- Joined
- Apr 6, 2007
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This guy is the shiz-nit and a fudiciary whose interest are soley alignesd with our best interest. So, basically, what he says is scripture to us. My wife's very modest loans alone are aleady preventing us from paying off a car loan early and beating the interest rate AND in investing in some index funds (in addition to 401k) and a Roth IRA that can/will be used to fund my sons high school and college. This is just an FYI post for us on this board, as well as anyone thinking about forking over massive sums for a degree.
To paraphase him, when contemplating any educational endevaor, the decision is made if the education benefits you in some tangible (primarily monetary, but there are others) way after subtracting for the full cost. The personal glory of obtaining "insert degree here" fades rapidly compared to the debt load that can not be used to match 401K, pay off a car loans faster, put in a Roth, save for retirement. ALWAYS THINK ABOUT THE POWER OF COMPOUND INTEREST. IF YOU ARE USING IT TO PAY DEBTS, YOU ARE SHOOTING YOURSELF IN THE FOOT WITH EVERY PAYCHECK
To paraphase him, when contemplating any educational endevaor, the decision is made if the education benefits you in some tangible (primarily monetary, but there are others) way after subtracting for the full cost. The personal glory of obtaining "insert degree here" fades rapidly compared to the debt load that can not be used to match 401K, pay off a car loans faster, put in a Roth, save for retirement. ALWAYS THINK ABOUT THE POWER OF COMPOUND INTEREST. IF YOU ARE USING IT TO PAY DEBTS, YOU ARE SHOOTING YOURSELF IN THE FOOT WITH EVERY PAYCHECK
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