Student Loan Planner

Robert Berger, Deputy Editor at Forbes and author of Retire Before Mom and Dad, is passionate about helping others build financial independence. In this episode, I talk with Robert about how to plan for retirement and the seven levels you need to reach financial freedom. In today's episode, you'll find out: What "retirement" can look like for you The seven levels of financial independence Is the 4% rule still relevant? How student loan borrowers can reach financial independence What is the "money audit" and how it can help cut your spending Why cars are a financial freedom killer What retirement account is the best first step to investing Why expense ratios are a huge factor in investing How to experiment with your finances to increase your savings Full show notes at: http://studentloanplanner.com/47

There are many reasons you should start a business. Business owners tend to make more money than associates. A business owner could pay less taxes than an associate, too. Overhead is often 45% to 60% depending on the practice, which means profit would be 40% to 55% instead of 28% to 33% as an associate. I spell out all the benefits of owning a business. In today's episode, you'll find out: Why you should start a business now even if you have student loans What makes the risk of being an entrepreneur lower than you think Why a dentist probably shouldn't open a restaurant business Legal write-offs to save 50% or more in taxes Why adding your spouse to your payroll can help the business How self-funded pension plans can fuel your retirement The advantage of a fiduciary financial planner for your business Why private practice is a better choice than PSLF How your business can help your REPAYE subsidy For more information, visit the show notes at https://www.studentloanplanner.com/why-start-business/

Reese Harper, a Certified Financial Planner and founder of Dentist Advisor, specializes in financial planning for dentists. In this episode, learn his thoughts on the financial planning industry, how to be successful running a dental business and whether now is the best time in history to be a dentist. In today's episode, you'll find out: How Reese got started with his firm His thoughts on the financial planning industry Conflicts of interest in financial planning The typical wealth and income Reese sees with his dentist clients How DSOs (Dental Support Organizations) are affecting dentistry What to focus on early in your dental career Why there's a place for different business models in dentistry Why dentists have to think about the business side of things Why trust is everything in a producer-consumer relationship Reese's thoughts on a fair price for a financial planner How income and net worth impact the cost of a financial adviser Is now the best time in history to be a dentist? Full show notes at: http://studentloanplanner.com/45

Why do so many financial advisers give lousy student loan advice? In this episode, the Student Loan Planner consultants — Travis Hornsby, Justin Harvey, Rob Bertman and Lauryn Williams — discuss what to look for in a financial adviser, what leads to this bad advice and why an experienced financial adviser is key. In today's episode, you'll find out: What to look for in a good financial adviser Why financial advisers need to disclose all conflicts of interest Why Student Loan Planner isn't a fiduciary investment adviser How Student Loan Planner can provide the best cash-back bonuses Why most financial advisers aren't expert on niche topics What could lead a financial adviser to give poor advice Why paying a hefty fee for an adviser isn't always a bad thing How good information lets you make sound financial decisions Why you need to interview potential financial advisers How not having enough experience leads to bad advice Why student loan strategies are foreign for many advisers Why finding an experienced financial adviser is key Full show notes at: http://studentloanplanner.com/44

Trent and Somer are the first couple in history to both get tax-free student loan forgiveness through the Temporary Expanded Public Service Loan Forgiveness (TEPSLF) program. Learn about how they qualified, their journey to forgiveness and their advice for those looking to do the same. In today's episode, you'll find out: How much student loan debt Somer and Trent graduated with How they managed to get Direct Loans What it was like for Trent to consolidate his loans in the late-2000s. How Trent ended up with five years not counting toward TEPSLF How Somer was signed up for the wrong repayment plan When their loans went to FedLoan Servicing How changing your name can cause student loan problems Why Trent's TEPSLF was a little harder to process Trent's reaction to finding out his student loans were forgiven Somer's emotions when she saw her loans had also been forgiven Somer's thoughts on why loan forgiveness isn't just free money The steps to qualify for TEPSLF Trent and Somer's advice for those going for TEPSLF Full show notes at: http://studentloanplanner.com/43

Using the refinancing ladder strategy can help student loan borrowers get out of debt much faster. In this episode, learn how the refinancing ladder works for refinancing student loans — and how to decide if refinancing is right for you. In today's episode, you'll find out: • What is the refinancing ladder strategy? • When is refinancing a good decision? • Why you shouldn't refinance federal loans too soon • What, exactly, is student loan refinancing? • How student loan refinancing differs from other refinancing • How Student Loan Planner's cash-back bonuses work • The differences between short-term and long-term refinancing • How to calculate your payment with various loan terms • How many times do people generally refinance? • How to use the refinancing ladder strategy • Should you go with a variable or fixed rate? • How historic refinancing rates compare to the rates of today • How variable rates are calculated • Why don't more people refinance their student loans? • Why putting off your financial health is unwise • How lenders profit from borrowers who don't know to refinance • Who should and shouldn't refinance their student loans • Benefits of using the refinancing ladder with cash-back bonuses Full show notes at: http://studentloanplanner.com/42

Do you wonder why our student loan plan consult form has you give so much information? Hear the Student Loan Planner consultants — Travis Hornsby, Justin Harvey, Rob Bertman and Lauryn Williams — break down all 26 questions and explain how your plan is unique. In today's episode, you'll find out: How the consultants react to learning someone's occupation Why the consultants want to know what metro area you're How community property states affect student loans How your choice of school might influence your loans The consultants' thinking on different loan balances Why knowing the different kinds of loans you have is crucial How your income affects possibly refinancing Why your payoff plan involves your projected income How interest works with student loans What your retirement savings lets the consultants know How savings illustrates your financial mindset Why the date you took out your loans matters How the consultants make a plan based on your information What your spending level indicates How both empathy and being realistic plays into your plan Why savings versus debt matters How family size factors in How Parent PLUS Loans and PSLF factor into the consult Why filling out the entire consult form is critical Full show notes at: http://studentloanplanner.com/41

Most people are committing financial sins of omission — not doing things because they're too complicated. In this episode, see how anything from bad website designs to having too many options can cause financial inertia — and how setting up automatic plans can help. In today's episode, you'll find out: How is Vanguard's website design costing people money Why people use robo-advisers instead of companies like Vanguard Why developing the habit of investing is important How a "nudge" works in finances How student loans could be more simple to deal with What financial sins of omission might you be committing right now How the economy shifting pushed people to start investing Why automatic financial plans are so important How to avoid having complexity cost you money How schools convince people to borrow so much money Examples of people unable to handle so many financial options Is taking time off from Public Service Loan Forgiveness OK? How alternative documentation of income works Why it's important to not let student loans dictate your life Refinancing rates are lower than they've been in a long time Why you should book a student loan consultation now Why you should apply for the Student Loan Planner scholarship Full show notes at: http://studentloanplanner.com/40

In today's exciting episode, hear questions directly from the Student Loan Planner audience, covering topics ranging from financing a car to preparing for a massive student loan bill, with each question answered by Travis. In today's episode, you'll find out: Is financing a car ever a good idea? How to best prepare for the tax bomb on an income-driven plan How student loans can affect buying a home Should you pay down student loans before buying a house? Should you wait until after your grace period to refinance? Is it better to go for a physician or traditional mortgage? How to prepare for a large student loan bill after graduation Is refinancing a mortgage worth it, despite closing costs? Why it's often good for dentists to buy their own practice Why getting a custom plan from us could be life-changing Full show notes at: http://studentloanplanner.com/39

Jake wants to attend dental school while Carissa has enrolled in an occupational therapy program. See how they plan to finance their educations and why going for student loan forgiveness is a better option than Carissa's parents paying for grad school. In today's episode, you'll find out: How Jake and Carissa decided on their specific programs How their choice of schools affects their future student debt Their plan for future work post-graduation Carissa's plan for financing her degree Why parents helping pay for grad school can be a bad idea Why PSLF is a good gamble Possible scenarios if Carissa chose to work in the private sector Why trading PSLF away isn't a good deal Why Travis recommends Jake and Carissa borrow the max amount The possible future of tax bombs — and why it's political The low downside risk of PSLF and tax bombs Should you pay interest or investigate forgiveness while in school? Why don't we hear more about student loan forgiveness? When refinancing can also be a valuable option Full show notes at: http://studentloanplanner.com/38