trebekismyhero wrote:silenttimer wrote:I would recommend saving up for an emergency fund (4-6 months of living expenses) in a saving/checking account. After that, you should dump everything into your loans because it's an automatic return on the money you save from not having to pay interests. With the market being somewhat high right now, I am not certain that you can get 6-8% return from the market this year if you were to start at this point. At $6k per month, you should be able to be done with your loans in 2-3 years. This was my strategy and I've been debt free for over two years now.
Agree with this. I am junior and still have debt, but saved up about $20k in emergency savings account. I have been aggressively paying my loans since. I too am concerned about the stock market peaking so I have opened up a cash value life insurance policy and put a little bit in a mutual fund. I just think we are due for a recession or at least some correction soon so I haven't put much in the market.
Ehh, not a big fan of this approach. Timing the market is just a guessing game, and isn't worth the effort. If someone decided this approach a year ago or even 6 months ago, they'd be down a fair chunk now compared to where they could have been. Better to just enter when the opportunity strikes and ride it out - good or bad - knowing you're investing over a long time period.