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Reply to "Paying off students loans and savings question"
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[quote=Anonymous]I think you have enough savings for your car and emergencies and should fund other priorities. Are you saving for retirement? Does your employer match any savings? What's the interest rate on the Student Loans? Great advice with explanations to be found here: https://forum.mrmoneymustache.com/investor-alley/investment-order/ [quote] 0. Establish an emergency fund to your satisfaction 1. Contribute to your 401k up to any company match 2. Pay off any debts with interest rates ~5% or more above the 10-year Treasury note yield. 3. Max HSA 4. Max Traditional IRA or Roth (or backdoor Roth) based on income level 5. Max 401k (if 401k fees are lower than available in an IRA, or if you need the 401k deduction to be eligible for a tIRA deduction, swap #4 and #5) 6. Fund a mega backdoor Roth if applicable. 7. Pay off any debts with interest rates ~3% or more above the 10-year Treasury note yield. 8. Invest in a taxable account and/or fund a 529 with any extra. [/quote][/quote]
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