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re: What do I do with my money next?
Posted on 8/22/13 at 5:47 pm to Brian Wilson
Posted on 8/22/13 at 5:47 pm to Brian Wilson
quote:
quote:
Together we have $200,000 in student loan debt but our interest rate in 1.75%.
Geez. Get this paid off asap.
Couldn't disagree more.
You shouldn't rush to pay off a loan that charges less than the rate of inflation. That's wasting money.
ETA: Think of it this way - instead of paying off the loan early, set it aside to help build a practice. You won't get an SBA loan for 1.75%.
This post was edited on 8/22/13 at 5:49 pm
3
Posted on 8/22/13 at 7:05 pm to foshizzle
quote:
Couldn't disagree more. You shouldn't rush to pay off a loan that charges less than the rate of inflation. That's wasting money. ETA: Think of it this way - instead of paying off the loan early, set it aside to help build a practice. You won't get an SBA loan for 1.75%.
Exactly with rates that low your money can be making an Average 10-15% somewhere else, let your money work for you not the other way around.
Posted on 8/23/13 at 8:52 am to foshizzle
quote:quote:
Together we have $200,000 in student loan debt but our interest rate in 1.75%.
quote:
Geez. Get this paid off asap.
Couldn't disagree more.
You shouldn't rush to pay off a loan that charges less than the rate of inflation. That's wasting money.
This. With that low of an interest rate, pay the minimums. I would say just keep putting money towards other investments, whether it be equities or possibly additional real estate. Obviously, I'm not sure what type of medicine your in, but you may want to open you're own practice later and you won't get a loan for that cheap if you need funding. And in the end, if you're really that averse to debt, pay off something with a higher interest rate like a house (but I still wouldn't recommend that if you've got something like a 4.5% rate on your house).
Congrats on making me feel poor too.
Posted on 8/25/13 at 3:12 pm to foshizzle
quote:
Together we have $200,000 in student loan debt but our interest rate in 1.75%. Geez. Get this paid off asap.
quote:. For sure. That's cheap money. Only a Bama or ole piss fan is stupid enough to pay that debt first.
Couldn't disagree more.
This post was edited on 8/25/13 at 3:13 pm
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