The best debt is no debt. No guarantees what you are going to make in the stock market.Pay off credit card debt or keep 401k at max?
Pay off credit card debt or keep 401k at max?
That's $650 a year getting thrown away.10k is a lot of debt
That's a lot of weedThat's $650 a year getting thrown away.
Or a couple of cheap ho'sThat's a lot of weed
10k is a lot of debt
6.5% credit card interest is pretty low but I abhor debt so always pay off asap. it will give you peace of mind then you can maximize your retirement accounts. we did that plus paid off house in 17 years instead of 30 and becasue of that was able to retire 4 years earlier at 58 instead of 62.Maybe.
Some of it comes from paying off an auto loan so I could have only liability on an older vehicle. I have no other debt except small mortgage and boat.
With my other job I make enough to pay down the debt just have not been disciplined.
Don't touch the 401k.
Make it your first New Year's resolution to use the income from you "other job" to pay down this debt. You might want to look in to a credit card with a short term 0% transfer offer and then focus on paying it off.
He can cut his contributions to the 401k back a lot without really hurting his long term outlook. He should pay off everything but the mortgage before returning 401k contributions to max.
How can you do 40%?
Never argue with Dave. He is a financial wizard. You wouldn't even believe how much he squirreled away while he was (overpaid) at UPS. Lol.He can cut his contributions to the 401k back a lot without really hurting his long term outlook. He should pay off everything but the mortgage before returning 401k contributions to max.
Dave Ramsey's books are worth the read if you want to tackle debt. My parents were using these methods a long time ago before he wrote about them. Tried and true , a lot of folks who grew up during the 30's depression learned to hate debt and be frugal.He can cut his contributions to the 401k back a lot without really hurting his long term outlook. He should pay off everything but the mortgage before returning 401k contributions to max.
YawnDon't touch the 401k.
Make it your first New Year's resolution to use the income from you "other job" to pay down this debt. You might want to look in to a credit card with a short term 0% transfer offer and then focus on paying it off.