Balancing College, Retirement, and Real-life Financial Goals | EP 22 cover art

Balancing College, Retirement, and Real-life Financial Goals | EP 22

Balancing College, Retirement, and Real-life Financial Goals | EP 22

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 The scariest thing about college isn’t the application—it’s the bill. But what if you could face tuition with clarity—and maybe even confidence? Paying for college is more complex than ever—with tuition rising and new legislation changing the landscape for student loans and financial planning. The earlier—and the more holistically—you strategize, the better set up your student (and your family’s financial future) will be. That’s why today’s episode introduces you to Brenton Harrison, the host of the New Money, New Problems podcast. Building a College Plan That Won’t Derail Retirement Brenton is a fellow financial advisor who’s also well-versed in the tax and student loan impacts of Trump’s Big Beautiful Bill, so we took the opportunity to explore strategies that families can use to balance college expenses without derailing other financial goals. Here are 3 Key Takeaways every college-bound family should know: Have Honest Conversations Early Transparent talks about your college funding strategy—what you can afford, what you’re willing to spend, and what colleges expect—set the stage for stronger decisions. As Brent Harrison said, “Nothing you do financially happens in a vacuum.” Private school choices, savings vehicles, and retirement planning are all interwoven. Know the Impacts of New Student Loan Legislation Major changes in legislation in 2025 mean repayment options for federal loans—including Parent Plus—are shifting dramatically. Deadlines are approaching (July 1, 2026 & July 1, 2028) after which fewer repayment plans and forgiveness paths will be available. Families must understand the rules and plan ahead—those who act early have more options. Prioritize Flexibility in Savings College isn’t just about 529 plans anymore. Sometimes focusing on liquidity and a wider mix of non-retirement investments gives families more options later—especially if you’re balancing college against other needs like retirement and real estate. Smart Strategies for Affording College in 2026 and Beyond (00:06:16) Big Bill Act Reshapes Tax Planning (00:07:32) Tax Strategies and Loopholes to Explore (00:13:20) Student Loan Policy Changes After 2026 (00:15:55) Financial Choices and Education Impact (00:18:56) Financial Prep for College (00:25:56) Reduce Student Loans While Pregnant (00:29:54) Honest Conversations on Education Costs (00:31:20) Student Loans: Strategy and Balance From Tax Planning to Tuition: Maximizing Your Family’s Financial Success If worrying about tuition, student loans, or how to pay for college without sacrificing your retirement has kept you up at night, listen in to learn some creative ways to save (aside from the 529) and some even more creative ways people have funded their kids’ college tuition. “Nothing that you do financially happens in a vacuum. Anything you do in one area is going to impact another.” – Brent Harrison Many parents think, “I’ll put the kids in private K-12, then cobble together college costs.” But draining your savings means less for retirement and fewer education dollars saved. Similarly, hoping and wishing your teen will get a “full ride” isn’t a plan. When it comes to paying for college, the key is understanding how each financial choice connects to your broader goals—whether that means planning for retirement, managing student loans, or staying current on changes in tax laws. Many families benefit from honest conversations about what’s possible and proactive planning to keep their options open. Taking the time to learn, ask questions, and involve the right professionals can help make the journey less stressful and more rewarding for everyone involved. Follow Brenton Harrison: LinkedIn: https://www.linkedin.com/in/brentonharrison/ Website: https://www.newmoneynewproblems.com/ New Money New Problems Podcast: https://www.newmoneynewproblems.com/podcast Connect with host, Jack Wang: https://www.linkedin.com/in/thejackwang/ *be sure to send a connection request with a message saying Hello! Navigate college funding with me at www.smartcollegebuyer.com The content of this podcast is for educational and informational purposes only and should not be considered financial, tax, or legal advice. Nothing in this podcast is a recommendation or solicitation to buy or sell any financial product or service. Every family’s financial situation is unique, so always consult with your own financial or tax professional before making any decisions. While we do our best to provide accurate and up-to-date information, we can’t guarantee its completeness or accuracy. Past performance is not indicative of future results. Your mileage may vary. No warranties, express or implied. Batteries still not included.
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