Why I’m Starting a Flat Fee Student Loan Consulting Business

flat fee student loan consulting
There’s a lot of people out there that might need one on one help with their student loans, like this poor guy on a park bench.

I have no idea how businesses get your cell phone number. Somehow, a bunch of scumbag student loan robo-calling businesses have mine. I received a call from somewhere in North Carolina on Monday URGING me to press 1 to speak to a private loan counselor NOW. If you type in ‘student loan consult’ into Google, there are fewer than a half dozen legitimate options. The ones that do exist are ridiculously expensive. There is a massive need for objective, math-based, flat fee student loan consulting. Hence, I have decided to offer consultations for between $100-$200 that could change your financial life. Continue reading “Why I’m Starting a Flat Fee Student Loan Consulting Business”

State Taxes Should Make You Want to Max Your 401k

max your 401k
Keep the bear away from your wallet. Max your 401k

If you currently live in a high tax state like California, New York, New Jersey, Georgia, or Missouri, if you’ve looked at your paycheck you see a ton of taxes going to the state government. What are the chances you remain in that state at retirement? They’re probably pretty low given that the average person moves almost 12 times during their lifetimes. I suggest taking a look to see if your 401k is tax deductible from your state’s income tax. Most likely it is, and that means you should max your 401k right away if you can afford to.  Continue reading “State Taxes Should Make You Want to Max Your 401k”

How Much Money Is Enough to Walk Away?

enough to walk awayJohn Bogle, the founder of Vanguard, wrote an interesting book a few years back called Enough: True Measures of Money, Business, and Life
In it, he talks about how he accidentally returned about $50 billion back to Vanguard shareholders by making the company a mutually owned business rather than a privately held business like Fidelity. Instead of $50 billion, he’s only worth about $50 million. That’s the first time I was confronted with the thought of how much is enough to walk away.  Continue reading “How Much Money Is Enough to Walk Away?”

Why Increased Access to Student Loans Is Mostly Just Good for Greedy Colleges

greedy colleges
For every $1 of increased access to federal student loans, the colleges capture 60% of it through tuition hikes, which pay for critical spending such as the “University of Phoenix” NFL stadium

A paper by the NY Fed that came out recently should embarrass our nation’s colleges and universities. The researchers found that whenever the federal government increases access to subsidized or unsubsidized student loans, colleges take away the majority of this extra help through tuition increases. For every $1 of extra aid intended to help needy students, universities take away 60 cents of it through increasing their tuition prices. Clearly, greedy colleges cannot keep their hands out of the federal student loan cookie jar.  Continue reading “Why Increased Access to Student Loans Is Mostly Just Good for Greedy Colleges”

Wealth Inequality Does Not Bother Me

wealth inequality
My 2004 Honda Civic with 200,000 miles on it looks like a Ferrari compared to the Model T

If you listen to the nominees of both major political parties in America, you’d hear that wealth inequality is one of the most existential threats to America in the 21st century. Indeed, in many public policy conversations, unequal division of wealth in America is treated as a no brainer negative for the country. However, I will make an argument that what we should be concerned about is not concentration of wealth at the top, it’s financial literacy and the rate of economic growth. Continue reading “Wealth Inequality Does Not Bother Me”

Why Student Loan Forbearance Is the Worst Thing You Can Do

student loan forbearance
Maybe they’re angry because they didn’t know forbearance screws up most student loan repayment plans

I’m going on my sixth month now of offering flat fee $100 consultations at travis@millennialmoola.com to help folks make a personalized plan to conquer their student debt. After months of studying the federal student loan program, I built a free spreadsheet that over 1,500 people have used to avoid losing out on thousands of dollars in savings by refinancing with companies like SoFi or using the PSLF program. Clearly, helping people with student loan debt is a passion of mine. Let me share with you another free bit of advice. Student loan forbearance is one of the worst things you can do when making a repayment plan. Continue reading “Why Student Loan Forbearance Is the Worst Thing You Can Do”

The Better the Hospital, The Lower Doctors’ Salaries

doctors' salaries
These docs’ salaries might make hundreds of thousands of dollars apart just because some choose to work at academic hospitals instead of go into private practice

When you’re deciding where to work after medical school, where do you think you’d make the most money? Harvard Medical School? Johns Hopkins? You’d be very wrong. I’ve received an up close education to the world of physician compensation after I helped my girlfriend search for jobs this past year, and the results are very surprising. As a general rule, the better the hospital, the lower doctors’ salaries.  Continue reading “The Better the Hospital, The Lower Doctors’ Salaries”

A Dank Basement Enabled Me to Retire at 25

dank basementPeople really want to know what I’m doing with my life when they find out I retired early at 25. They assume I must have had a high powered job and made gobs of money. After all, that’s the only way someone could possibly afford to walk away from it all in this still tenuous economy. In fact, I have to give a special thanks to my dank basement. Without it, I would still be sitting at a cubicle. Continue reading “A Dank Basement Enabled Me to Retire at 25”

Podcash Episode 2 with Christine from CallMeWatson.com

In the latest version of Podcash, I interview my girlfriend Christine from CallMeWatson. We actually recorded this episode in the creative studio center at the St. Louis public library. We talk about our relocation to a new city, how we got a great deal on a car by using Craigslist, and more.  Continue reading “Podcash Episode 2 with Christine from CallMeWatson.com”

What to Do When a Bunch of People Quit at Work

bunch of people quit at workOne of my close family members is dealing with a tough situation right now in her job. A bunch of people quit at work, and now she has to work investment banker hours since they are missing have the normal team size. I realized in watching her employer push her to accept double her normal shifts that employees just don’t realize the power they have. It’s time we turned the tables on the profit focused businesses and squeeze them when the balance is in favor of the employee.  Continue reading “What to Do When a Bunch of People Quit at Work”