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re: Pay Extra on Student Loan vs Invest?
Posted on 2/13/24 at 10:44 am to Roux57
Posted on 2/13/24 at 10:44 am to Roux57
What are you contributing to retirement plans? Taking full advantage of any match? Roth IRAs?
I'd prioritize maxing tax advantaged investment accounts before paying off relatively low interest loans. I once paid a 5.5% mortgage early and looking back missed out on tons of stock market gains.
If you're fully investing in retirement, HSAs etc. then I'd consider paying off those loans before taxable brokerage but it would be more psychological not math.
If you're not realistically going to invest the difference then go for the loan payoff. Best of intentions are often overcome by lifestyle/spending creep unless you have very intentional goals and discipline in place.
I'd prioritize maxing tax advantaged investment accounts before paying off relatively low interest loans. I once paid a 5.5% mortgage early and looking back missed out on tons of stock market gains.
If you're fully investing in retirement, HSAs etc. then I'd consider paying off those loans before taxable brokerage but it would be more psychological not math.
If you're not realistically going to invest the difference then go for the loan payoff. Best of intentions are often overcome by lifestyle/spending creep unless you have very intentional goals and discipline in place.
This post was edited on 3/20/24 at 4:24 pm
1
Posted on 2/13/24 at 11:41 am to TorchtheFlyingTiger
Fully maxing both Roths this year, have some going to an HSA + company contribution into HSA (I just started putting towards this past open enrollment) and I've been getting company match + some, totaling 10% into 1 401k account for the last 4-ish years.
This post was edited on 2/13/24 at 11:42 am
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