First year attending here. 220k in federal debt at 6.8%. I have saved about $180,000 this year to put toward that debt. I am a 1099 doc with a recently created solo401k.
I have put no money in the 401k for 2021 because I was planning to pay down this student debt, but with the recent interest accrual stoppage pushed back to May1( and lets be honest, its political suicide to become the tax collector for a prior administration's relief plan).
Should I put money into my solo401k and let this repayment moratorium play out? I'm 33 years old and this will be the first retirement money I have had the chance to put aside. I had a plan and feel like the goal line keeps moving. I'd love to hear your thoughts and advice.
Thank you everyone!
I have put no money in the 401k for 2021 because I was planning to pay down this student debt, but with the recent interest accrual stoppage pushed back to May1( and lets be honest, its political suicide to become the tax collector for a prior administration's relief plan).
Should I put money into my solo401k and let this repayment moratorium play out? I'm 33 years old and this will be the first retirement money I have had the chance to put aside. I had a plan and feel like the goal line keeps moving. I'd love to hear your thoughts and advice.
Thank you everyone!
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