06.11.2008
My student loans were locked in at about 3%, but I don’t think rates that good are available today. I assume a 10% return on my retirement savings, so even if you are paying 5% on your student loans and earning 10% (or even 6%) you still come out ahead. Mathematically, this seems to be the much stronger answer. However, Dave Ramsey’s method -based on our behaviors rather than math, would eliminate any and all debts before investing for retirement.
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05.20.2008
“Make it a habit to have more money coming in than going out. You may need to drive the clunker a bit longer or postpone that trip to Europe.” Good advice. It is the simple 3rd grade math problem that is the ONLY way to wealth. If you can start the habit now, you will be in great shape for the rest of your life. If you don’t, you will have to face the music sometime and the longer you wait the more difficult it becomes.
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