summary

In this episode, Tony Bradshaw speaks with Robert Farrington, known as the College Investor, about the complexities of college investing, student loans, and personal finance.

They discuss the evolution of student loans, the value of a college degree today, and alternative paths to education and career. Robert shares strategies for managing student loan debt, the importance of financial literacy for parents, and the pros and cons of different college savings plans.

The conversation emphasizes the need for realistic expectations regarding earnings after graduation and the importance of investing wisely to build wealth.

HIGHLIGHTS

• Robert Farrington started writing about student loans in 2009, addressing a growing issue that was largely ignored.
• The cost of college has significantly increased since the 1990s, leading to a student loan crisis.
• Only 30% of graduates use their degree in their field after five years.
• It's crucial to borrow no more than what you expect to earn in your first year after graduation.
• Many large employers offer to pay for college education, providing a cost-effective path for students.
• Vocational training and trades can offer lucrative career options without the need for a four-year degree.
• 529 plans are a tax-efficient way to save for education, but there are other investment options available.
• Financial literacy is essential for parents to guide their children in making informed decisions about education and debt.
• Investing in real estate can be a viable alternative to traditional college savings plans.
• Education can be pursued at any age, and there are many resources available for lifelong learning.

Connect with Robert Farrington, The College Investor at thecollegeinvestor.com

Is money slipping through your fingers? Are you missing your opportunity to become a millionaire? Welcome to The Millionaire Choice. Where we talk to millionaires and future millionaires about how to build wealth and what to do with it once you have it. We’re here to help you do two things, make your millionaire choice and create your own millionaire plan.

Here’s your host Tony Bradshaw. He made his choice and created his millionaire plan at age 25. Now it’s your turn.

In case you didn’t know, the world’s financial system is going through a major transformation. My question for you is “Are you ready for it?” One of the things you can do to get ready, is learn about gold and silver.

In reality, gold and silver have been real money and real wealth for over 3,000 years, helping people navigate and thrive through every major upheaval in history. Remember, gold is God’s money. He made it, and it’s never lost its value.

That’s a wrap for this episode of The Millionaire Choice Podcast. If you like the show, please review and subscribe!
And remember, if you want to be good with money, you need to study money. You need to get money smart, and give your money a purpose. Enjoy life. Help others. Serve God. For resources, tools, and community to help you with your millionaire journey, make sure you visit tonybradshaw.com.
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