Nov 14, 2019
So often, people wonder whether they should pay off a loan or invest their money. Typically, you have heard of a big show personality host say to pay off all debt, its bad, the room is on fire. On the other hand you have also probably heard that well “if I can make more on my money in the stock market or get a match from my employer, it’s like throwing away free money”.
Depending on the person you talk to, the answers are going to vary which isn’t very helpful. Ultimately, only you know which option is best for you and today I am going to lay out some information that will make it easier for you to make a plan and stick to it.
Now, both options are admirable and completely necessary. There is of course the math to consider in this equation but this decision for you is not as black and white at the math that supports it.
Paying off debt helps with reduced stress, lowering your overall risk to changes in our economy and helping you withstand financial emergencies that will arise throughout your life.
On the flip side, investing means your building a reserve tank of funds that can protect you and your family and essentially provide income for you. Maybe the most important factor here is, you are accumulating enough money to retire when and how you want.
So, what should you do? Tune in to find out!