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Re: Pay off Debt and Investing in 401k

(B) Invest just enough in 401k to fully deduct student loan interest and pay extra towards loans How much would being able to deduct the interest actually save you? You need to be careful about doing this since getting the deduction this year might save you some money this year but if this means th...
by Sonfish
Sun Dec 30, 2012 1:16 am
 
Forum: Investing - Help with Personal Investments
Topic: Pay off Debt and Investing in 401k
Replies: 6
Views: 702

Re: Pay off Debt and Investing in 401k

Ok so I plan on increasing my 401k pretax to 12% next year in order to deduct 2500 for student loan interest. I am not fully vested in my 401k until September but I prefer not to take out a loan on my 401k since I have only 15k in it (7500 being my contributions) and could get me in trouble. My car ...
by Sonfish
Sun Dec 30, 2012 1:12 am
 
Forum: Investing - Help with Personal Investments
Topic: Pay off Debt and Investing in 401k
Replies: 6
Views: 702

Pay off Debt and Investing in 401k

So I am trying to figure out what the best strategy is in order to save the most money. I just heard about the 2013 student loan interest deduction which lasts for the first 5 years and has income restrictions. I have been paying for 2 years now. I am starting to phase out making 65k and investing 5...
by Sonfish
Sat Dec 29, 2012 4:48 pm
 
Forum: Investing - Help with Personal Investments
Topic: Pay off Debt and Investing in 401k
Replies: 6
Views: 702

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