[Boards: 3 / a / aco / adv / an / asp / b / biz / c / cgl / ck / cm / co / d / diy / e / fa / fit / g / gd / gif / h / hc / his / hm / hr / i / ic / int / jp / k / lgbt / lit / m / mlp / mu / n / news / o / out / p / po / pol / qa / qst / r / r9k / s / s4s / sci / soc / sp / t / tg / toy / trash / trv / tv / u / v / vg / vip /vp / vr / w / wg / wsg / wsr / x / y ] [Search | Home]
4Archive logo
Good morning /biz/, still rather new here...
If images are not shown try to refresh the page. If you like this website, please disable any AdBlock software!

You are currently reading a thread in /biz/ - Business & Finance

Thread replies: 3
Thread images: 1
Good morning /biz/, still rather new here but I've been lurking and trying to devour as much information as I possibly can. I have a couple of basic questions that I can't seem to find answers to yet.

So I'm 23 and this is the first year I've ever contributed to my Roth IRA, prior to this I haven't done ANY saving. I think that sadly most of my generation won't have the same realization that I am having at the moment. I'm in a desperate scramble to make up for lost time investing and saving. From what I understand, things like Roth IRA's and 401k's are what you want to be maxing out before you put your money towards anything else. I set up automatic payments based on how much I'd need to contribute to hit the 5500 dollar limit every year, but this year I only have 1100 dollars in there and won't hit that 5500 before the end of the fiscal year unless I use a lot of extra cash.

I'll be going on a deployment in a month or so, and I'm considering selling my car. I owe 5,000 on it right now and I think I should get at least that much for selling it. Would I be better off paying the last little bit of debt I owe? Or should I use that to max out my contribution for the year since it's a one time only thing???
>>
>>1033585
Late response -- but I would value paying off debt before all else. Don't let that cripple you, and if you're going off to deployment, that might fuck with you when you come back. Leave with a clean slate free of debt; the other stuff can wait.
>>
>>1033687
Thanks for the feedback, I'd love to have the little bit of debt I have be gone, but i just keep wondering if it's better to try to scrounge up enough for my IRA before spring because I won't be able to max that contribution for 2015 ever again, you know?

I guess if the % rate on my debt is higher than the return I'd be getting on the IRA I should go ahead and get myself debt free first.
Thread replies: 3
Thread images: 1
Thread DB ID: 417601



[Boards: 3 / a / aco / adv / an / asp / b / biz / c / cgl / ck / cm / co / d / diy / e / fa / fit / g / gd / gif / h / hc / his / hm / hr / i / ic / int / jp / k / lgbt / lit / m / mlp / mu / n / news / o / out / p / po / pol / qa / qst / r / r9k / s / s4s / sci / soc / sp / t / tg / toy / trash / trv / tv / u / v / vg / vip /vp / vr / w / wg / wsg / wsr / x / y] [Search | Home]

[Boards: 3 / a / aco / adv / an / asp / b / biz / c / cgl / ck / cm / co / d / diy / e / fa / fit / g / gd / gif / h / hc / his / hm / hr / i / ic / int / jp / k / lgbt / lit / m / mlp / mu / n / news / o / out / p / po / pol / qa / qst / r / r9k / s / s4s / sci / soc / sp / t / tg / toy / trash / trv / tv / u / v / vg / vip /vp / vr / w / wg / wsg / wsr / x / y] [Search | Home]

All trademarks and copyrights on this page are owned by their respective parties. Images uploaded are the responsibility of the Poster. Comments are owned by the Poster.
This is a 4chan archive - all of the shown content originated from that site. This means that 4Archive shows their content, archived. If you need information for a Poster - contact them.
If a post contains personal/copyrighted/illegal content, then use the post's [Report] link! If a post is not removed within 24h contact me at [email protected] with the post's information.