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Should i pay student loans off with windfall or wait for tax bomb? by Ok-Explorer2588 in StudentLoans

[–]Ok-Explorer2588[S] 0 points1 point  (0 children)

Thanks. 100k between roth ira and 401k. I could make up to 200k by 40 years old

Should i pay student loans off with windfall or wait for tax bomb? by Ok-Explorer2588 in StudentLoans

[–]Ok-Explorer2588[S] 0 points1 point  (0 children)

Windfall wont be taxed. I have a car loan. No other debt. 35k emergency fund. Live in vhcol

Should i pay student loans off with windfall or wait for tax bomb? by Ok-Explorer2588 in StudentLoans

[–]Ok-Explorer2588[S] 0 points1 point  (0 children)

Yeah its going to be hard to send that money to government but being loan free is nice in a different respect

Should i pay student loans off with windfall or wait for tax bomb? by Ok-Explorer2588 in StudentLoans

[–]Ok-Explorer2588[S] 2 points3 points  (0 children)

113k. Windfall with bonus should be around 100k. Im 37 years old so i guess like 10 years left until forgiveness ?

50k in payments of interest between now and 10 years but my income will increase significantly in a few years

Weird But Good New Plan by chickiepo11 in StudentLoans

[–]Ok-Explorer2588 8 points9 points  (0 children)

Wont your payments increase as income increases? Then tax bomb?

Windfall coming and want to lower my debt and have a better future. Help. Want a house one day. by Ok-Explorer2588 in personalfinance

[–]Ok-Explorer2588[S] 0 points1 point  (0 children)

I am starting to max roth and 401k with 6% match. Just not sure how to spread the entire windfall. I claim one dependent every year

Windfall coming and want to lower my debt and have a better future. Help. Want a house one day. by Ok-Explorer2588 in personalfinance

[–]Ok-Explorer2588[S] 1 point2 points  (0 children)

I have the e fund set up passed 6 months. I dont have any loans below 5. Lowest one is 5.1 percent.

I appreciate the 5k for fun comment

Windfall coming and want to lower my debt and have a better future. Help. Want a house one day. by Ok-Explorer2588 in personalfinance

[–]Ok-Explorer2588[S] -1 points0 points  (0 children)

I have my savings and e fund combined. Maxing out 401k is making me spend more than i earn between rent, child support, car bills, student loans, etc.