#39 - Decoding College Costs and Complex College Savings Plans with Brad Baldridge

On this episode of Passive Income Pilots, Tait and Ryan interview Brad Baldridge. Brad Baldridge is a Certified Financial Planner™, College Funding Consultant, and chief podcaster at Taming the High Cost of College. He has many years of experience working with families in the college planning process, where he seeks to reduce their college costs significantly. Brad provides expert guidance, customized planning services, and insights on the latest tax, cash flow, and academic strategies. He specializes in helping students earn admission to their preferred school and realize their college dreams. Brad discusses the complexity of college planning, the impact of interest rates on loans, early-stage vs. late-stage planning, the cost of attending flagship public universities, and alternatives to traditional college education. He also talks about strategies for paying for college, including 529 plans and hiring children for tax benefits. He briefly discusses navigating divorce and college planning. Enjoy the show!

Timestamped Show Notes

(00:00) Intro

(03:42) Introduction and background on college planning

(06:36) Early-stage vs. late-stage college planning

(08:04) Comparing public and private college costs

(12:23) Introduction to 529 plans and their benefits

(16:54) Trade school or flight school qualifications

(18:20) Changing attitudes towards college requirements

(20:56) Declining value and increasing cost of college education

(25:57) Late-stage planners overlook the cost of education

(28:23) Educate kids about the costs of college

(31:04) Helping clients and college planning for upper-middle-income families

(33:38) Real estate as a college planning strategy

(36:13) Hiring kids for tax benefits in college planning and determining reasonable pay for kids working in a business

(42:30) Navigating college planning for divorced couples and finding a fair solution

(47:28) How to connect with Brad

(48:52) Outro

Connect with Brad

Website: https://tamingthehighcostofcollege.com/

Website: https://bradbaldridge.com/

LinkedIn: https://www.linkedin.com/in/bradbaldridge/ 

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Legal Disclaimer

The content of this podcast is provided solely for educational and informational purposes. The views and opinions expressed are those of the hosts, Tait Duryea and Ryan Gibson, and do not reflect those of any organization they are associated with, including Turbine Capital or Spartan Investment Group.The opinions of our guests are their own and should not be construed as financial advice. This podcast does not offer tax, legal, or investment advice. Listeners are advised to consult with their own legal or financial counsel and to conduct their own due diligence before making any financial decisions.The hosts, Tait Duryea and Ryan Gibson, do not necessarily endorse the views of the guests featured on the podcast, nor have the guests been comprehensively vetted by the hosts.Under no circumstances should any material presented in this podcast be used or considered as an offer to sell, or a solicitation of any offer to buy, an interest in any investment. Any potential offer or solicitation will be made exclusively through a Confidential Private Offering Memorandum related to the specific investment. Access to detailed information about the investments discussed is restricted to individuals who qualify as accredited investors under the Securities Act of 1933, as amended.