<description>&lt;p&gt;You've heard of HENRYs, high earners who are not rich yet. But what if you're a high earner with six figures in student loan debt on top of it? That's a SHENRY, and the path to wealth looks different when a 401(k), a 457, an HSA, and a $300,000 loan balance are all competing for the same paycheck. &lt;/p&gt;&lt;p&gt;We walk through the five moves SHENRYs can make to accelerate wealth growth, from maximizing tax-advantaged accounts to using income-driven repayment as a cash flow tool to getting more out of the degree you already paid for.&lt;/p&gt;&lt;p&gt;&lt;strong&gt;Key moments:&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;(07:24) Wealth move 1: Max out tax-advantaged accounts&lt;/p&gt;&lt;p&gt;(08:03) Wealth move 2: Weaponize income-driven repayment&lt;/p&gt;&lt;p&gt;(09:09) Wealth move 3: Open a brokerage account early&lt;/p&gt;&lt;p&gt;(11:12) Wealth move 4: Use professional loan programs to optimize housing moves&lt;/p&gt;&lt;p&gt;(14:25) Wealth move 5: Two ways to maximize the value of your degree&lt;/p&gt;&lt;p&gt;&lt;strong&gt;Like the show? &lt;/strong&gt;There are several ways you can help!&lt;/p&gt;&lt;ul&gt;&lt;li&gt;Follow on &lt;a href="https://itunes.apple.com/us/podcast/student-loan-planner/id1446453497?mt=2&amp;amp;ls=1" rel="noopener noreferrer" target="_blank"&gt;Apple Podcasts&lt;/a&gt;, &lt;a href="https://open.spotify.com/show/6w2qdUPNMEFYr0JzGXNgT1" rel="noopener noreferrer" target="_blank"&gt;Spotify&lt;/a&gt; or &lt;a href="https://music.amazon.com/podcasts/d675bc81-d6f6-4d5a-b354-864b5008fed7/student-loan-planner" rel="noopener noreferrer" target="_blank"&gt;Amazon Music&lt;/a&gt;&lt;/li&gt;&lt;li&gt;Leave an honest review on &lt;a href="https://itunes.apple.com/us/podcast/student-loan-planner/id1446453497?mt=2&amp;amp;ls=1" rel="noopener noreferrer" target="_blank"&gt;Apple Podcasts&lt;/a&gt;&lt;/li&gt;&lt;li&gt;Subscribe to the &lt;a href="https://www.studentloanplanner.com/podcast-landing/" rel="noopener noreferrer" target="_blank"&gt;newsletter&lt;/a&gt;&lt;/li&gt;&lt;li&gt;Join &lt;a href="https://www.studentloanplanner.com/insider" rel="noopener noreferrer" target="_blank"&gt;SLP Insiders&lt;/a&gt; for student loan loopholes, SLP app and member community&lt;/li&gt;&lt;/ul&gt;&lt;br/&gt;&lt;p&gt;&lt;strong&gt;Feeling helpless &lt;/strong&gt;when it comes to your student loans?&lt;/p&gt;&lt;ul&gt;&lt;li&gt;Try our &lt;a href="https://www.studentloanplanner.com/free-student-loan-calculator/" rel="noopener noreferrer" target="_blank"&gt;free student loan calculator&lt;/a&gt;&lt;/li&gt;&lt;li&gt;Check out our &lt;a href="https://www.studentloanplanner.com/refinance-student-loans/" rel="noopener noreferrer" target="_blank"&gt;refinancing bonuses&lt;/a&gt; we negotiated&lt;/li&gt;&lt;li&gt;Book your &lt;a href="https://www.studentloanplanner.com/hire-student-loan-help/" rel="noopener noreferrer" target="_blank"&gt;custom student loan plan&lt;/a&gt;&lt;/li&gt;&lt;li&gt;Get profession-specific &lt;a href="https://slpwealth.com/" rel="noopener noreferrer" target="_blank"&gt;financial planning&lt;/a&gt;&lt;/li&gt;&lt;/ul&gt;&lt;br/&gt;&lt;p&gt;Do you have a &lt;strong&gt;question&lt;/strong&gt; about student loans?&lt;strong&gt; &lt;a href="http://studentloanplanner.com/voicemail" rel="noopener noreferrer" target="_blank"&gt;Leave us a voicemail here&lt;/a&gt;&lt;/strong&gt; or email us at &lt;a href="mailto:help@studentloanplanner.com" rel="noopener noreferrer" target="_blank"&gt;help@studentloanplanner.com&lt;/a&gt; and we might feature it in an upcoming show!&lt;/p&gt;&lt;p&gt;Mentioned in this episode:&lt;/p&gt;&lt;p&gt;&lt;strong&gt;The SLP YouTube Channel&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;If you're more of a visual learner or you like seeing charts, breakdowns, and exploring other topics, check out https://youtube.com/studentloanplanner&lt;/p&gt;&lt;p&gt;&lt;strong&gt;Tips I Can't Share Publicly&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;Getting our free newsletter? Upgrade your experience and discover student loan loopholes so good, they might get repealed if I talk about them publicly. Find out my very best thought leadership that I really just can't be open about anymore, unfortunately. If you want to get our very best tips, not just the ones that I can share for free. Go to studentloanplanner.com/insider to get a special discount for your year membership. &lt;/p&gt;</description>

Student Loan Planner

Travis Hornsby

Are you a "SHENRY"?

JUN 23, 202622 MIN
Student Loan Planner

Are you a "SHENRY"?

JUN 23, 202622 MIN

Description

You've heard of HENRYs, high earners who are not rich yet. But what if you're a high earner with six figures in student loan debt on top of it? That's a SHENRY, and the path to wealth looks different when a 401(k), a 457, an HSA, and a $300,000 loan balance are all competing for the same paycheck. We walk through the five moves SHENRYs can make to accelerate wealth growth, from maximizing tax-advantaged accounts to using income-driven repayment as a cash flow tool to getting more out of the degree you already paid for.Key moments:(07:24) Wealth move 1: Max out tax-advantaged accounts(08:03) Wealth move 2: Weaponize income-driven repayment(09:09) Wealth move 3: Open a brokerage account early(11:12) Wealth move 4: Use professional loan programs to optimize housing moves(14:25) Wealth move 5: Two ways to maximize the value of your degreeLike the show? There are several ways you can help!Follow on Apple Podcasts, Spotify or Amazon MusicLeave an honest review on Apple PodcastsSubscribe to the newsletterJoin SLP Insiders for student loan loopholes, SLP app and member communityFeeling helpless when it comes to your student loans?Try our free student loan calculatorCheck out our refinancing bonuses we negotiatedBook your custom student loan planGet profession-specific financial planningDo you have a question about student loans? Leave us a voicemail here or email us at [email protected] and we might feature it in an upcoming show!Mentioned in this episode:The SLP YouTube ChannelIf you're more of a visual learner or you like seeing charts, breakdowns, and exploring other topics, check out https://youtube.com/studentloanplannerTips I Can't Share PubliclyGetting our free newsletter? Upgrade your experience and discover student loan loopholes so good, they might get repealed if I talk about them publicly. Find out my very best thought leadership that I really just can't be open about anymore, unfortunately. If you want to get our very best tips, not just the ones that I can share for free. Go to studentloanplanner.com/insider to get a special discount for your year membership.