Hey guys, I recently graduated and make like 60-70k a year ish. My plan was to fully pay off my 24k student loans because the interest rate was like 7% but its 4.45% so should I invest instead.
I am thinking about leaving 10k in cash and investing the rest, I had 20k in cash before but idk if I should pay it off or invest instead in etfs, I normally just do XEQT and aim for like 2k a month investing.
Pay off student loans at 4.45% interest or invest
byu/VirtualExternal2000 inpersonalfinance
Posted by VirtualExternal2000
2 Comments
That 4.45% student loan is also tax deductible so you get a little upside there by hanging on to it and investing the cash.
Pay off your loans. If any debt you have isn’t good debt (generating you interest or profits), get it off your portfolio as soon as you can. You’re lucky to be paying ~4% on it. Pay it off and start investing