Beware! Don't Fall Into "The College Money Pit Trap!" | Evan Giokas - E80

Beware! Don't Fall Into "The College Money Pit Trap!" | Evan Giokas - E80

Author: Jesse Cramer May 8, 2024 Duration: 1:11:34

Jesse starts this episode discussing his "50/50 rule" of college savings. Jesse also talks about 529-to-Roth conversions (why they're overrated!), the FAFSA, and other financial tools at our disposal for college planning. 

 

Evan Giokas then joins the show to dive deeper into a college admissions conversation. Evan is the founder of The College Confidence Coach, which helps students through their higher educational journey. Evan covers what a "conative assessment" is,  how to be cost-conscious when preparing for college, how to start college conversations with your child, and the importance of showing your values to college admissions staff..

 

If you're preparing a child for college, this is the episode for you!

 

Key Takeaways:

  • How to start the college conversation with your child 

  • What is the Conative Assessment? 

  • What is the college money pit trap?

  • How to be cost-conscious in college planning

  • How to optimize your FAFSA

  • The "50/50 Rule" for college saving

  • The pros and cons of 529–to-Roth conversions

 

Mentions:

🌐 Website: https://www.thecccoach.com/ 

👉🏼 LinkedIn: https://www.linkedin.com/in/evan-giokas-56443746/ 

📚 The Important Details Behind 529-to-Roth Conversions: https://bestinterest.blog/the-important-details-behind-529-to-roth-conversions/

📚 Follow the 50/50 Rule for College Saving: https://bestinterest.blog/the-50-50-rule-for-college-saving/

📚 University of the People: https://www.uopeople.edu/ 

 

More of The Best Interest:

Check out the Best Interest Blog at bestinterest.blog

Contact me at jesse@bestinterest.blog

 

The Best Interest Podcast is a personal podcast meant for educational and entertainment. It should not be taken as financial advice, and is not prescriptive of your financial situation.


Navigating the world of money can feel overwhelming, with a constant stream of conflicting tips and trendy, quick-fix schemes. Personal Finance for Long-Term Investors-The Best Interest cuts through that noise. Host Jesse Cramer brings a unique perspective to the conversation, transitioning from his background as an aerospace engineer to his work as a fiduciary financial advisor. This podcast is built on the principle that genuine wealth isn't built overnight through speculation, but through consistent, well-reasoned decisions made over decades. Each episode delves into the mechanics and mindset required for that journey, exploring topics like retirement planning, intelligent investing, and the behavioral aspects of managing money. You'll find discussions that go beyond surface-level advice, examining the "why" behind proven strategies and how to apply them to your own life. The tone is conversational and grounded, avoiding financial jargon in favor of clear explanations. It’s a resource for anyone tired of the hype and seeking a sustainable path forward. By focusing on evidence-based ideas and patient execution, this podcast aims to provide listeners with the tools and confidence to build a secure financial future on their own terms. Tune in for a thoughtful, long-term approach to personal finance that prioritizes your best interest.
Author: Language: English Episodes: 100

Personal Finance for Long-Term Investors
Podcast Episodes
Money is Simple...But Not Easy - E48 [not-audio_url] [/not-audio_url]

Duration: 22:04
Truth be told, personal finance is simple. There's only a small number of foundational rules and a sprinkle of middle school math involved. But our natural human short-comings make personal finance difficult to enact. So…
Is There a "War on Merit?" featuring The Financial Samurai - E47 [not-audio_url] [/not-audio_url]

Duration: 34:25
While the idea of living in a meritocracy is desirable, as it rewards those who do better, is it prevalent in today's society? With 25% of American households making less than $30,000 a year, do billionaires really offer…
9 Science-Backed Tips For Your 2023 Finances - E46 [not-audio_url] [/not-audio_url]

Duration: 46:18
2022 was a unique year for investors. Let's compare last year's bond and stock performances with historical trends to paint a bigger picture. Looking ahead to 2023 and beyond, there are reasons to be optimistic. Next, un…
A Terrific Interview - Jesse Cramer on "The Struggle is Real" - E45 [not-audio_url] [/not-audio_url]

Duration: 57:01
Big thanks to Justin Peters, from The Struggle is Real podcast, for allowing me to share this episode. A few months ago, Justin and I sat down to discuss helping young adults with their personal finances. We had a great…
Omission and Paralysis - E43 [not-audio_url] [/not-audio_url]

Duration: 25:43
On this episode of the podcast, we discuss the hidden dangers of "analysis paralysis" in personal finance. And we discuss the "omission vs. commission" problem in investing. Does "doing nothing" absolve you of financial…
Lollapaloozas - E42 [not-audio_url] [/not-audio_url]

Duration: 34:05
On this episode, we talk about rogue waves, rogue markets, and paying off debt. We also answer 4 cool listener questions, covering: - credit cards - how to invest $100K - if current economic conditions are affecting my i…
Kanye West and Reader Questions - E41 [not-audio_url] [/not-audio_url]

Duration: 30:25
This episode features thoughts on Kanye West, and detailed answers to two terrific reader/listener questions. A few links: Original Kanye article: https://bestinterest.blog/kanye-broker-than-me/ ChroniFi podcast: https:/…
Did I Make an Investing Mistake? - E40 [not-audio_url] [/not-audio_url]

Duration: 32:37
In this episode, we talk about: - the college loan forgiveness program - "gardening" vs. "dining out," and how it applies to financial planning - a blog reader asking if they made a BIG investing mistake?

«1...678910