Big Income, Big Decisions: Student Loans or Retirement?
3,211
Published 2024-07-17
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All Comments (7)
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I am in the same boat and decided to do both. Max 401k and Roth IRA and 3 month emergency plan. Everything else loans until paid off. Depending on expenses should also be able to save 25%. Savings/ investments will just increase once loans are paid
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At that income they can do both. In the past 10 years since graduating college we paid off my wifes $90k student loan, paid my $194k student loan down to $30k(1 year left!) Bought a house, then bought a bigger house when our 2nd kid was born, had a 3rd kid, socked $1.1m into our 401k. We probably started about $220k income and that has grown to $300k over 10 years. The fact they see this as one or the other tells me they might have some bad spending habits as they should be taking home about $13k a month after tax, health insurance and 401k contributions.
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can you do a vid on max out roth with e fund?
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Wow: she has a mortgage and no house.
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I make 50,000 and am asking the same question 😂 I've decided the loans have a 4.5% interest and I can get more than that investing
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I really like these guys, but this is bad advice and exposes their incentive structure (i.e. getting paid on assets under management). These people have a lot of expenses coming up (having kids, buying a home, etc.) and they should choose freedom. Get rid of the debt first!
