Pay off debt slowly or retire early?
I am coming into a lump sum of money, and have been wondering if its smarter to pay off all debts I have now or invest the money and pay debt off later when my investment is enough to retire on.
Public Comments
- Pay off the debt first. You'll come out ahead because the interest on the debt is going to be higher that your investment interest, which will vary from year to year. You can also lose all of your money in the investments and not have anything left over for the debts. Pay off the debt and be done with it.
- You do not need any big debts when you retire. Get rid of the debt because it will cost you more.
- you can never make more on investment money that what is charged on loans!!! pay off the debt== you need to be debt free when you retire!!!
