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Considering the rising interest rates and the down market, is it still a good idea to focus on investing? Should you pay down your debt first? What does it depend on? How to do the math? Let’s answer those questions with the help of a former financial planner and seasoned investor.
You’ll Learn
- There are three spheres to consider when choosing to pay debts or to invest: your personal situation (what you are comfortable with, your job, your financial goals, etc.), your debt situation (interest rate, fixed or variable, amortization, etc.) and your investment situation (investor profile, type of investment, horizon, investment goals, etc.).
- There are “bad” debts that should be paid first. Creating a debt snowball is a good option. Mike explains how to do so.
- What does the math say? Which option seems more logical in a pure mathematical view?
- What should you do with your mortgage? Is it a good idea to max out your payments right now? Or should you focus on investing?
- What’s the place of liquidity in a debt vs investing plan? How can you create an emergency fund?
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This podcast episode has been provided by Dividend Stocks Rock.
The post Paying Down Debt or Investing [Podcast] appeared first on The Dividend Guy Blog.
