[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance


View post   

File: 120 KB, 1146x871, 20190330_144525.jpg [View same] [iqdb] [saucenao] [google]
16280957 No.16280957 [Reply] [Original]

Financial question:

Say I make it big with one shitcoin and I have enough to pay for 50k of student debt in one go. Should I do it or do monthly payments and invest the rest in other things?

>> No.16280961

>>16280957
How much money will you have left afterwards if you pay it all off?

>> No.16280968

>>16280961
Let's say 30k-50k

>> No.16280972

>>16280968
Federal or private?

>> No.16280977

>>16280972
Federal

>> No.16281006

>>16280977
Pay it off. The USA don't fuck around. At the very least pay off a manageable sum that will leave monthly payments achievable.

If it was private I'd say all in on business and call bankruptcy if you fail

>> No.16281050

>>16281006
100% agree.

Rare thread to get good advice here, but op should do as you advise

>> No.16281055

>>16280957
is there interest on the 50k debt?

>> No.16281058

>>16281055
A combination of 3.5%-5.5% loans

>> No.16281070

>>16281006
That's true, sadly it's federal student aid and I wouldn't want to get a stick up my ass by Uncle Sam

>> No.16281078

>>16281006
This, keep investing with your leftover cash, but wagecuck it while you wait for your bags to moon.

Short link at 2.90$
Short BTC at 9k
Buy shitcoins that might actually do something, (i.e. shitcoins of the month are out, things like LINK at 20¢ are in)

But, don't forget to pay your fucking taxes

>> No.16281114

>>16280957
If you make it big in anything - pay it all off immediately if you can, or immediately pay as much as it off as you can. You don't want debt, my man. It's not worth the stress - trust me. I'm 30 years old and do very well right now, but if I could go back I would have sacrificed other things such as a nice car, nice living place, traveling etc. to become debt free as soon as possible. You don't want that shit hanging around later in your life. Luckily, I don't have debt anymore, but there is a risk that you could reach a certain point in your life after college - such as finding your future wife, having kids, etc. where it will become practically impossible to pay off a large amount of debt as you get older and as your life progresses. Be fucking selfish and only care about yourself until your debt is gone as fast as you can do it. You will be much more at peace in life if you do that, especially since you are still young. This is just MHO, but I think most men my age who are doing well would still go back and do the same, regardless.

>> No.16281122
File: 129 KB, 500x467, at-t-11-05-am-skinner-i-message-today-10-55-am-henlo-19318404.png [View same] [iqdb] [saucenao] [google]
16281122

>>16280957
Take into account rate of inflation. It's actually beneficial to push paying loans if the inflation rate is higher than your interest rates. I think.

>> No.16281132

>>16281114
Also really good advice, thank you

>> No.16281578

>>16280957
50k all in chainlink. Right now.

>> No.16281582
File: 89 KB, 328x1024, 1573768738668.jpg [View same] [iqdb] [saucenao] [google]
16281582

>>16280957
Inspect these numerals

>> No.16281620

>>16281132
IT's shit advice. If you're betting on crypto you're betting against the traditional financial system. Take out as much debt as you can and pay it off over the longest time you can, just stack real assets. If you go bankrupt, what are they gonna do? Seize your fukin chainlink node?

They're fucked.

>> No.16282211

>>16281620
Another school of thought here