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Posted on 9/9/13 at 8:10 pm to League Champs
I would pay down the debt and get that beast off your back.
Unless the law changes in the future, you can still put into a Roth IRA no matter your income. You just have to do a "backdoor" Roth IRA.
Unless the law changes in the future, you can still put into a Roth IRA no matter your income. You just have to do a "backdoor" Roth IRA.
Posted on 9/10/13 at 10:35 am to League Champs
quote:
Pay down the debt
Yeah - don't leave money on the table - but your APR is pretty much the deal cincher here.
Obviously, Ramsey would say "turn off" your retirement - but I don't think he means to leave money on the table, nor would I follow that part of his advice, anyway. So that's the starting point of the discussion - don't leave free money on the table, and if it makes sense to surge and pay off that almost 10% loan first, then shift back to retirement - do it.
The tax nuances of Roth versus traditional is another discussion, but most younger folks will be better with Roth long-term - admirable though your tweaking of your tax rate might be right now.
This post was edited on 9/10/13 at 10:36 am
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