Currently wage cucking at a Fortune 500 company, making about 40k with overtime. Applying for a more legit role of Data Analyst at a big hospital which would probably bump me at least 5-10k.
I'm currently sitting on about $7k with no other debt besides about ~40k in student loans.
Question is, should I focus on paying off my student loan first or should I continue to make payments and invest in something else (Like mutual funds, IRA, something safe, I'm risk averse af). Currently renting but if I got the new job I'd probably buy a house. I live in a ridiculously cheap city.
Halp.
>>1083859
pay off as much of your loan as you can per month, but always be putting something into investments, even if it's only like 5% of your income
do both such that you aren't eating spaghetti-o's for dinner every day
>>1083880
I'm putting about 8% into my 401k which has been making pretty good gains. I try to save at least 10% of my monthly pay because that's about all I can do right now with my current situation. But I'm wondering if I should have other investments right now and if so, which (thinking long term).
>>1083906
What is your student loan intrest?
I had some higher rate loans that I brute force paid, but what k have left is all very low interest so it makes less sense for me to pay them off faster with money I would otherwise invest.
>>1083965
Highest one is 6.75% with about < $1k left
Average I think of all is 6% or so or high 5%, I'd have to look again.
>>1083988
Yeah that is getting up there. Might be worth knocking those off, especially if you are risk adverse and your investment options will likely be of the lower yield variety.
>>1083859
pay off the highest interest ones and the rest just make sure to get a really low monthly. invest as much as you can if you're financially fucked.
>>1083880
>Question is, should I focus on paying off my student loan first or should I continue to make payments and invest in something else (Like mutual funds, IRA, something safe, I'm risk averse af). Currently renting but if I got the new job I'd probably buy a house. I live in a ridiculously cheap city.
>put money in savings
>pay off loans
>dont just eat spaghettie o's
If your a wage cuck its 2 of 3 of those, not all 3
>>1083988
>6% interest
Pay that off as soon as possible. The chances of making more off investments than you will from paying that off are slim and the upside is tiny.
No other debt besides 40k at 6% so no problem every body!
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>>1084224
What's the average rate of return for investments nowadays?
>>1085670
Invest it all into ethereum and you will get 300 ROI in a week.
im also a data analyst at a hospital. i have no degrees and make about 55/yr. but live in the city so im poor.
>>1085670
it depends totally on what particular niche you put your money into.With all the stuff going on with china and the oil wars , nobody really seems to know what's going to happen globally.
My amateur advice; Currently, there's too much risk in anything related to oil. Do your research before you invest anywhere. Read like a madman. Buffet and Graham - the intelligent investor is a fine place to start.
http://www.gurufocus.com/news/225351/how-to-practice-valuation Is a decent read.
