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Reply to "How should I pay off $300k in student loans?"
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[quote=Anonymous][quote=Anonymous]I would pay the minimum for at least the next year and be extremely frugal with the rest of your money - max out retirement, IRAs, save for a down payment if you're not homeowners yet, build up your emergency fund. If a student loan forgiveness bill gets passed reevaluate - if $50k is forgiven for each of you, pay the rest off aggressively. If it's $10k/each, you might stick with PAYE. But spend this year making sure that you use the discretionary income you're not directing at your loans to improve your bottom line, and get a feel for what your life looks like directing all of your discretionary income at a financial goal instead of having cushion.[/quote] Op here - thanks. We already max out our 401k, and back door ira, we are homeowners and pay mortgage, we have 529s for both kids which we fund each month, and otherwise we put some in a brokerage account. Any thing else I should be doing that I’m not?[/quote]
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