Where is your tax return going?

jarrettg
Posts: 26
Joined: Sun Dec 25, 2011 1:50 am

Where is your tax return going?

Post by jarrettg »

Well i work out in the city. so im looking at having a remote start and car alarm put in and pricing out some coilovers.
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Teg-Potential
Posts: 340
Joined: Sun Aug 05, 2007 2:52 pm

Where is your tax return going?

Post by Teg-Potential »

Waffles;287598 wrote:Keep the student loans, once you are married, the interest you paid is a tax deduction. I have enough in the bank to pay mine off, but I am making profit off of the money in the bank.
as im in the financial industry, and series 7/66 licensed. Waffles is soo true. while paying debt down is good, you have to look at what is the interest rates and whether you can deduct interest as well as what you could make on the money. Ex. loans at 6%.. but mutual fund or some of the other interesting products out there 7-8% returns aren't that far fetched with the market bouncing back. so just paying off the interest (so it doesn't get any bigger) and then you make money and just pay down the loan in smaller chunks.

"Much more satisfying as well to watch money GROW than watching debt SHRINK."

and paying down my CC bill is what my paltry $400 return is going towards
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