Pay off student loan faster or save $? Maxing 401K, have more than 6 mo living saved. Paying $1,500/mo in stud loan and rqd payment is $350; will be paid off in 2 years if I continue. Thoughts?

like
Posting as :
works at
You are currently posting as works at

Your interest rate is relevant

like

Agreed. Loan interest rate vs savings/investment rate to determine which is better

like

If your focus is maximizing ROI (assuming your loan APR is <5%), pay the monthly minimum and invest the rest in index funds.

like

Just browsing... thanks for this tip

As mentioned, how much a month is going to interest? I’m concerned you’re saving a little too much. 2 years seems like a long time to keep that loan around while you’re allocating your money every which way.

You should be well off with a 6 month emergency fund of your monthly living expenses. I’d pause on the 401K and pay your loan and any other debts off. Until that loan is paid off a part of your check belongs to the loan company. The faster you pay it off, the sooner you have your own money.

Related Posts

What does your benefits package include?

like

Any great personal finance/investment books to read? Or even YouTubers/Podcasters

Really looking into expanding my investment horizons — particularly about learning about how to allocate my investment portfolio. Also, always nice to learn about better ways to save and cutback.

like

When leaving KPMG for another company, what are the payouts, if any? (Unused vacation days, etc) And is a 401k rollover required, or can you stay with Merrill Lynch?

like

I return to work from maternity leave (PwC) next Monday. Am I supposed to contact someone or just login as per usual? I figured someone would contact me to get me back into things. Maybe I think they care too much HA.

like

Getting so over the grind of New York but don’t want to give up the pace of my career. Where should I consider moving (PR necessary, healthcare preferred)

like

Since there is no active lawyer bowl.. any lawyers here practicing healthcare related expertise (eHealth, IP, regulatory, etc… no malpractice)? Particularly from Fasken, BLG, or Osler?

like
like

I’d like some financial input. I have $56k in a high yield savings account. Other than my checking acct (3-4k) and Roth/401k (which goes untouched) it’s basically all the money I have. (Zero debt/loans, no house/car) Should I be doing something else with part of the money? I know nothing about stocks or investing. Any thoughts?

like

Has your firm put any new benefits or programs in place over the past several months that make you feel like they genuinely care for your well-being?

like

Would getting a masters in health administration be worth it in terms of helping me get into healthcare law? I have transactional experience but no health law experience.

What are some benefits of doing a Masters in a more applied subject like data science compared to a more theory one like purely statistics? Considering a quant heavy masters vs functional (M Ed)

like

NYC Freelancers! My Medicaid is ending soon and I need to start making health insurance decisions (lame). My current agency is offering me FT and I’m pretty terrified as I feel like I’m going to sell away my freedom. Their health insurance is pretty good and allows me to put my partner on it. I’m trying to also rationalize paying for my own in NYC but it’s so expensive ($500+/mo). I go to the doctor fairly often. Single NYC freelancers (no kids), what do you pay monthly or yearly? Worth it?

like

Does OFSS pay less compared to other oracle divisions?
What are the benefits in oracle? Can someone please answer

like

I have an offer from Capgemini.
Can anyone help me understand how is the Health Insurance Policy offered by Capgemini?
What is the coverage for immediate family and parents. Thanks in advance!

like

Do you count your pension as part of your net worth?

like

Maxed my 401k with todays paycheck 🏆 a lonnngg way from FIRE but step by step my friends!

likeuplifting

How is Golin Healthcare these days fishies?

like
like

Incoming MBA, I have my tuition paid for and rent covered (I will be an RA). So the only thing I need to pay for is food and entertainment. Do you think 20k is enough to last me through the 2 years? I will make a little money interning in the summer, so that would be a safety valve if I blow through the 20k.

Or… should I take a small loan?

We are a midsized Healthcare provider with around 900 employees. We are in the market for a new HRIS. We want as close to an all in one solution as possible. We currently use a combination if iSolved, iCims, and timestar. Anyone have recommendations?

More Posts

like

My office is in Bellandur, Embassy Tech Village and I will be moving to Bangalore in 1st week of January for the first time. Please suggest me some good societies/areas where I should look for a 1bhk/1rk at a reasonable rent.

like

CD salaries in NY - what’s the range?

likehelpful

French Laundry has its own X7 M50i (check out the subtle decal below the passenger window) ... because nothing gets you ready for amuse bouche like a 523 hp V8 💪

Post Photo
likefunnysmart

What is the best way to tell a company I am dropping out of their interview process? I’ve been interviewing with a company for a while and absolutely love them! But I have just received an offer from my first choice company, but want to do my best to maintain a relationship with the other company. Could I get advice on what to best say?

like

Helo Fishes,

Pls help me get 11 likes start messaging.

Thanks in advance

like
like

Which hospital you are most satisfied with in Dubai?

I tried mediclinic but I feel the doctors are incompetent and just throw a load of meds on you. Saudi German is very good but too crowded!

like

The hangover is real today.

like

Just had a senior associate call me and interrogate me on how exactly my outlook was crashing because he wouldn’t believe me when I said that that was the reason I wasn’t being able to get an email out. It’s these kinds of micro aggressions that make the job so unpleasant.

like

Should I buy a condo/house or continue to rent for a couple more years if mortgage+interest+hoa+property tax will be lower than rent? I'm looking for something small. 2 bed + 1.5 bath min of 1000 sq. I still owe credit card and student loan balance of $80,000.

I’m an AE and my AM is leaving. As we are having no luck getting a new AM. What is an effective way of being promoted to an AM and what is your advice on how to progress and proceed without a current AM in place an in agency setting.

like

When we will get the hikes for the 2021 ratings in cognizant?

like
like

Anyone recently joined KPMG India ? They will send laptop+charger only. No accesories like laptop bag, mouse, earphones etc? And when will we get joining kit?

like

#BlackInNeuro movement pretty neat. Glad to see that happening

like

You are an amazing teacher! Don’t let anyone suggest otherwise.

Post Photo
like

Welcome and thank you for joining this bowl. I'm hoping that this will be a place where fishbow-lers can respectfully share their experiences of toxicity at companies that continue to harbor these little "corporate terrorist". But most importantly, I want people to be heard without being censored, which is what Glassdoor, Indeed and LinkedIn seem to be doing on behalf of some companies.

like

Anyone at Deloitte or EY Canada need a Contract Senior Policy Center Developer? Recruiter at a vendor for both the big 4s here

like

Additional Posts in Personal Investment Chatter

“How much house can I afford” question, input appreciated!

HHI of $105k, living in a HCOL area where a reasonable house for me is going to cost $400-$500k. Obviously that exceeds the rule of 3 (cont)

like

Looking for recommendation - books, blogs, podcasts etc to learn about investment in stocks, bonds, options, commodities etc? TIA!

like

Want to do a sanity check. I’m making $110K and single. Right now max 401K, 50/50 traditional/Roth split. If I know I’ll be in school next year and will only work 6 months next year, should I aim to maximize Roth *next year* ? And therefore, maximize traditional this year? Thoughts? Thansk!

like

Which career pathway to take, if I reside in BC (Canada)
1) Clinical Psychologist
2) RCIC (Immigration Consultant/ Lawyer)

I’m open to pros and cons or any insights if you work in either of those industries?

Thank you in advance ☺️

like

Has anyone invested in real estate using Lofty AI or PocketProperties? It seems like a good way to dip my toes into real estate - the minimum amount is $10-50 and I would benefit from receiving rent payments proportional to ownership and appreciation in value.

like

Is is normal to buy a new car at dealership that other people might have had a test drive on or touched etc? I want a new car that no one test drove and no one touch. Help

funny

VTI, VOO, or VTSAX - which do you all prefer and why?

like

I make $140k in New York. Should I invest a Traditional 401K or a Roth 401K or do a split?

like

Fully aware this is a newbie question. Looking for the best way to get started in purchasing stocks. I used to use E-Trade back in high school like 11 years ago, but stayed away to focus on paying

like

How much do you take home after tax and maxing pre tax 401k while making 144k? Not sure if I'm doing something wrong with my withholding. I'm married filing jointly withholding at a single rate, 1 federal and 1 state. DC location. I'm only taking home $6k a month.

like

Would anyone like to share ways they give back or donate? And at what % of net?

like

How much margin is appropriate/recommended on a percentage of portfolio basis? I used to use about 10% but now that we’re in a bit of a correction it’s closer to 20%. I really want to add to positions on these dips but it would only increase the risk given the margin exposure...

like

If I get a new job in New York but only move in august, would I be able to avoid state income tax for all of 2021 income given I spent over 6 months in Florida ? Have lived in Florida for all of my career thus far.

like

Hey all! I would appreciate some feedback on my investing strategy: I want to buy QQQ3X when QQQ goes below 118$. I believe a major market reversal (a crisis) should take place in late 19 or (cont)

What blogs/books/resources should I seek out if I want to make the transition from passive trading (index funds/buy and hold blue chips) to more active trading (options, speculation, spending a few hours a week researching, etc)? I’m looking to turn my investing into more of a side hustle

like

Moving to Dallas soon. Does it make sense to buy a condo or house even if I dont think I'll stay there for more than 3 years? I have family there that can help me if I decide to leave and rent this property. Any thoughts? Just dont want to keep paying someone else mortgage. Also want to take advantage of low interest rates.

like

About to get a payout from a legal settlement ($300k-$500k). How would you invest it or what would you do with this money if you got a payout like this? My goal is to build exponential wealth, but would love everyone’s thoughts even if it has nothing to do with investing! (I’m 25, not married, no kids, have about $240k in student loans, and no savings)

like

Does Bank of America do a Mega Back door 401K?

like

Can you withdraw money from 401k? What the penalty and how to find out?

like

If our employers are deducting taxes from every paycheck (both wife and I work), why I still need to pay such a large amount when doing our taxes?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal