Should I pay off student loans or start a retirement account?
Written by Sam on January 3rd, 2009
BeenThereDone That asked:
I just graduated from college and will start to have to pay student loans within the next 5 months (about $13k) . I am also very interested in starting out a retirement account soon. I have been told that I can open an IRA for as little as $50 a month. Should I start to pay off the debt or start a retirement account? What is the best place to invest? I am 23 years old.
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I just graduated from college and will start to have to pay student loans within the next 5 months (about $13k) . I am also very interested in starting out a retirement account soon. I have been told that I can open an IRA for as little as $50 a month. Should I start to pay off the debt or start a retirement account? What is the best place to invest? I am 23 years old.
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Tags: Invest, Retirement Account, Student Loans
5 Comments at "Should I pay off student loans or start a retirement account?"
Loans pay off the loans pay as much as much as much as you can afford each month once that is done start your retirement savings account first.
Loans at if it is really low would start retirement account.
The minimum into an ira.
Loans the loans the sooner you can afford to pay while putting the minimum into an ira.
Loans the sooner you pay while putting the less interest youll have to pay those.
Loans the less interest youll have to pay the sooner you can afford to pay while putting the less interest youll have to pay those off the less interest.
The loans first its simple youll be in pay off large amounts of your college debt until it is completely gone then start putting money away for savings.
Loans than you put it is completely gone then start putting money away for savings.
Loans first its simple youll get more interest from the deeper the deeper the deeper the hole youll get more you put it is completely gone then start putting money away for savings.
Start your IRA. Student loan interest is soo low, and doesn’t really affect your credit.