Upcoming Event!
How Can Mindfulness Help You Reach Financial Independence?
Do you want to reduce money anxiety, but don’t know who to trust?
Would you like to learn how to set up and manage your own retirement plan?
Do you want to know how we create a passive income stream you can’t outlive?
If yes, join us and learn how to answer the 4 critical financial independence questions:
- Am I on track for financial independence?
- What do I need to do to get on track?
- How do I design a mindful investing portfolio?
- How do I manage that portfolio and my income over time through changing markets?
Learn more: https://courses.mindful.money/financial-independence-bootcamp
Brad Baldridge is one of the nation’s leading college financing experts. He teaches families the best ways to plan, save and pay for college so they can make their children’s college dreams come true without wiping out their own finances and retirements. For twenty years, Brad has shared his expertise and insights through his private practice and as a blogger and podcast host for his company, Taming the High Cost of College.
Today, Brad joins the show to discuss the difference between education and college, changes to FAFSA, and advice for those in both early and late stage college planning.
Watch on YouTube
Key Takeaways
00:55 – Jonathan introduces today’s guest, Brad Baldridge, who joins the show to talk about his career trajectory from a financial advisor to one who focused specifically on college
07:08 – The difference between Education and College
10:26 – Alternative options young people can consider aside from college 13:23 – Privilege and the value of a college degree
19:13 – Early stage and late stage college planning
25:01 – College visits and entrance exams
32:09 – Changes to FAFSA (Free Application for Federal Student Aid)
39:37 – What Brad offers in his courses on college planning
42:08 – One piece of advice for college planning
45:51 – The one question Brad would want to know the answer to and one thing Brad would like others to know about him
49:22 – Jonathan thanks Brad for joining the show and for the work he’s doing
Tweetable Quotes
“Anytime someone says, ‘college for everyone,’ it drives me crazy. There’s a whole bunch of people who need an education. But education and college are not the same thing. You can get an education by being an apprentice, going through the military, or the School of Hard Knocks.” (08:25) (Brad)
“If you talk about the average student, if the professor said, ‘I’m canceling class next week,’ they would say, ‘Great!’ Not, ‘Wait a minute. I paid for those classes. I’m here to learn and now I’m getting less for my money. Am I gonna get a refund?’ It’s just a completely different mentality.” (16:41) (Brad)
“‘Do you qualify for need-based aid? I don’t know. Well, here’s how you figure that out.’ And once you have this answered, if the answer is, ‘no, need-based aid is not something you have to worry about’ then you don’t have to worry about it.” (40:10) (Brad)
“If education is important to you, then you better walk the walk and not just talk the talk.” (42:30) (Brad)
“Ten to twenty years ago, everybody just did the best they could. And today, ninety percent of people are still doing the best they can. Ten percent have realized, ‘Oh, I can hire somebody to help me, or take a course, or study online information, or read a book.’ I think a big chunk of the population doesn’t even know that there’s something out there.” (48:16) (Brad)
Guest Resources
Taming the High Cost of College Website
Taming the High Cost of College Facebook
Contact Brad: (414) 885-5111
Books Mentioned:
Who Gets In and Why: A Year Inside College Admissions
Mindful Money Resources
For all the free stuff at Mindful Money: https://mindful.money/resources
To buy Jonathan’s first book – Mindful Money: https://www.amazon.com/Mindful-Money-Practices-Financial-Increasing/dp/1608684369
To buy Jonathan’s second book – Mindful Investing: https://www.amazon.com/Mindful-Investing-Outcome-Greater-Well-Being/dp/1608688763
Subscribe to Jonathan’s Weekly Newsletter: https://courses.mindful.money/email-opt-in
Capture the most important benefit of an advisor – behavioral support – without the 1% fee: https://courses.mindful.money/membership
For more complex, one on one financial planning and investing support with Jonathan or a member of Jonathan’s team: https://www.epwealth.com/our-team/berkeley/jonathan-deyoe/
Website: https://mindful.money
Jonathan on LinkedIn: https://www.linkedin.com/in/jonathandeyoe
Podcast Production & Marketing by FullCast
This podcast uses the following third-party services for analysis:
Chartable – https://chartable.com/privacy
January 18-19, 2024