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re: Future Tax/Investment Question
Posted on 4/1/14 at 3:43 pm to Teddy Ruxpin
Posted on 4/1/14 at 3:43 pm to Teddy Ruxpin
I'm assuming large student loan debt currently being paid under Income Based schedule?
If so, I'm right there with you and curious how to manage this myself. For now, I am handling my 401k as I might do even without the upcoming tax hit. Paying as much as possible towards loans to get them down as best I can.
If so, I'm right there with you and curious how to manage this myself. For now, I am handling my 401k as I might do even without the upcoming tax hit. Paying as much as possible towards loans to get them down as best I can.
This post was edited on 4/1/14 at 3:46 pm
Posted on 4/1/14 at 3:49 pm to AnonymousTiger
quote:
I'm assuming large student loan debt currently being paid under Income Based schedule?
If so, I'm right there with you and curious how to manage this myself. For now, I am handling my 401k as I might do even without the upcoming tax hit. Paying as much as possible towards loans to get them down as best I ca
Ya, you'd be right. I'm trying to combat this issue as efficiently as possible to make up for the problem.
There's really only two routes, try to pay them off or IBR out to 25 years then pay the tax on the forgiven amount. At a certain point, the latter looks smarter than the former, but I'm trying to get all the info I can since its a unique scenario than what people were seeing 15 years ago when some of these rules became gospel.
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