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re: What would the MT board do ? Regarding condo sale and student loan balance
Posted on 2/7/24 at 12:35 pm to Lawyered
Posted on 2/7/24 at 12:35 pm to Lawyered
I wouldnt rush to pay off 4.24% loan.
I would use the proceeds to increase retirement contributions including maxing Roth IRAs. 5% contributions to 401k arent going to cut it especially given you're no longer accumulating home equity.
You could max IRAs for 2023&2024 and put remainder in HYSA. Increase 401k contributions and use the HYSA to offset reduced take home pay.
If HSA eligible max that first and get it invested for triple tax advantaged growth.
I would use the proceeds to increase retirement contributions including maxing Roth IRAs. 5% contributions to 401k arent going to cut it especially given you're no longer accumulating home equity.
You could max IRAs for 2023&2024 and put remainder in HYSA. Increase 401k contributions and use the HYSA to offset reduced take home pay.
If HSA eligible max that first and get it invested for triple tax advantaged growth.
1
Posted on 2/7/24 at 1:08 pm to TorchtheFlyingTiger
quote:
I wouldnt rush to pay off 4.24% loan.
This is where I am.
I would invest the proceeds from the sale.
That's a cheap rate in today's world.
I had a 2.2% student loan rate and I took every month they gave me to pay it off.
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