Personal Finance Strategy with Large Student Debt
First year at a decent group, I expect my total comp to be 135-160. With living at home, I’m able to save a lot of money and have paid down 10k-15k of my 6 figure student loan debt, but am starting to just hold cash.
My mandatory payment is around 1,000-1500 a month, and with no rent or housing, I have a lot of cash left over, if I choose to stay in cash or invest. Even if Biden eliminates $50k of debt, that doesn’t move the needle a ton for me, I’ll still be just under $100k in debt.
Just sticking with Dave Ramsey, I should pay off everything as soon as possible and then invest heavily, but that is his advice for everyone. As a financial professional, I would like to think I should try to invest (or save money to invest) as I actually understand markets way more than the average person. With rates so low (refinanced 3.5%), does it make sense to pay down as aggressively as possible and not have an answer when buyside interviews ask “what do you invest in?”
appreciate anyone’s thoughts or personal experience.
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