Anonymous wrote:Mortgage or student loans? What would you do?
Family still doesn't know l.

Personally, I wouldn't tell anyone beyond immediate family unless you want people asking you for money or expecting you to help them out and getting pissy if you don't.

Student loans - you phase out of interest deductibility around 80K in income

(Things I learned from TurboTax last weekend.)

I guess, doesn't it matter which has a higher interest rate?

Anonymous wrote:Mortgage or student loans? What would you do?
Family still doesn't know l.

1) student loans
2) small splurge
3) emergency fund (6 months)
4) nice chunk into kids college fund
5) small splurge
6) lower mortgage

Do some thinking before you simply decide to pay off debt, any of it. You may, for example, want to invest that in a fund and use the income to either pay off the interest element of the the student debt and/or make an additional interest payment. Presumably, you have already budgeted for the loan payments, and using this found money to pay only the interest effectively converts the debt into interest free debt.

You really need to look at your 5/10 year plan. Kids now or in the future? What do you and your spouse do for a living? Job security? Etc.

While it is tempting to just pay off those loans, there is often good reason to spend other people's money. Especially if the cost of that money is nothing.

Little splurge too!

Wow, congratulations! I would pay off the students loans and maybe pay down the mortgage a bit.

But be sure to reserve some "fun money" too. I would plan a nice getaway vacation to someplace warm. Enjoy!

Student loans. They follow you forever - they're not dischargeable in bankruptcy. Pay them off, and congrats!!

How much do you owe and on what?

Are you a homeless person from Michigan?

500K before or after taxes?

I wouldn't blow all of it, that's for sure. I would pay off half the student loan debt at least.

Student loans.

Student loans

When I trained to be a life insurance agent we learned that paying off your mortgage entirely is often a stupid choice cause it really helps your credit and everything

I dont sell insurance anymore but speaking of that buying life insurance or investing are awesome choices for how to spend whatever is left over from loans.


Congrats!

Actually, can do 75% student loans with 25 % cash student loans.

Mortgage or student loans? What would you do?
Family still doesn't know l.