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/biz/ - Business & Finance

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2148338 No.2148338 [Reply] [Original]

Hey /biz/ looking for some financial advise.

My father just passed and left me a lump some of money. I have student loans to pay off, and could pay them all off right now.

Should I pay it off completely now, or should I just pay off a lump and make regular payments to improve my credit score?

>> No.2148376

>>2148338
c

>> No.2148382

Kill yourself

>> No.2148384

>>2148376
r

>> No.2148422

>>2148338
Dude, you basically have a low interest loan. That's like going to the bank asking for 100k and paying it next day without using it for something.
Do the math, and if you can throw it in a fund and make more than you pay in interest, go for it.
Throw some at crypto aswell. (or all of it)
You can allways bail on student debt

>> No.2148433

>>2148384
y

>> No.2148438

>>2148422
Also sorry for your father, that should toughen you up.

>> No.2148444

>>2148433
p

>> No.2148460

>>2148444
t

>> No.2148462

>>2148460
o

>> No.2148474

>>2148338
Paying off debt is the only guaranteed return on your money. You should at least pay off seventy percent and keep 10k as emergency fund. Invest the remainder.

>> No.2148570

>>2148474
I agree but no to this extent.

You should pay half of it right now, use the remaining money on investments. Remember about your interest payments will be reduced in total since you paid a big sum of it now.

You have capital now(technically speaking), and you can make something out of it.


Or use the money to completely pay off the debt and continue doing what you're doing now.


I agree, that second option sounds ridiculous.


Good luck and feel better anon. Don't waste it on stupid shit like drugs beer and material.


Make sure your assets outweigh your losses by a mariginal difference. There is no inherently safe return. Don't do CDs, too little return for now.

Go for index funds if youre in a first world country, if you plan on going stocks (which I wouldn't recommend since you seem new) keep 25,000 for yourself to look for options incase you lose your job and need to move somewhere else or need a car or medical emergency.