I’m 26 and having somewhat of a crisis because I aggressively paid about ~60k in student loan debt (45 private with 10% interest, 15 federal but still with 5.5% interest), accrue no rolling CC debt and now working on other financial goals. I have a modest 10k e-fund I’m building and about 23k in retirement accounts. My net worth is around $33k in a HCOL area and a not so high salary.
My friends are cruising on minimum payments on their student loans and rotating debt between one 0% balance card to another and living lives similar to mine except they have far more cash on hand (even though their net worth is negative). I can’t help but feel like a chump for some reason? Why does debt matter if minimum payments are manageable? When one retires wouldn’t they just keep paying the minimum their entire life but have a much larger nest egg?
I mean, it feels good to not be in debt but what other advantages are there?
Submitted April 16, 2020 at 08:11PM by lostgyn56 https://ift.tt/2xsmxk1
