Most of us have debt to pay off, but it’s important to be able to get in to the stock market as early as possible. Should you pay off debt or invest first?
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0:00 – Intro
0:16 – Should I pay off all my debt first or invest?
1:00 – The situation: $20k saved, $26k in student loans, $8k owed on car
1:26 – Set up an emergency fund first
1:31 – What if you dump it all in the market?
2:20 – Pay off high interest debt first (greater than 5% APR)
3:57 – Contribute to 401k at work if you get matched for free money
4:24 – Try 50/50: half towards debt and half in the market
5:22 – If you work for yourself, you can look into creating an LLC for additional tax benefits
7:10 – Just sell the car EZ
Investing and trading are two different beasts. Please do your own research and due diligence before buying or selling stocks, options, forex or equities. These are opinions only, please make financial decisions on your own. Personal Finance is important!
#stockmarket #personalfinance #money