What to do…. What to do… Alright, my tax returns are coming and I’m getting a pretty penny. My question is this: I have some debt and try to follow Dave Ramsey and pay it off asap. Do I take my returns and use it for debt payoff or do I invest it. I know I’m going to put at least 1k towards school (my school fund is getting low but I think I have enough to make it through). I have about 50 shares of O right now, I don’t think I want to keep on chasing realistate because one of my indexes has a bunch of realistate inside of it but it’s not big on dividends. What would you guys suggest?
Donaldus Maximus: Get debt free. Debt is just another form of slavery and bondage. My thoughts on this don’t come from Dave Ramsey. I often disagree with him.
Bryan Witterholt: School, pay off debt, invest…in that order.
Cody-ash Warnke: We paid the last on our consumer debt. Now if we werent transitioning to an unknown time we would be investing a ton. So debt payoff.
Jay Walrond: Depends on what you’re getting back & what you owe specifically (you don’t have to disclose the exact numbers).
Nandy Colon: Pay debt
Neil Wilson: Pay the Dept
Paul Poirier: Pay off your debt, all the money you save in interest not paid to someone else will be money you keep and use for school or investing later. That’s a win win situation, debt free and more money in your pocket. You will have to pay the debt no matter what so pay the least amount you possible can to get out from under it.
David Martin: Use your refund (tax return is the paperwork you send them) to pay for school, then to pay off debt.Real estate is two words. Definitely pay for school.
Ricky Silver: Pay debt, start with highest rates first.
Ralph Al: Pay dept but invest 10 percent of it because it will feel like you got something back
Jose Garcia: Pay debt Number one rule
Dave Hayden: No question. Pay off the debt. DR rocks!
Justin Bruno: May debt. Your interest rate is likely more than your dividend income
Deuel Stephens: You can split it…. or put in all on debts…. debt interest fights against your investment yield
Jason Norwood: Pay down debt
Robert Bartlett: Pay off debt
Cody Austin: Paying off your debt IS investing… you’re saving yourself a lot of money later on.
Patrik Andersson: Depends on the interest rate on your debt and on its size. How large are your monthly installments and is that something you’re happy with? Can you make a better return on investment by getting stock instead of paying down the debt? These things are not set in stone. Perhaps you’re best off by doing a combo?
Brian Hunter: Debt is guaranteed to be a money loser. Investing is not guaranteed to do anything. Therefore debt takes priority. (And it typically has a higher rate anyways.)The only exception is *very* low interest rate debt. I’m talking less than your wage inflation.
Justin Garcia: Yeah I pretty much agree with everybody. I still want to put some money away but what I think I’m going to do is simply calculate how much the rest of my school will be and make sure that’s good, anything leftover will to to debt.
Raymond Mantz: Stop the bleeding first…pay off debt.
Michael Morse: If you got a job….if your debt free you can save up more faster than you can by taking your time paying off set debt PLUS INTEREST.
Robert Freeman: get out of debt. the best 4 words you can ever do.
AJ Singh: Pay off debt.
Rich Slifka: get out of debt
Anamaria Zabal Litvin: Pay down debt
Jason Twilbeck: Once you pay off debt you can start putting those payments into your portfolio and start getting payed. Just think of it as a see saw one side debt the other investments as debt goes down the other goes up.
Ralph Al: The thing is he might always be in debtSo put 10 percent to invest so you can see your hard work buy something Then the rest pay debt
James Braley: Grow a mustache!www.mrmoneymustache.com
Mr. Money Mustache