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Get Off The Hamster Wheel | Jonathan Backstory | 004

Jonathan shares his origin story from and how he graduated from pharmacy school in 2013 with $168,000 student loan debt and how he payed them off in less than 5 years. That’s serious debt reduction!

Six Figures of Student Loan Debt

‘Followed the rules’ to get his pharmacy degree but came out owing $1,000 per month in interest
You don’t have as much money as you think: the impact of taxes
How many years of work he gave up to pursue advanced degree and then pay down the debt just to get back to $0 net worth
Would there have been a more efficient way to earn a $100k+ income?
How Brad saved 90% of his income the first 2 years living at home and how it set him up for life
Jonathan paid off his $168k of student loan debt in 3.5 years (!)

Use gamification discipline focus and intensity
Track all progress to maintain focus

He looked at every single monthly expense to see if they could save money
They were able to cut their cost of living from $60k per year to $38k per year
Is there a need for an emergency fund?
Differences in financial personality types
When loans are paid off where does he go from here?
Plans for 2017: emergency fund, create blog and podcast, create new streams of income

ChooseFI debt pay down excel file

Click here to watch the  video tutorial to show you how to update and use this tool.


I wanted to be “successful” and I put all my hopes and dreams into being that person
Are you doing it because America and our culture tells you you have to?
Marry someone that is more frugal than you – that’s a great tip!
My goal is to have five passive streams of income moving out of 2017

Choose FI has partnered with CardRatings for our coverage of credit card products. Choose FI and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. American Express is a ChooseFI advertiser. Disclosures.
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