Invest in Roth IRA or Save For B-School?
Hi, I'm 28 years old and keep reading about how I should have maxed out my Roth IRA(put in $5k a year). However, I may apply to business school(which costs ~160k not adjusted for inflation) in 2 or 3 years. Should I bother putting money into a Roth IRA or just save up for business school? I have already maxed my company match for the 401k. Thanks in advance.
You can borrow for school, but you can't borrow for retirement.
Thanks for the reply. Do the loans for business school work the same as for undergrad, you have a subsidized stafford loan which doesn't accrue interest until after graduation+6 month grace period? What is the interest rate after the grace period?
Put the money in a Roth. Education expenses are a qualifying exemption for withdrawing the money without penalty. If you need the money, it's there, if not, you have some retirement money when you graduate!
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