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100 HOGS AGREE posted:I also realized today that when I was hired into my job a couple months ago I was automatically signed up to contribute to a 401k so I'm thinking of axing it. My employer does match up to 4% contributions but I feel like the interest on 40k in student loans doesn't make it worth it and the money is better served paying down those loans. There's only like 200 bucks in that fund right now anyway and it's just sitting there, being useless to me. Your rate of return on the matched 401k contributions is 50% if they match 50 cents on the dollar. That is a risk free 50%. It would be foolish to give up a guaranteed rate of 50% earnings to more quickly pay down a 6%, 8% or even 20% loan.
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Jun 28, 2013 15:33
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| # ¿ May 3, 2024 20:27 |
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