Podcast: Taming your student loan debt after physical therapy school
Friday, February 28, 2020
Joseph Reinke got his start working in investments. During the run-up to the mortgage market meltdown, he noticed that most of the professionals in the field didn’t understand the basics. Consequently, they would take truly absurd risks.
He also noticed a segmentation problem in the financial arena that makes it hard for average Americans to get the help they need in order to make good money-related decisions. He saw young people graduating with student loan debt that equals, on average, twice what they can expect to gross in a full year of work.
This bleak situation inspired him to start FitBUX, a company that provides educational resources, tools, and personal coaching to help graduates take control of the student loan debt that threatens their dreams for the future. In this interview, Reinke explains how FitBUX combines individualized financial analysis with wise strategies to help people find the best approach to manage their student loan debt and reach their goals.
More specifically, we discuss these student loan debt topics with Joseph Reinke of FitBUX:
- Why financial planners aren’t really inclined to understand debt and are unable to offer guidance in this area.
- The three key components that contribute to an individual’s long-term financial potential.
- Why assessing the value of your intangible assets when planning your financial decisions will keep you from getting in over your head or holding yourself back unnecessarily.
- How FitBUX gathers enough information from you in 3-5 minutes to help you make the best decisions regarding your student loans.
- The summary score FitBUX provides that lets you continuously monitor your financial situation with ongoing, real-time feedback at a glance so you can course-correct as needed.
- Why prioritizing your financial goals improves your odds of success.
- The behavioral indicators that can help build a highly accurate picture of the statistically probably financial outcomes for an individual.
- Why it’s important to focus on percentage-based budgeting to be sure your efforts have a noticeable impact on your student loan debt.
- How a percent-based financial plan reduces the volume of time and energy you’ll spend worrying about financial security, so you can focus on building a life you love.
- How surrounding yourself with people who will support your financial goals dramatically increases your likelihood of reaching them.
- What you need to know about the two different forms of student loan forgiveness plans so you won’t make expensive mistakes.
- Why it’s critical you understand how student loan debt forgiveness will affect your taxable income, so you don’t end up with a large tax bill when your balance is finally forgiven.
- Why most people don’t qualify for public service loan forgiveness and the common mistakes to watch out for if you sign up for that program.
Resources mentioned in this episode:
- Best exercises for gluteus medius strengthening
- Pectoralis minor: Far from a minor problem
- The importance of hip internal rotation
- 10 negative employee behaviors that undermine success
- The importance of guided practice in the classroom
- The top 5 exercises you should be doing
- Grouping students: Heterogeneous, homogeneous and random structures
- ELL reading development: Modified guided reading, interventions, support
- Chief Elusive Officer: 21% of non-managers have never met their CEO
- How to plan for recovery
- Are combat-accurate groups good enough? Probably not
- How COVID-19 affects the school lunch program
- Reform paves path for emergency mass prisoner release
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