YFP 262: How Two Pharmacists Paid Off $250k of Student Loan Debt

Your Financial Pharmacist

English - June 30, 2022 09:00 - 31 minutes - 28.7 MB - ★★★★★ - 160 ratings
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Previous Episode: Ask a YFP CFP® #120: Should I refinance my federal student loans with the possibility of some student loan cancellation happening?

Next Episode: YFP Real Estate Investing 64: How One Pharmacist Bought 10 Rentals in His First Two Years

Kristen & Nate Hedrick to discuss their journey in paying off $250k of student loan debt, their motivation and why for aggressively paying off the debt, and the role a side hustle and real estate investing played to help them achieve their goal.

Key Points From This Episode

Kristen’s background, how she ended up in pharmacy, and what she’s doing now. What their student loan debt looked like at its peak. How student debt can creep up and surprise you. The initial feelings the couple had towards their debt and their plans to pay it off. What motivated our guests to come up with an aggressive plan for paying back their debt. How a life-changing event (and a book) in 2016 changed everything. The global pandemic as a moment of inspiration. What they had to change in their lives to be able to make the monthly repayments. Paying off debt now versus investing for the future. The way the couple used ‘double motivation’ to reconcile an age-old debate. How our guests were able to raise a child, invest, and pay off a huge debt at the same time. Nate’s decision to pursue real estate investing and what that meant for their debt repayments. The approach the couple has taken to make real estate investing work for their family. Other strategies that helped to pay off the debt aside from cutting expenses and real estate investments. The benefits of receiving objective, third-party advice. What life is like now after paying off their massive debt. How paying off the debt helped Nate make an important career decision. Kristen’s advice for the pharmacist struggling with debt. Nate’s parting words of wisdom.

Links Mentioned in Today’s Episode

YFP Planning: Financial Planning for Pharmacists Schedule a free Discovery Call with YFP Planning YFP Real Estate Investing Podcast Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert T. Kiyosaki Real Estate RPh YFP Real Estate Concierge Service BiggerPockets Your Financial Pharmacist Disclaimer and Disclosures