188: Finance Friday: Is A Master's Degree Worth The Pay Raise?

188: Finance Friday: Is A Master's Degree Worth The Pay Raise?

Being strapped with student debt isn’t easy. It creates a whole new obstacle to hitting financial freedom, but it can be mitigated. So does it make sense to invest on the side and pay the regular monthly payments on student debt, or go all-in and pay off huge chunks of student debt at once? Today’s guest, Robyn, has this exact question (which many of you may have as well). Robyn lives in the Bay Area, one of the most notoriously expensive housing markets on the planet. That being said, she is paying very low rent, under $700 a month, split with her partner. Robyn has student loans and a small car loan, but wants to go back to school to get her master’s degree so she can hit her career goals. There would be a pay raise after she got her master’s and she loves her job, so she’s keen on staying in her sector for awhile. Scott and Mindy go through a few examples where it may be best for Robyn to go more heavy on investing, instead of paying off the student loan aggressively. This is especially true now that the government has given the option of 0% interest payments on student loans for many students (including Robyn) until at least the last quarter of 2021. So what makes more sense, get rid of debt or go in on investing? In This Episode We Cover Keeping a large savings rate every month for unexpected expenses Finishing school faster so you walk away with less debt Knowing your student loan and other debt interest rates Weighing investing against paying off student loans quicker Having a side-income so you can maximize saving whenever possible And So Much More! Learn more about your ad choices. Visit megaphone.fm/adchoices

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She Retired at 39… After Moving to New York City

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Most people think you need to leave expensive cities to reach financial independence. Walli Miller did the opposite. After discovering the FIRE movement in 2015, Walli Miller moved to New York City—o...

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In this episode, discover how Eli, a 24-year-old living in NYC, is on track to hit financial independence and retire early—despite the city’s high living costs. His strategies and mindset shift challe...

21 Huhti 37min

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Retiring Early in 5 Years? Do THIS First

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Thinking about early retirement in the next 5 years? This episode breaks down exactly how to prepare—financially and emotionally—so you don’t just retire early, but stay retired. Mindy Jensen and Scot...

10 Huhti 41min

How She Quit Full-Time Work at 27 Without Millions (Coast FI)

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What if you didn’t have to grind your way to financial independence? In this episode, Alyssa shares how she reached Coast FI by prioritizing flexibility, intentional spending, and what she calls “hobb...

7 Huhti 46min

Can He Retire in 10 Years? (We Ran the Numbers)

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Is a $2M net worth enough to retire in 10 years? In this Finance Friday episode, Mindy and Scott break down a real “messy middle” case study—Karl, a high-saving household navigating early retirement p...

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