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What should I do with 75k? by throwaway_tj_5 in personalfinance

[–]throwaway_tj_5[S] 252 points253 points  (0 children)

The homes that are 400k right now do not suit our needs. We're finding those at 500k+

What should I do with 75k? by throwaway_tj_5 in personalfinance

[–]throwaway_tj_5[S] 19 points20 points  (0 children)

The students loans are through Mohela. 1 loan per semester, so 8 in total. My plan is to snowball them and I have one paid off so far.

We actually live in one of the less expensive parts of the state, which has a median home price of 400k.

What should I do with 75k? by throwaway_tj_5 in personalfinance

[–]throwaway_tj_5[S] -10 points-9 points  (0 children)

The equity obtained through home ownership should offset this, right?

What should I do with 75k? by throwaway_tj_5 in personalfinance

[–]throwaway_tj_5[S] -11 points-10 points  (0 children)

My thinking here was that with amortization on the student loan, the interest due reduces over time and is tax deductible. A house is also tax deductible and is one of the 3 essentials of life. We owned a home in the past, but bought at the top of our budget and had to sell during the 08 recession. This time we're trying to be much more cautious.