The Rate Wealth Podcast

Welcome to the weekly financial update podcast! This week we discuss student loans, mortgages, and stocks.

This podcast episode covers the latest news on student loans and how to get them forgiven. We discuss the new digital signature feature for PSLF recertification, as well as a recent Supreme Court ruling that could allow borrowers to have their loans forgiven if they can prove fraud by their school. Additionally, we explore the fact that while less than one in 10 undergraduates default on their loan payments, only six in 10 actually complete their degree within six years of starting school.

In addition, this week's financial update podcast covers mortgages, with a focus on the new 40-year mortgage approved by FHA. We discuss how 71% of people wouldn't accept a mortgage below 5.5%, and how Fannie Mae now allows real estate agents to use part of their commission for down payments on houses for clients. Finally, we look at how housing is so unaffordable that banks lost money for each mortgage they financed in 2022 according to a report. Tune in to learn more about mortgages!

If you need help with your financial planning, be sure to check out our new financial planning technology at FitBUX.

In this episode, I highlight 2 examples of financial misinformation on the internet. The purpose of highlighting it is to illustrate how the advice seems good but people that follow it put themselves in a horrible situation.

I then go describe how to overcome this misinformation so you can achieve financial freedom.

If you need help with your money, be sure to become a premium member of FitBUX.

Even if you're not a SLP, this episode is still for you!

There's a little bit about business, a little about mindset, and a lot about pivoting when you see a need for change regardless of which profession you're in.

Theresa is a medical speech-language pathologist and Board Certified Specialist in Swallowing and Swallowing Disorders. She previously owned a mobile FEES company that serviced over 100 skilled nursing facilities across 4 states.

Joe and Theresa discuss how Theresa chose SLP as a career, and how she started in the school system, and then transitioning to swallow evaluations. Then pivoting to starting two businesses doing FEES, and eventually selling her business and pivoting again.

Now, Theresa has a thriving blog, podcast, and additional businesses including a non-profit!

Listen in to see how Theresa's story can ignite you to pivot if you so choose!

If you'd like to watch this interview on our FitBUXYouTube channel: click here.

*-* Useful Links *-*

https://theresarichard.com/

The Swallow Your Pride Podcast: https://podcast.theresarichard.com/

Theresa's Instagram: @theresarichardslp; @MedSLP_Collective & @medslped

Theresa's Facebook: https://www.facebook.com/theresa.richard.503

This is part two of our What is money podcast. In part 1 we described what the saying "money is a reflection of past event" means in regards to your income and how you can use this knowledge to your advantage.

In this episode, we talk about using this knowledge to develop tangible financial freedom.

For What is Money? Part 1, click here: https://www.fitbux.com/podcast/what-is-money-part-1/

Financial freedom consists of two parts: Intangible and tangible financial freedom.

Intangible financial freedom is how we mentally think about money.

In this episode, Joe discusses his definition of what money is and how to use this knowledge to improve your tangible financial position.

The concept he shares is this: Money is a reflection of past events. See how this applies to your current income in this episode.

If you want more information on financial freedom, be sure to check out our financial freedom webinar.

If you want financial help and are between the ages of 20 - 40 years old, be sure to check out FitBUX.com

For What is Money? Part 2, click here: https://www.fitbux.com/podcast/what-is-money-part-2/

This is a quick update on the student loan pause lawsuit from SoFi and info on how the SVB closure is going to rattle the markets.

This podcast explores conforming loan limits: the maximum amount of money a lender can lend for mortgages backed by Fannie Mae and Freddie Mac.

We discuss:

• What qualifies as a conforming mortgage limit,
• Types of loans that fall under the loan limit,
• The factors that affect the limit,
• And how to qualify for one.

This episode is a story about how to make good financial decisions. In this particular story, it's about a girl in healthcare who made a good home buying decision.

She has paid off over 6 figures in student loan debt in 7 years, and now her financial focus is shifted towards buying a house. Here comes the dilemna.

They wanted to buy a house, but they wanted to move back to their hometown in 5 years. They didn't want to rent anymore. Makes complete financial sense; However, the problem is ...

Listen to Joe explain what the problem is, and how they came up with the idea that works for them.

This episode details how much you need in an emergency fund and how to invest those funds.

I discuss each of the following:

1. What is an emergency fund?
2. What expenses to include.
3. Two of the biggest factors in determing how much to have
4. How to invest your emergency fund
5. Using a Roth IRA as an emergency fund
6. Reducing your emergency fund to pay off debt faster

If you'd like to read more you can use this link: https://www.fitbux.com/articles/how-much-emergency-fund/

Resources Mentioned In The Podcast:

Emergency Fund AI: https://www.fitbux.com

There is a bit of confusion on how student loan interest works.

In this video I break down how student loan interest works while you are in school, during your grace period, and once you are in repayment.

I also discuss how student loan interest works on subsidized loans as well as for tax deductions.

If you enjoyed this video make sure to like, subscribe, comment and share with your friends! Get more FitBUX content from the links below.

** Resources Mentioned In The Video**

• https://www.youtube.com/watch?v=Rwb8kau0CzQ
• https://www.youtube.com/watch?v=f4CJi1R9-Xw
• https://www.fitbux.com/articles/income-based-repayment/
• https://www.fitbux.com/articles/dave-ramsey-student-loan-repayment/

-*-*- USEFUL LINKS -*-*-

* https://www.fitbux.com

* https://www.fitbux.com/podcast/

* https://www.fitbux.com/student-loan-planner/

-*-*- S O C I A L S -*-*-

• Facebook: @FitBUXFinanceGroup
• Instagram: instagram.com/fitbuxofficial
• LinkedIn: https://www.linkedin.com/company/fitbux