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Pay off low rate refinanced loans or taxable IRA?

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  • Decapolis
    replied
    If I were a new(I'm assuming you are)attending with a very good income with my only debt being 72k in student loans I would max out pretax retirement options and knock those loans out in a year. Just be done with them and be debt free.

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  • Thedoc2049
    started a topic Pay off low rate refinanced loans or taxable IRA?

    Pay off low rate refinanced loans or taxable IRA?

    Hi,

    I am attending making good income. I have 72,000 student loan debt refinanced at 2.95%. No other debt.

    Question is should I pay off my debt as quickly as possible? Or should I be investing extra income into taxable investment account? 529 for kids?

    I already plan to max out the employer 401k and Roth IRA. Question is what to do with left over income - pay off loans quickly or taxable investment account? My hesitation in paying off the debt quickly is the rate is currently low and may be advantageous to keep this relatively cheap debt around longer.

    Thanks for your advice.
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