215: How to Invest Wisely and Crush Student Debt | Feedback Friday

Jun 21, 2019

Dive into practical strategies for tackling student debt and investing wisely, with insights from a financial expert. Discover how quick judgments impact relationships, and learn the art of mastering negotiations for loans and investments. Explore the challenges faced by medical professionals laden with debt, alongside strategies for balancing saving and repayment. Engage with thought-provoking discussions on political bias and the benefits of forming genuine connections outside social media. Plus, enjoy thrilling stories from the world of adventure!

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INSIGHT

Initial Judgment vs. New Information

Judging others quickly is a natural security-based process, but letting it cloud further interactions is disadvantageous.
Changing your mind quickly with new information is a massive advantage.

ADVICE

Overcoming Judgmental Tendencies

Be aware of your judgmental tendencies and ignore others' perceived status, especially if it triggers insecurity.
Treat people equally, disregarding initial judgments to control emotional reactions and learn more about them.

ADVICE

Corporate Entities for Loan Management

Use corporate entities to shield income from increasing loan payments, allowing for investment and asset growth.
This strategy provides a legal way to manage finances and build wealth despite high student loan debt.

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There's lots of stuff in this one about investing wisely and eradicating debt -- especially student debt -- thanks to some professional help from our all-star, money-ninja accountant Matt Rzepka, along with the usual questions about everything else we get here on Feedback Friday.

And in case you didn't already know it, Jordan Harbinger (@JordanHarbinger) and Jason DeFillippo (@jpdef) banter and take your comments and questions for Feedback Friday right here every week! If you want us to answer your question, register your feedback, or tell your story on one of our upcoming weekly Feedback Friday episodes, drop us a line at friday@jordanharbinger.com. Now let's dive in!

Full show notes and resources can be found here: https://jordanharbinger.com/215.

On This Week's Feedback Friday, We Discuss:

You judge people quickly, won't suck up to authority, and have a reputation as being unapproachable. What's really going on, and are you stuck this way?
You're a frugally living 37-year-old doctor swimming in med school debt. Should you put all your money into saving and investments or toward extra loan repayment?
For someone with student loan debt just starting out in their career, what is the best move for financial freedom? Should you pay off debt, invest, build savings, or acquire assets?
Early in med school with many years of debt ahead, is it still worth it to be locking your money up and committing to your monthly index fund?
Your network connection is great at opening doors, but lackluster in work ethic. Is there a way to inoffensively compensate them for opening those doors without involving them in the actual job that results?
Are you really offended when an entertainer (say, a podcaster) openly expresses their political views, or are you just offended when their political views seem to differ from yours?
How can you stop giving in to your need for instant gratification and become a productive member of society when you lack discipline and think the world's ending anyway?
Life Pro Tip: If you volunteer to give up your seat on an overbooked flight, don't just take the first offer. Tell the gate agent, "Toss in another $200+/- and I'll go for it." They'll almost always agree, because a willing volunteer is worth it. And if they offer you a meal voucher, ask for a day pass to their first class club instead. It will have food plus other amenities!
Recommendation of the Week: The Dawn Wall
A quick shoutout to Malak Firaas from (the nation of) Jordan!
Have any questions, comments, or stories you'd like to share with us? Drop us a line at friday@jordanharbinger.com!
Connect with Jordan on Twitter at @JordanHarbinger and Instagram at @jordanharbinger.
Connect with Jason on Twitter at @jpdef...

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