solomon
|
Zach, I've done something in my life that has worked great,and affords you an investment option with NO risk! Always pay your credit debt, as soon as you can..7,5% while not a large interest rate, to try and exceed it in the markert, especially at this time, could cost you more than what you wish to acheive.. Here it is,,A traditional IRA. Why? You invest 2 k per year, all at once is best, or if you have to,,in incriments..Go to several banks and get their best rate,on an IRA 18mon or 3yr, depending how good the rate is..Rates are important, but in this instance, not the governing factor..Once the IRA money in invested, the amount put in that year, is a total write off deduction..Meaning, if its2k you write off 2k from your tax return,,and say your tax bracket is 25% that means you''ll receive a $500.00 refund on that 2k investment itself.. Then you can apply that refund, to pay on your student loan.. AND the 2k is still invested for you gaining interest, at the full 2k.. Win Win!! Not a big deal, but with it, you accomplish both of your goals.. But your prime concern should be ending you loans.. Then you can branch into Roth IRA's , stocks, bonds,mutuals ,and whatever..Even if you got 7.5% in the markets, by the time you pay taxes, and brokerage fees, and management costs, Your below the percentage you started with.. Plus you have to make sure you don't LOSE in the markets..Your choice, but this is a success program that lets you do both, with NO risk and a positive result!! Your choice!! And all your IRA monies is NEVER taxed until you withdraw it hopefully in retirement, when your in a very low tax bracket.. There are penalties for early withdraw, however, you just forget about that money, and use it as a retirement funds..Because it grows tax free till you take it out. GREAT DEAL!! Best of Luck! SOLOMON |
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