Search found 4 matches

by BogleCPA
Mon Jun 19, 2017 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Mid/Late 20's - Student Loan Paydown vs Saving for Retirement
Replies: 10
Views: 893

Re: Mid/Late 20's - Student Loan Paydown vs Saving for Retirement

I would pay off the two $2k student loans first - math aside, really no reason to have these low balances when you have 35k in savings. kid(s) in future? If so, I wouldn't go too crazy depleting that 35k in savings. Sometimes putting 5k blocks on debt helps to minimize the shock of a lower savings ...
by BogleCPA
Mon Jun 19, 2017 11:58 am
Forum: Personal Finance (Not Investing)
Topic: Mid/Late 20's - Student Loan Paydown vs Saving for Retirement
Replies: 10
Views: 893

Re: Mid/Late 20's - Student Loan Paydown vs Saving for Retirement

3. Deplete your emergency fund enough to max out 2 Roth IRAs for 2017 (you have until April 2018 to do this so put it on the backburner for now if you want - but do it). Roth contributions can be taken out tax and penalty free so it can operate as an emergency fund. You can even keep the funds in a...
by BogleCPA
Mon Jun 19, 2017 11:50 am
Forum: Personal Finance (Not Investing)
Topic: Mid/Late 20's - Student Loan Paydown vs Saving for Retirement
Replies: 10
Views: 893

Re: Mid/Late 20's - Student Loan Paydown vs Saving for Retirement

Why do you need a 35k emergency fund? How much are your monthly expenses? Unless you're living way above your means, 15k is plenty for an emergency fund at this stage. If I were you, I would start dumping as much money as possible into your 6.8% student loans and get rid of them asap. While you're ...
by BogleCPA
Mon Jun 19, 2017 11:00 am
Forum: Personal Finance (Not Investing)
Topic: Mid/Late 20's - Student Loan Paydown vs Saving for Retirement
Replies: 10
Views: 893

Mid/Late 20's - Student Loan Paydown vs Saving for Retirement

Hi everyone, New to the forum, just wanted to reach out to get some quick advice. My question centers around my student loans, and my attempt to weigh paying off my student loans quickly against ramping up my retirement. My wife and I are recently married and just bought our first home, so I feel li...

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