/biz/ - Business & Finance

>>1983132

1800/mo in student loans...you have to be retarded to pay this shit, it's an unsecured loan literally nothing happens if you don't pay back

>>1983139
Been there before. It hits my credit score and I'm pretty sure I could lose my professional license. I don't usually come here, is this board just get-rich-quick schemes and bitcoins, or actual adults? It seemed like a mix.

>>1983159

can't give advice to a cuck

>>1983132
take the 20k and pay the 95k debt in whole

>>1983171
Huh? Over time, or are you memeing some "dump $20k in bitcoin and be rich right away" joke?

>>1983132
Keep around about 3 months salary in savings. Use the rest to pay down debt. When you finish that contribute to your 401K anyway. Who gives a fuck about the match? It's even odds that you wouldn't be in a single job long enough for it to vest anyway, it's money you deduct from your taxable income and that earns interest tax free. Unless you're on the Ernest Hemingway retirement plan, you should contribute (ideally 18K per year since you're already in your 30s.)

>>1983132
Payment on student loan interest is tax deductable, I hope you're aware of that

>>1983198
Interest is only like $9k over 5 years. That's barely anything to my 200k salary. That's why I have $20k liquid right now, basically 2/3 to

>>1983192
>Keep around about 3 months salary in savings
this

>>1983139
>literally nothing happens
you mean your credit goes to absolute shit and any employer who runs a background check on you (that includes a credit check these days) will rescind their job offer immediately

good luck securing a mortgage or driving anything that's not a 20 year old used honda

Contribute to your 401K ... its the money you won't gamble ... and it will be there for the long term ... max it out ... thank me later.

>>1983214

>he's not frugal
>he's a wagecuck
>he fell for the house ownership meme

no wonder you have 100k+ student loans fag

>>1983240
That's not me. I am a wagecuck. I spent $100k for a $200k/yr job and have saved half my salary since getting it. Cry more.

>>1983205
>200K
In that case contribute to your 401K first then pay down debt with remainder. You can only contribute 1500 per month of your pretax income anyway, which will be like 1000 per month out of your take home. Not all that much percentage-wise.

>>1983242
what's your job?

I'm getting a master's in mechanical engineering and will be graduating with about 20-30k in debt

>>1983240
except a salary != wage, you fucking moron

>>1983244
I suspected that's the right move. Just put the remaining $4k/mo into the loans then? Since interest is only 3.375% i.e. $9k over 5 years, there's nothing better I should be doing with it?

>>1983254
Attorney

>>1983261
did you go to a tier 1 law school

>>1983263
As in T14? No but close.

>>1983242

>OP claims 20k saved
>claims to make 200k
>claims he saved half his salary

you're full of shit you whiny little fag

>>1983254

you must be from india or mongolia or some shit stain country

wage is the literal definition of salary

>>1983265
Why? $120k after tax, $10k/mo, spend 5k on loans, rent, spending. Save $5k. Started Sept -- had some cc debt too but that was paid off and my current pattern started this calendar year.

>>1983268
Wage is usually meant to refer to hourly pay rather than salary.

>>1983268
yeah you must have never held a salaried, professional job in your entire life

>>1983273

too busy running a business and being a boss while you have to wake up at 7 am and commute to suck your bosses dick wagecuckie

>>1983277
Tell me more about that. I wouldn't mind doing it after a few years of cucking/saving. Do you have special skills or just running the business?

>>1983261
I mean, you can invest in some index funds on the stock market and have an expected return close to 8%, but I wouldn't recommend it only because the risk of a stock market crash is correlated with the risk of you losing your job.

>>1983277
>engineer
>sucking boss's dick

how are those 90 hour work weeks at your dildo shop treating you, faggot? got an obamacare bronze plan?

>>1983132
PAY DEBTS! Then buy a house.

>>1983294
Use savings to do so. Then save more.

>>1983297
Isn't housing going to crash soon again?

bump

You can get better long term return by investing in global, diversified index funds than the interest you pay on your student loan.

Like Buffett says: 90% passive index funds, 10% gov bonds. DCA until you retire, reinvest yields.

The stupidest thing to do is trying beat the market or invest in somebody trying to beat the market. Actually the latter is stupider as atleast you save fees if you do the stupid shit yourself. If you insist on stockpicking, use no more than 10-20% and do not trade actively or buy on margin. Ever.

Also unlike many claim, just buying sp500 is not adequate diversification.

>>1983674
>just buying sp500 is not adequate diversification.

So what is?

>>1984275
Bump

>>1983132
https://www.youtube.com/watch?v=KDNIiKUAEJQ


Invest in working class cryptography

take 3k a month and gamble them on options with KNOWLEDGE

>>1983674

Lol. I like how you quote Buffett, but then bash the S&P 500.

Buffett actually says 90% in an S&P500 fund and 10% in gov bonds. So you saying that the S&P is not adequate diversification is laughable and shows how little you know about the man you quoted.

>>1983132
>What should I be doing with my money?

Putting it all in POSW

Not memeing

Hey, look at me Anon! I'm going to give you a couple reading suggestions based on my prior experiences;

>Ben Graham's "The Intelligent Investor"
>"Security Analysis" by the same guy
>Jason Zweig's "The Little Book of Safe Money"

For a guy like you, I supremely suggest getting a mutual fund with your local stock broker, and taking care to invest your savings with them. A "Mutual Fund" is an account that you will not directly manage, but you will have several knowledgeable people managing this for you.

Read those books I listed off the top of my head as well as others, they'll really help.

I hope I was helpful!
*poof*

Thanks for responses. So sounds like I should save 3 mos salary, then just not off loans at the required $1800/mo, put $1.5k/mo into 401k, $3k into S&P or a mutual fund, and $500/mo into crypto currency. Is that on point?

What about a house? Stupid to buy? Rent is $1800, work in expensive metro. Worth buying house or condo? Do I need $100k down?

>>1985641
Hey Anon! Look at me!
I think getting a house at a younger age really helps as the value would appreciate over a number of years. Renting is more convenient for a person ultimately interested in pursuing an urban lifestyle or really isn't able to part with the initial capital necessary to make a down payment/subsequent payments for a house. Ultimately, it's what you got at the end of the day that determines your flexibility to make such conscious decisions.

This should be able to help you with your decisions for home ownership,
>http://www.investopedia.com/articles/mortgages-real-estate/08/home-ownership.asp

Hope it helps!
*poof*

>>1984275
>>>1982650

Last bump.