Financial Independence Daily FI discussion thread - April 05, 2020 |
- Daily FI discussion thread - April 05, 2020
- How does the CARES Act affect the typical advice to pay off student loans above the prime interest rate?
- Changing 401k contribution amounts at this time?
- Is now the time to buy silver?
| Daily FI discussion thread - April 05, 2020 Posted: 05 Apr 2020 01:07 AM PDT Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. [link] [comments]  |
| Posted: 05 Apr 2020 03:29 PM PDT Once the CARES act goes into effect, my understanding that student loan debts interest and collection will be temporarily suspended. From advice I've seen elsewhere in this subreddit, it sounds like one should typically pay off debts above the prime interest rate first. While the CARES Act is in effect, does that mean it's better to invest in other areas at the moment since there's no interest accumulating? Is it better to pay down the student debts still? Or, because the economy is unstable, it's better to hold onto as much cash as possible? [link] [comments]  |
| Changing 401k contribution amounts at this time? Posted: 05 Apr 2020 04:03 PM PDT Together with my spouse we contribute about 70k pre and post tax to 401k (with automatic Roth conversation on post tax). This is about 30% of our comp as I have post tax option and spouse doesn't. We're thinking about lowering our contribution amounts to the match to have more cash on hand since it seems possible we both lose our jobs, and because we think the markets are going to go down further, and if we do hold onto our jobs we would be able to increase our contributions later in the year to make up for lost time. Obviously this is trying to time the market, which I know most here aren't fans of, but I'd love to hear why I'm an idiot or not. [link] [comments]  |
| Is now the time to buy silver? Posted: 05 Apr 2020 03:48 PM PDT Robert Kiyosaki just tweeted now is the time to buy silver. Good idea? Recommendations on best/safest place to buy I please? [link] [comments]  |
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