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Reply to "Student loan payoff conundrum"
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[quote=Anonymous][quote=Anonymous]I'd do none of those options. I'd cut the loan payments snd bank the difference for emergency savings, baby stuff, and the IRS bill. Once you have that settled, you can up them again. And fix your withholdings so the IRS thing doesn't happen again next year. Also, you don't need to spend $5000 on baby gear right away. Certainly not if you're considering cutting other priorities of saving/debt payments. [/quote] +1 I don't understand why you would sell stock and incur a tax liability to pay off another tax liability when you have the cash readily available. And I agree with PPs comment on the $5,000 price tag on newborn baby items. And, I agree with the other PP - your tax payment was due in April if paying US income taxes. If you haven't paid that yet you will also owe interest and penalties on the $10k. [/quote]
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