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Maximizing Your College Savings Plan at Any Stage with Brad Baldridge
In this episode, Avery sits down with Brad Baldridge, a seasoned financial advisor and college planning expert, to discuss the ins and outs of paying for college. Brad shares invaluable advice on how families can tackle the rising costs of higher education, balance retirement savings, and navigate the complexities of college planning—whether you’re just starting or already have teenagers in high school. Don’t miss out on Brad’s actionable tips and insights to help your family save money on college costs!
Avery: Today, we’re diving into personal finance, but specifically focusing on college planning. We have Brad Baldridge with us. He’s got a podcast, a blog, and all these incredible resources to help families navigate the high cost of college.
Brad, a lot of us are thinking about how to get our kids to college. How are we going to pay for that, and how can we pay as little as possible? Without further ado, welcome Brad! How’s it going?
Brad: I’m doing great, Avery! Thanks so much for having me, I’m excited to be here.
Avery: Awesome! Let’s get started by hearing a little bit about you and your background before we dive into all the questions I have about college planning.
Brad: Sure! I’m a financial adviser, and I’ve been doing financial advice since the ’90s. About 15 years ago, I started specializing more and more into college planning because, well, as we all know, college is getting really expensive. It’s become a big challenge for many families.
As I talked about it more, people listened and had more questions. That’s when I realized there are a lot of strategies families can use, but most don’t have the time or inclination to figure it all out on their own.
Avery: That’s a great point. A lot of parents just try to stumble through the process. If you’re a parent of a teenager, you might not approach this the same way you should today, because the game has changed a lot in the last 20 years.
Brad: Exactly. So now, I help families one-on-one. We’ve got courses, free resources, and a newsletter all about college planning. I also work with families who are trying to balance college costs with retirement goals.
Avery: Yeah, it’s such a massive beast. So, you mentioned earlier that there’s a difference between early and late-stage college planning. I’m curious to dive into that.
Brad: Right! I think a lot of people, when they start having kids, think, “I should start saving for college now.” But then life happens—kids, work, and everything else—so by the time they have a teenager, they haven’t planned as well as they could have. There’s definitely a contrast between those early and late stages.
Avery: Absolutely. I’ve got a junior in high school and a sophomore in college, so I’m definitely in that late-stage college planning phase.
Brad: Yep, and when you’re in that phase, it’s all about testing, visits, figuring out the whole process. It’s a lot to navigate, but it’s not too late to make a plan.
