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re: Need help breaking down a job offer....
Posted on 12/21/15 at 9:46 pm to TigerDeBaiter
Posted on 12/21/15 at 9:46 pm to TigerDeBaiter
quote:
And make sure you max out your Roth IRA and HSA if you have a HDHP to make up for the lack of 401K.
I don't know what any of that means.
Let's say that I still have $15k in student loans (currently paying ~10% interest on) at that point where I'm eligible to get the SEP. Will I be able to take the money that the employer is contributing and pay off the loans? Would it make sense financially with the penalties considered (again, I got the impression that there are no penalties).
1
Posted on 12/21/15 at 10:00 pm to THRILLHO
quote:
I don't know what any of that means.
Roth IRA
HSA
quote:
Let's say that I still have $15k in student loans (currently paying ~10% interest on) at that point where I'm eligible to get the SEP. Will I be able to take the money that the employer is contributing and pay off the loans? Would it make sense financially with the penalties considered (again, I got the impression that there are no penalties).
Damn, that rate is steep
But the amount is very manageable, so its overall good. You should never rob your retirement for such a (relatively) small amount of student debt - even if you could. Just buckle down and knock out that 15k in a couple of years - before you are even qualified for the SEP. Make it a goal, since you wont be contributing to a 401K.
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