According to Debt.org, the American household debt was calculated to be almost $17 trillion in 2022. Almost $2 trillion of this value is designated to be student loans, while approximately $1 trillion is due to credit card debt. Definitely, the accumulation of this debt, both on household and individual levels, can place such an emotional and psychological toll. It seems as if you are sinking in owed money while not being able to successfully swim up into financial freedom. In fact, a 2022 Capital One survey shows that 73% of Americans rank finances as their number-one cause of stress, preceding politics and even family. How can one navigate the foggy road of loan repayment, especially healthcare professionals that are known to accrue six-figure tuition debt? Should one save or pay off their debts first? Which retirement plan should one contribute to?

We are joined today by Dr. Justin Jones, a board-certified pediatrician and pediatric critical care fellow who began his Simple Finance Community online platform to educate healthcare workers regarding money in order to have the tools and information necessary to help attain personal financial goals, with an emphasis on student loan repayment, emergency fund savings, creating budget plans, and retirement investment. We tackle refinancing direct subsidized versus direct unsubsidized versus PLUS loans versus private student loans, Roth IRAs versus Traditional IRAs and 401(k) versus 403(b), navigating compound interest calculations, and scrutinizing the profitability of term and/or whole life insurances and their policies.

Livestream Air Date: September 13, 2022

Dr. Justin Jones: IG @simplefinancecommunity

Friends of Franz: IG @friendsoffranzpod& FB @friendsoffranzpod

Christian Franz (Host): IG @chrsfranz & YT Christian Franz

Thankful to the season's brand partners:Clove, BETR Remedies, Eko, Lumify, RescueMD, Medical School for Kids, Your Skincare Expert, Twrl Milk Tea