In this enlightening episode of the FitBUX Podcast, we dive into a critical and timely topic that resonates with many high-income earners and married couples—making the right choice between SAVE and PAYE for student loan repayment. With PAYE on the brink of expiration, our host, Joseph Reinke, CFA and founder of FitBUX, sheds light on the nuances and potential pitfalls of these repayment plans through the lens of a real-life case study.
Learn about a common yet crucial misstep many make—directly contributing to a Roth IRA without considering the strategic benefits of a backdoor Roth IRA, especially in the context of changing marital and financial landscapes. Discover how this oversight, combined with the decision to opt for SAVE over PAYE, can have significant financial repercussions.
Joseph expertly navigates the complexities of student loans, income growth, and tax-optimized investing, offering clarity and actionable insights. This episode not only serves as a cautionary tale but also as a guide to informed decision-making and strategic planning for anyone on the path to financial freedom and PSLF.
Whether you're a recent graduate, a resident, or a seasoned professional, this episode is packed with valuable lessons on navigating student loans, investment strategies, and the importance of making informed financial decisions. Join us on the FitBUX Podcast as we transform financial planning from a journey of individual challenge to one of collective triumph, emphasizing simplicity, trust, and community every step of the way.