Desert Fox wrote:DaftAndDirect wrote:Desert Fox wrote:TCR is to do big law for as many years as you can handle while only working like 55 hrs per week. That's probably 2, maybe as long as 4-5. During that time, save up, pay as little of your debt as you can (30 year repayment plan), then do PI with enough money to buy a condo (or at least most of one).
It seems like big law exits pretty well to PI.
Interested in hearing more about this approach. I was under the impression people would want to pay down loans as quickly as possible to avoid getting really gouged on the compounding interest.
Depends how much debt you have. If you have 230K, then you'll never pay it back on PI and shouldn't try. Let IBR take that shit. If it's like 60K, pay that shit back.
I'll be in the middle with around 130k. Am I unreasonable to think that I can pay this down in 2.5-3 years on a Big Law salary? Is paying it down that quickly the smart thing to do?