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Thanks for starting this!!
Rising Star
Everything's a toy when you're a kitten!
Anyone around Columbus area want to hangout?
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Anyone knows about the base for chase PCA?
I met someone and their son is a director at Morgan Stanley. He told me to give him a call and potential have a talk about working there . How are Morgan Stanley advisors compensated. I ask because I left another firm and they have tried to charge me charge backs on commissions that have come back.
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Pay off that high interest rate loan first before investing
Thank you for your advise :)
Paying your loan “earns” you 11% annualized. That’s about the historical average return for having your money in a s&p500 fund. I’d pay off the loan first with an interest rate that high.
You are right! Thank you for your advise :)
At 11.5% per annum, you're better off paying your loans first.
P.S.: Jesus those are high rates.
I know thank you so much :)
Another alternative is to earn more monies 😵
Either or... You and I should know our income ceiling when it comes to our titles and career paths.
A side hustle would be nice too
Did you really just go on a financial services at to ask for financial advise? And look at all the responses. Wow, smart kid. No wonder why young people think they need financial advisors anymore..
What would you do in my situation? It would be really helpful to get your insights into this
Pay down high interest loan, emergency fund, then invest...that's how I did it.
That's great! Thank you so much :)
Im in the same situation. I been saving /investing because my student loan is only 5%floating I started at 50k now down to 25k and earning 90k a year. Ive been paying the 500$ a month so then I can save the remaining of my money to invest in a pre con's to flip at assignment.
This only works if real estate holds and my other investments earn > 5% floating. Of course I'm not thinking about inflation
I would prioritize:
Loans then emergency savings then investment account. Maybe a 60-30-10 split or just a 60-40 split. Whichever feels more comfortable until you hit your goals. I’d prioritize loans because you can’t escape out of it - interest accrues even when deferred right? By “investment account” I mean a personal brokerage account. I would then build an emergency cushion before “investing” money. I put it in quotes because of how risky the market is. Even professional investors are openly talking about trading this market rather than investing.
60-30-10 or even 60-40 is way too conservative for a 27 year old who even if it takes 2 years to pay off the loans and start investing when he is 29-30 should probably be in an 80-20 portfolio, if more conservative go down to 75-25 or if more aggressive go up to 90-10
Pay off loan as soon as possible. You're essentially guaranteeing an 11% ROI