Pay off Student Loans or Start Investing
Hello Everyone,
First post on BP... super excited!
My Question - Should I continue aggressively paying off student loans or start saving for downpayment?
My Situation - 23 years old... roughly $10k remaining in student loans... otherwise no debt... virtually no savings (all disposable income going toward loan payments)... lease ends in April 2016 at which point I will either continue renting for 1 year or purchase a multi-family property using FHA loan (pre-qualified) and occupy one unit while renting the other.
Thoughts? Feedback? I've received mixed responses from friends and family... Looking for some professional opinions.
Thank you in advance!
-Andrew Abbott
Most Popular Reply
You're young and don't have a lot to lose...I say start investing!! :-)
While I'm not a professional, I wish I would have started sooner. I paid off my student loans in 2 years. Back then, I was following Dave Ramsey's plan. Now, I'm trying to figure out how to save more money for another house! It's addicting once you start!
Goodluck!