119: How to Pay for College with Robert Farrington

White Coat Investor Podcast

Dr. Jim Dahle of the White Coat Investor

Medicine, Health & Fitness, Business, Investing

4.9 • 2.3K Ratings

🗓️ 15 August 2019

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode we interview Robert Farrington, the founder of thecollegeinvestor.com, https://thecollegeinvestor.com/ where he provides lots of information for young investors, for indebted people with student loans, and millennials in particular. Robert, Mr. Money Mustache, and myself started our blogs about the same time, though both of theirs are bigger than mine. His message is about getting out of student loan debt and starting to invest. Whether it's millennials or not, his goal is to help people navigate the complex world of student loan debt, so that they can build wealth as early as possible. We discuss the order of operations for paying for college. There are nine basic ways to pay for college. You should max out each of them before moving on to the next step. We discuss each of those steps as well as the repayment plans available. If you are struggling under the weight of student loans this episode will provide you information and encouragement to get rid of those student loans and begin building wealth as soon as possible. To find the best deals for refinancing your student loans go to https://www.whitecoatinvestor.com/student-loan-refinancing/

This episode is sponsored by Set for Life Insurance https://www.setforlifeinsurance.com/ Set for Life Insurance was founded by President, Jamie K. Fleischner, CLU, ChFC, LUTCF in 1993 which she started while attending Washington University in St. Louis. They specialize in individual term life, disability and long term care insurance. They work on the client’s behalf to shop around to find the most suitable products at the most cost-effective rate. Set for Life is first and foremost a client-centric company. They listen carefully to the needs of clients. Because of the volume and exceptional reputation of Set for Life Insurance, as well as the relationships they have developed over the years, Set for Life clients have access to special services not available elsewhere in the industry. This includes special discounts, gender-neutral policies (saving women significantly), priority underwriting handling and on some occasions exceptions in the underwriting process.

Transcript

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0:00.0	This is the White Code Investor Podcast, where we help those who wear the White Code get a fair shake on Wall Street.
0:06.0	We've been helping doctors and other high-income professionals stop doing dumb things with their money since 2011.
0:12.0	Here is your host, Dr. Jim Dolly.
0:18.0	This is White Code Investor Podcast No. 119, Paying for College with Robert Farrington.
0:23.0	This episode is sponsored by Set for Life Insurance.
0:27.0	Set for Life Insurance was founded by President Jamie K. Flaishner, CLU, CHFC, LUTCF in 1993, which he started while attending Washington University in St. Louis.
0:37.0	They specialize in individual term life, disability, and long-term care insurance.
0:41.0	They work on the clients' behalf to shop around to find the most suitable products at the most cost-effective rate.
0:46.0	For more information, visit subtforlifeinsurance.com.
0:51.0	If you haven't checked out our new Financial Advisor page, our recommended Financial Advisor page, I recommend you go check that out.
0:58.0	You can find it at whitecodeinvestor.com slash financial-advisors.
1:03.0	This page is something that I have been working on for years.
1:08.0	Even from the very beginning of this blog, I have been getting questions from people basically asking for recommendations for financial advisors.
1:16.0	In the beginning, I just threw a few names up there of people I knew were good and that's kind of how it started.
1:20.0	Then I had people start approaching me to be listed on that page.
1:24.0	I ended up turning lots of them down, obviously, because I think most financial advisors really aren't very good.
1:30.0	Eventually, it just became so much work we started charging for it.
1:34.0	I said I'm doing too much analyzing all these different firms and trying to figure out who are the good ones to be given it away for free.
1:40.0	It started actually one of our ads that you could buy. You could buy a listing on the page.
1:45.0	Long as you passed my criteria, I put an application in place.
1:50.0	Basically, I asked all the questions that I think you ought to ask a financial advisor when you hire them.
1:54.0	If they could get all the questions right, they were fee-only, they were fiduciaries, the price was reasonable, they were giving good advice, they were using passive investments, etc.
	...

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