Re: ot-serious question

Sue Kelso wrote:
ok, you receive a significant amount of money,. any you know you will recieve the same amount over the next few years..

do you invest it for the future or do you use it to get yourself out of debt (mostly) right now...(not including mortgage).

sue k


Definitely get out of debt: think of it this way, you can take the money that you're repaying to cover your debt and invest that instead so that in effect, you're repaying the debt "for free" while also getting access to extra funds (I know, I know, that's simplistic, but it's roughly true). As for mortgage, if you're itemizing and have a rate under 7% I wouldn't repay it (although you might consider increasing the amounts of the payment slightly).

Finally, set aside some funds to buy season tickets annually for Iowa football - it'll do you more good than all the other stuff.

--
I'm so hip I have trouble seeing over my pelvis.
I'm so cool you can keep a side of meat in me for months.
.

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