138: Managing Student Loans and When to Pay for Advice

White Coat Investor Podcast

Dr. Jim Dahle of the White Coat Investor

Medicine, Health & Fitness, Business, Investing

4.9 • 2.3K Ratings

🗓️ 26 December 2019

⏱️ 64 minutes

🔗️ Recording | iTunes | RSS

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Summary

There is a huge issue with student loans in our country today. I think it is currently at $1.7 trillion. That is almost half of the annual federal budget. One out of six Americans over the age of 18 have student loans. We have discussed many times on the blog and podcast the huge student loan burdens that physicians and dentists are dealing with. In this episode I interview Travis Hornsby, a student loan expert at https://www.studentloanplanner.com/wci. We have a great discussions about unique ways to manage your student loans and techniques that you have probably not heard of before. We talk about who needs to seek out formal student loan advice and who probably doesn't. Managing your student loans takes into account retirement contributions and how you file your taxes. It can be very complicated and advice from the professionals at https://www.whitecoatinvestor.com/student-loan-advice/ is just a few hundred dollars but can likely likely save you thousands of dollars in interest and other costs associated with your loan. Listen to this episode to learn techniques for managing your loans and to better understand whether you need to seek professional advice for your student loan burden.

This podcast is sponsored by Bob Bhayani at drdisabilityquotes.com. They are an independent provider of disability insurance planning solutions to the medical community in every state and a long-time white coat investor sponsor. They specialize in working with residents and fellows early in their careers to set up sound financial and insurance strategies. He is very responsive to me and to readers having any sort of an issue, so it is no surprise that I get great feedback about him from our readers and listeners. If you need to review your disability insurance coverage to make sure it meets your needs or if you just haven’t gotten around to getting this critical insurance in place, contact Bob at drdisabilityquotes.com today by email [email protected] or by calling (973) 771-9100. Just get it done!

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 number 138, Student Loans, Win To Get Advice.
0:24.0	It's good to have you back. Thanks for listening to the White Code Investor Podcast and thanks for what you do.
0:29.0	You're probably on your way into work. Hopefully you're on your way home. But either way, if nobody thanks you today, let me be the first.
0:36.0	This podcast is sponsored by Bob Bionny at drdisabilityquotes.com, a truly independent provider of disability insurance planning solutions to the medical community nationwide and a long time WCI sponsor.
0:47.0	Bob specializes in working with residents and fellows early in their careers to set up sound financial and insurance strategy,
0:53.0	and has been extraordinarily responsive to me anytime any reader has had any sort of an issue.
0:58.0	So it's no surprise that I often get great feedback about him from readers and listeners.
1:02.0	If you need to review your disability insurance coverage to make sure it meets your needs, or if you just haven't gotten around to get in this critical insurance in place, contact Bob at drdisabilityquotes.com today, or by email info at drdisabilityquotes.com, or by calling 973-7719100.
1:22.0	Alright, let's do our quote of the day. This one comes from Bill Gross, that famous bond fund manager who said,
1:27.0	Jack Vogel's early business model, a Vanguard promoting index funds, was a mystery to me for at least a few of my beginning years at PIMCO.
1:34.0	Why would most investors be content with just average performance, I wondered? The answer is certainly now obvious. Isn't that the truth?
1:41.0	And thank you to Vanguard for really implementing the low cost index fund solutions. Obviously now you can buy funds that are just as good at Schwab or Fidelity or I shares.
1:51.0	But let's not kid ourselves, those would never exist if it hadn't been for Vanguard.
1:55.0	If you are dealing with student loans, I have a couple of resources on the website, you are likely going to be very interested in.
2:01.0	One of which can be found at whitecodeinvestor.com slash student-loan-refinancing. And you can find that under the recommended tab.
2:09.0	What this is, is it's a guide to win and how to refinance your student loans. We have all the best student loan refinancing companies listed there, and I have negotiated special deals with each of them.
2:21.0	These are better deals than you will get if you go directly to their website. Usually it's cash back.
2:26.0	So if you refinance your loan, not only do you get much better service and a lower interest rate, but you get cash back, it might be 200 bucks, might be more, 400 and 500 bucks sometimes.
2:36.0	So make sure you go through those links when you refinance your student loans to get the best deals.
	...

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