Some useful info. 31yr old make a little over 100k per year. I started late un my 401k so I only have about 50k.
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I have some debt about 30k from student loans, vehicle, some credit cards, misc. I contribute 18% into my 401k or about $250 per week with employer match 4%. My question is I was going to drop down my 18% to 4% to pay off hopefully all of my debt because of the interest rates, some are 15-18% rates (I had bad credit rating when I was younger and made some poor decisions). Would it be more beneficial to do this or just continue 18% into 401k I thought about the X amount of dollars that wouldn't get compounded while I was paying off the debt.
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After I pay off the debt I wanted to purchase a house, I was considering putting down the minimum amount down payment and investing the rest. It seems at the end of my mortgage a minimum down payment wouldnt add to much overall to what I owed and the money would be better off invested. Is this a good strategy?
Thanks!
Submitted December 26, 2020 at 08:16AM by rinkerx https://ift.tt/2Jk8KBK
