car, or even a house, they might just cover everything for you.<\/a><\/p>\n As a parent myself, I constantly battle the urge to give my kids everything. But I know that if I do, I risk making them entitled and soft.<\/p>\n Still, if my son and daughter grow into responsible, kind adults who choose careers that genuinely help others, it\u2019ll be tough not to give them financial support when they need it.<\/p>\n So no matter your race, your best bet is to keep striving even if you have little-to-no chance of succeeding. Your pride is at stake. Even if you face rejection after rejection, remember\u2014rejection is just the price of success.<\/p>\n Keep pushing. Keep grinding. This is a million-dollar mindset<\/a> worth adopting. Recognize the world will never be fair. Accept it! Even when the odds are stacked against you, your hard work will eventually pay off in ways that are hard to forecast.<\/p>\n Readers, how do you feel about trying your best despite the long odds of success? Are you disappointed about the hyper focus on merit, or do you welcome the increased incentive to work hard?<\/em> Why do you think students like Stanley Zhong, with near-perfect academic records, get rejected by so many top colleges<\/em>? Does this prove the importance of writing good essays?<\/em> <\/p>\n To build more wealth than 90% of the population, order a copy of\u00a0Millionaire Milestones: Simple Steps to Seven Figures<\/a><\/strong>.<\/em>\u00a0I’ve distilled 30+ years of financial wisdom into one book to help you achieve financial freedom sooner. But success requires action\u2014don\u2019t wait! In 10 years, you will wish you had taken the appropriate financial steps today.<\/p>\n To expedite your journey to financial freedom, join over 60,000 others and subscribe to the\u00a0free Financial Samurai newsletter<\/a><\/strong>. Financial Samurai is among the largest independently-owned personal finance websites, established in 2009. Everything is written based on firsthand experience and expertise.<\/p>\n<\/p><\/div>\nStudents Could Have Enjoyed Life More<\/h2>\n
![\"Youth](\"https:\/\/i2.wp.com\/financialsamurai.com\/wp-content\/uploads\/2025\/02\/IMG_9399.jpeg\")
<\/figure>\nA Better, Happier Childhood When You Have No Chance <\/h2>\n
![\"SAT](\"https:\/\/i2.wp.com\/financialsamurai.com\/wp-content\/uploads\/2025\/02\/SAT-scores-by-race.jpeg\")
<\/figure>\nThe Analogy Of Lower Taxes Hurting Your Lifestyle<\/h2>\n
![\"Screen](\"https:\/\/i2.wp.com\/financialsamurai.com\/wp-content\/uploads\/2025\/02\/IMG_9402.png\")
Merit-Based Reward Can Also Hurt Your Lifestyle <\/h2>\n
![\"MCAT](\"https:\/\/i2.wp.com\/financialsamurai.com\/wp-content\/uploads\/2025\/02\/mcat-scores-by-race.jpeg\")
<\/figure>\nRejected Asian American Goes Straight To A Dream Job<\/h2>\n
Building Skills Becomes En Vogue Again<\/h2>\n
\n
Treat Your Parents Well <\/h2>\n
When Your Best Is Not Good Enough: Keep On Going<\/h2>\n
Subscribe To Financial Samurai\u00a0<\/h2>\n
![\"Millionaire](\"https:\/\/i2.wp.com\/financialsamurai.com\/wp-content\/uploads\/2025\/01\/mm-top-new-release.png\")
<\/a>