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Personal Finance and Investing

Shermann

(8,938 posts)

7. Another hurdle young people face is student loan debt

Reply to BlueTsunami2018 (Reply #5)

Wed Sep 13, 2023, 11:29 AM

Sep 2023

Making significant investments into the stock market when you carry significant student loan debt is a dangerous game. This is essentially trading on margin. Financial guru Dave Ramsey recommends aggressively paying down that debt instead. I think he's right.

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The Secret to Saving for Retirement: Start Before You're 20 [View all] question everything Sep 2023 OP

If you set one up for your tyke, make sure they know the penalty for early withdrawal. 3Hotdogs Sep 2023 #1

Yes, Roth IRA in your 20's and 30's and transition to IRA + Roth IRA during your peak earning years Shermann Sep 2023 #2

the secret to retirement is good union jobs mike_c Sep 2023 #3

How many snowybirdie Sep 2023 #4

Up to the parents. question everything Sep 2023 #6

There are very few teenagers with that kind of foresight. BlueTsunami2018 Sep 2023 #5

Another hurdle young people face is student loan debt Shermann Sep 2023 #7

True. If you join a trade union, they pay you to go to school. BlueTsunami2018 Sep 2023 #8

The key point is you can never start saving too soon! Mark.b2 Feb 2024 #9

Good thing that you encourage new hires to start savings. And I can see the reasons for question everything Feb 2024 #10

Can a parent fund a Roth for a kid? Happy Hoosier Mar 2024 #11

Yes, there is an income requirement and the amount that one can contribute is $6,500 question everything Mar 2024 #14

Message auto-removed Name removed Mar 2024 #12

Welcome to DU question everything Mar 2024 #13