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01-28-2018, 04:50 PM | #1621 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
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Posts: 57,981
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01-28-2018, 04:58 PM | #1622 |
In Search of a Life
Join Date: Jul 2009
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I could deduct the interest but I’m not sure on the new tax bill
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Posts: 82,768
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01-28-2018, 08:34 PM | #1623 |
Supporter
Join Date: Apr 2007
Location: Scott City KS
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Posts: 57,981
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01-28-2018, 08:46 PM | #1624 |
In Search of a Life
Join Date: Jul 2009
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Psychologically, I just hate having that over my head. I work my ass off and it’s just a mental drain to think I’m set up to pay that shit until I’m 46.
I just wanna get out from under it. I’ll deal with retirement later. It may not be the best way to go about it but it just wears on me |
Posts: 82,768
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01-28-2018, 09:09 PM | #1625 | |
Seize life. Be an ermine.
Join Date: Jul 2001
Location: My house
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Posts: 143,103
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01-28-2018, 09:18 PM | #1626 | |
In Search of a Life
Join Date: Jul 2009
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I know I may miss out on some retirement or some investing, but for my mental stability, I just have to get this done ASAP. It wears on me daily. |
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Posts: 82,768
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01-28-2018, 09:36 PM | #1627 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
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My personal philosophy is they’re not collateralized so I work harder on the collateralized loans first. But mine is $240 a month and as cheap interest as my mortgage. |
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Posts: 57,981
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01-28-2018, 09:39 PM | #1628 | |
Veteran
Join Date: Oct 2008
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In the coming 12-18 months I foresee market returns exceeding 10%, so it would be economically smarter to be investing over that period, and revisit your strategy afterwards. Obviously, the emotional aspect of paying off debt is difficult to quantify. But from a numbers perspective it makes more sense to invest right now. But ultimately, it's whatever helps you sleep at night. |
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Posts: 1,606
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01-28-2018, 09:48 PM | #1629 |
In Search of a Life
Join Date: Jul 2009
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Thanks for the advise guys
My issue is just the length of the payout. I feel like I can still be putting into retirement but I’m just feeling like maxing the debt repayment works better mentally for me. Getting those done in that short of time will free up so much capitol I feel the gains I can make then will make up for it |
Posts: 82,768
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01-28-2018, 09:58 PM | #1630 | |
Veteran
Join Date: Oct 2008
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You're asking the right questions. |
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Posts: 1,606
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01-28-2018, 10:06 PM | #1631 | |
In Search of a Life
Join Date: Jul 2009
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My thought process is also that as my practice continues to grow I can hopefully make up for lost investing and retirement. But we shall see Mainly I’m just trying to stick to the plan we set a few years ago when I graduated. Now with this national guard thing opening up its opened a new door to shortening the replay considerably. Of course getting deployed and having to leave my practice would be devastating but it’s a risk I’m looking to take |
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Posts: 82,768
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01-28-2018, 10:17 PM | #1632 | |
Veteran
Join Date: Oct 2008
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Especially when there are so many variables in those last few years of employment-we can't know what the market situation is at that point, and the prudent approach is to shift to a more conservative portfolio to mitigate the possibility of loss of principle. I am amazed almost daily by incredibly highly educated individuals who have too much hubris to consider all the factors involved. |
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Posts: 1,606
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01-28-2018, 10:25 PM | #1633 |
Andy Reid Supporter
Join Date: Apr 2012
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Yeah I’m going in the right direction, I just need to finish off my last bit of student loan debt this summer before I can add more. I really think I should avoid fiddling around with an open investing account and put all of my resources towards my compound interest accounts like the Roth IRA.
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01-28-2018, 10:29 PM | #1634 | |
Kind of a mod
Join Date: Aug 2005
Location: Donkey Land
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01-28-2018, 10:30 PM | #1635 |
Kind of a mod
Join Date: Aug 2005
Location: Donkey Land
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Sure, but be careful with that kind of thinking. You may THINK they'll exceed 10%, but it's never out of the question you could lose money instead. It's worth tempering your expectations either direction rather than just assuming that it'll go the way you believe it will.
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