Entrepreneurship Uncensored – The Good, Terrible, and… Bankruptcy?!?

Actually owning a business - The Good, Terrible, and... Bankruptcy???

  Two years ago we pulled the trigger on something crazy… Something that would change the course of our family’s financial future in a significant way – good or bad. My wife and I bought a dental practice on June 30, 2017, and in the time since that purchase we’ve learned, grown, sobbed, soared to new heights, and everything in between. Owning a business isn’t a walk in the park…   This is the story of that journey, probably in it’s best iteration – told nearly entirely through GIFs.    They say a picture’s worth a thousand words. Well, these GIFs are made up of a few pictures each, and there are about 30 of them so – I’ve got about 100,000 words down here. Enjoy the ride!   (Photo courtesy of Justin Montemarano)     Actually owning a business – The Good, Terrible, and… Bankruptcy???   My wife never […]

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When Income Driven Repayment is the Option for You and Why

When Income Driven Repayment is the Option for You and Why

  I remember the months leading up to Monica starting dental school like it was just a few weeks ago. We had textbooks to buy, an apartment to lease, car payments to make, and a class schedule to adjust to. One thing we didn’t have – the money to pay for it all. So when we started looking at the various options and terms surrounding student loans (i.e. federal loans, university loans, private loans, fixed rates, loan forgiveness, income driven repayment, etc.) my head started spinning and I wept for our negative net worth and the mountain of debt we began incurring.   At that point, we had no idea what a ‘reasonable’ interest rate was, the perils or benefits of refinancing our original loans, or how long and to what amplitude these loans would impact our lives.   To say we were overwhelmed was the understatement of the century.  […]

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When Student Loan Refinancing Is Your Best Option – and Why

  Travis from Student Loan Planner is with us today to let us know 5 points in life when student loan refinancing may be your best option.   (Photo courtesy of Al Emmert)     Like many people in the U.S., you might have student loan debt from your time in college. After graduating with the degree of your choice, it’s time to repay your loans and it can be overwhelming.   I can’t blame you for feeling this way — I’ve been in your shoes. It’s not easy to know the right approach to paying off your student loans, and you might not even know you have options beyond a standard repayment plan.   If you’re like Jon and Heather, who have a plan to pay off student loan debt quickly, that’s great! They have an amazing story and were able to knock out tons of student loan debt in a […]

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Are you missing the ‘Golden Era’ for an opportunity to refinance?

Short answer: Current market and personal conditions are leading Monica and me to consider refinancing right now.   Long answer: This decision depends on many variables that are unique to you.   First off, I’ll give you the background of our situation and the reasons for our decision to say ‘yes’ or ‘no’ to refinancing, then I’ll cover the important factors to evaluate when considering a mortgage refinance of your own.   Where we’re at   We bought our house in March of 2015 with an ARM (Adjustable Rate Mortgage). Initially, this option sounded great for where we were financially. The rate was incredibly low, 3.875%, and would remain fixed for 7 years. This would’ve kept us at 3.875% until March 2022, and then we’d have a significantly smaller balance and only 23 years left on the term of the loan.   The downside   That whole “Adjustable Rate” thing had me concerned. […]

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