DON'T PAY YOUR DEBTS

[Anonymous No.17142393]

You are fools to pay off debt when the interest is LESS than the GROWTH of investing.

Let me give you an example.
If I pay off a 5 year $10,000 loan at 5% today as a lump sum. I lose $10,000 to save $1,000.

HOWEVER

If I instead take that $10,000, invest it in an index fund (which grew 25% on average last year), and don't add anything else to it for 5 years, I'll have a $17,610.

[Anonymous No.17142429]

>>17142393
This. I invested my student loans when i was in college and secured my financial future without even realizing it. Debt is just a number. Pay your minimums to keep the collectors away, invest your savings and make it before they knew what hit them.

[Anonymous No.17142443]

>>17142393
Based. Plus bernie will forgive them.

[Anonymous No.17142452]

BASED

[Anonymous No.17142465]

What is risk?

[Anonymous No.17142484]

>>17142393
facts. i wish i realized this in 2016.

[Anonymous No.17142494]

>>17142465
Non-existant for Index funds. They've had an average growth of 12% per year for nearly 100 years.

[Anonymous No.17142495]

Jesus paid my debt

[Anonymous No.17142514]

>>17142429
You're a retard in that regard because if you pay off $50K in student debt, you can borrow like $150K+ more in mortgage debt to invest in rental properties, and get a lower interest rate.

I paid off my student debt almost immediately out of school and financed a 4plex for 873K that's worth more than $1.1M now. They let me borrow 96.5% of the money through an FHA loan and I later refinanced.

[Anonymous No.17142533]

>>17142495
I wish our immigrants were that nice. All we get is fucking somalis and iraqis t. finnfag

[Anonymous No.17142541]

>>17142494
LMFAO that's exactly what Japanese cucks were saying in 1990.

[Anonymous No.17142551]

>>17142393
I always knew this was a high IQ board. I only pay the minimum on my student loans ($210 a month), switched to a graduated repayment so loan payments increase after every few years, and put all my money in ETH. Just this month I've made 90% returns.

[Anonymous No.17142709]

>>17142393
This. Don't let the Goldenbergs stop you from investing early and setting yourself up for life.

[Anonymous No.17142759]

>>17142429
Debt is the biggest spook that exists. All that matters is 1. NET INCOME and 2. ON-HAND-RESERVES

If you ever want that cloud of debt to disappear, research bankruptcy law.

Reminder, you're going to be dead in 60 years or less, at which case debt won't matter anyways. MUH FISCAL RESPONSIBILITY retards, think they're gonna make it out of this life alive. Newsflash dipshits, you won't live forever, and even if there is an afterlife, the debt isn't going to carry over.

[Anonymous No.17142779]

>>17142759
>If you ever want that cloud of debt to disappear, research bankruptcy law.

Bankruptcy doesn't wipe student loans

[Anonymous No.17142790]

>>17142779
Yes it does, moron. Federal loans can be discharged in bankruptcy court per the Brunner decision, which has a 3 pronged litmus test. It's easily met if you know what you're doing. I know because I did it.

[Anonymous No.17142806]

>>17142790
How old are you?

[Anonymous No.17142818]

>>17142790

[Anonymous No.17142822]

>>17142806

30.


https://www.jthomasblack.com/library/discharging-student-loans-with-the-brunner-test.cfm

The Brunner test has three parts that evaluate whether or not a debtor can afford to pay off their student loans. The Brunner test is named after the case in which it was first used, Brunner v. New York Higher Education Services Corp. The debtor must show the judge that:

1. He has made good faith efforts to repay his student loans.
2. He cannot maintain, based on current income and expenses, a "minimal" standard of living for himself and his dependents if forced to repay the loans.
3. Additional circumstances exist indicating that this state of affairs is likely to persist for a significant portion of the repayment period of the student loans.

[Anonymous No.17142844]

>>17142822
Hmmmmm

[Anonymous No.17142857]

>>17142822
checked an based. however, I'm not poor enough to meet these requirements.

[Anonymous No.17142873]

>>17142844
https://www.youtube.com/watch?v=Yvj0VUQ8EE0

[Anonymous No.17142887]

>>17142514
based csaer

[Anonymous No.17142888]

>>17142495
Amen, kek

[Anonymous No.17142895]

>>17142759
>Debt isn't going to carry over.

I'm not going to underestimate the powers of the Jew. For all we know we start the afterlife 10k in the hole.

[Anonymous No.17142896]

>>17142822
I make $85k a year I don't get to do this. Still want to declare bankruptcy rather than pay.

[Anonymous No.17142898]

>>17142873
Thanks for this.

[Anonymous No.17142909]

>>17142898
You're welcome, friend. Good luck.

[Anonymous No.17142952]

>>17142898
This is the video I was originally looking for but both suffice to explain the requirements for federal student loan bankruptcy discharge fairly well.

https://www.youtube.com/watch?v=V5X-d47L-7o

[Anonymous No.17142971]

WAIT, THE MARKET WENT *DOWN*?! THAT FROG POSTER SAID IT WOULD GO UP!!! HOW AM I GOING TO PAY BACK THIS LOAN? WILL THEY LET ME GET A BIGGER ONE TO DOUBLE DOWN???

HEEEELLLLPPPP

[Anonymous No.17143005]

>>17142895
when you walk into the light you end up in a brooklyn deli with a guy behind the counter saying he'll give you a map of heaven and get you started off for a small fee (with interest)

[Anonymous No.17143507]

>>17142971
It's called bankruptcy.

[Anonymous No.17143885]

>>17142393
>mfw 0,57% mortgage rate 1y fixed

Feels good

[Anonymous No.17143909]

>>17142895
No Jews in Heaven, thank God.

[Anonymous No.17143916]

>>17142393
Yes anon, guarantee me a fixed income stream.

[Anonymous No.17143919]

>>17142494
Yeah and how long does a fiat currency last on average?

[Anonymous No.17144115]

>>17143919
300 years.

[Anonymous No.17144183]

>>17143507
Anyone actually filed bankruptcy before? How much debt should one have before considering this option?

[Anonymous No.17144207]

K

[Anonymous No.17144285]

>>17144183
anon i've filed bankruptcy in the US, its not so much how much debt. its how much they're going to garnish your wages.
also it depends on your assets. like if you own a home and one vehicle, you can file and pay the court a monthly payment to get rid of your credit card loans and car payments, over a 2 year period.

if you own a car and thats about it, and you have masive debt, file bankruptcy. they'll let you keep your car and wipe away your credit card debt.
but if you bought assets within the last year, say you used a credit card to buy a huge TV, the courts will make you give it up to help reimburse the banks.

[Anonymous No.17144735]

>>17144285
If you file for bankruptcy, doesn't that pretty much disqualify you for any future loans?

[Anonymous No.17144822]

>>17144735
in the US their not supposed to hold it against you after 2 years, its supposed to get removed from your record after 7 years.
my credit score was over 600 after a yr, and after 3 years i hit 700 again

but some companies won't give you a loan if you've defaulted on one of their loans before, even if it was "removed" thru bankruptcy

[Anonymous No.17144908]

Based and red pilled.

Trump created a legacy for himself by over leveraging himself with debt and eventually defaulted on his creditors. Gave him the power and popularity to eventually become the president of the united states.

[Anonymous No.17145121]

>>17144908
Wait, he became president?

[Anonymous No.17145211]

>>17142393
>he just learned about alpha and opportunity cost
congrats

[Anonymous No.17145246]

>>17142393

You can also deduct student loan interest if you make under 65k or so, and mortgage interest as well. My effective mortgage rate is over 1% lower than the nominal rate because of deductions.

[Anonymous No.17145332]

>>17145246
You need to provide proof of payment on loans which isn't going to give you the money you lost back, brainlet. It's not even a tax rebate, it's just a useless good for nothing tax credit so we're talking a FRACTION of the amount you put in.

60000
-2500 (the absolute maximum)
___________
$57,000 still subject to tax.

[Anonymous No.17145339]

>>17145332
57500*

[Anonymous No.17145403]

>>17143909
Based and redpilled

[Anonymous No.17145440]

>>17145332
Whats bullshit is the credit doesnt work if your income is past the DOLLAR FOR DOLLAR phaseout... my student interest rate is worse effectively than my car loan

[Anonymous No.17145444]

>>17144908
China's economic slowdown is going to trigger a major recession and most countries including the US are going to risk having to default on their mass debt. There is NOBODY on earth more experienced wielding mass bankruptcy as negotiation leverage than Donald Trump. USA will be first out of the coming recession.

[Anonymous No.17145542]

>>17145444
nah if it gets so bad, the US can't pay back its debt. we'll just issue a new currency. and wait for the old to become worthless, and pay off our debt for fractions of a penny

[iii No.17145620]

>>17142429

[Anonymous No.17145628]

>>17145542
Exactly, the US 'cant' pay its debt and thats the kind of negotiation leverage Trump thrives best off of. He'll go meet with the other countries/creditors; "We can never pay you back, unless you accept this deal on these terms. Otherwise youll see nothing." Thats how he previously got out of billions in debt when his businesses went bankrupt.