This Debt Mistake Could Cost You MILLIONS!
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.7 • 3.1K Ratings
🗓️ 21 October 2024
⏱️ 34 minutes
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| 0:00.0 | Look out. This debt mistake could cost you millions. |
| 0:11.0 | Brian, I am so excited about this because we love helping our people make decisions that can |
| 0:17.0 | make you millions and avoid the decisions that can cost you millions. |
| 0:21.0 | So we are so excited that we can speak to those kinds of things and we love |
| 0:25.3 | that we can speak to all kinds of things that you care about. We want to know |
| 0:29.2 | what are those things that you are interested in and how can we be a resource to help you do money better? |
| 0:35.8 | So right now we have the team out in the wings collecting your questions. |
| 0:39.5 | If you want us to load you up, feel free to get your question in the chat right now. |
| 0:45.3 | So with that, Creative Director Ribi, I'm going to throw it to you. |
| 0:48.5 | Yeah, we've got a good one to kick us off from Joe. |
| 0:51.5 | He says, does the food change, meaning the financial order of operations, |
| 0:56.8 | if your student loan balance is huge? |
| 1:00.1 | My financial loan balance is almost 300K. |
| 1:05.0 | So what do you think? |
| 1:07.0 | Okay, this is an interesting one, Joe. |
| 1:11.0 | First of all, $300,000 student loan balance is big. |
| 1:16.9 | Like that is a significant and substantial amount of debt. |
| 1:21.5 | And what I hope that means is that you have followed our money guide |
| 1:26.7 | guidance that says okay when you graduate with student loan debt your total amount |
| 1:31.0 | of student loan debt cannot exceed or should not exceed |
| 1:34.0 | your first year salary. So I'm hoping that with |
| 1:36.8 | 300,000 dollars of student loan debt it means that you have pursued a |
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