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How much $ do you have in your 401k?
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Correct font and company!
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Chief
YES. Only contribute to 401k up to employer match. Everything else should go to the loans. The only way those loans go away is if you die. If you lose your job, get in a car accident and lose your legs, can’t work...you still owe those loans. And the loan servicers have the legal authority to garnish any wages AND social security payments to collect what is theirs. You cannot get rid of them in bankruptcy like all other debt.
Conversation Starter
Positive. I'm at West Monroe Partners. They cap it at 6% of your total salary
Target maximum cash savings for now. If this blows over, then pay down debt.
What rate are your loans at?
Conversation Starter
You're correct in your description of my employer match. I will continue to contribute the 10% as I think there's a ton to gain when the market rebounds.
This flow chart is pretty good when it comes to where to put your money
Thanks!!!
Let me guess. U work at deloitte nyc office
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I do not. If I did, my salary would likely be a bit higher haha