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Student Loans vs. Mortgage
- Consider your age and risk tolerance when deciding between paying off student loans or a mortgage.
- A 20-year-old has more time to recover from financial setbacks than someone in their 50s or 60s.
Debt Prioritization Nuances
- Not all debt is created equal; consider the type of debt when making repayment decisions.
- Consumer debt like credit cards differs from student loans, mortgages, or investment debt.
Investing vs. Debt Reduction
- When deciding how much to invest after a home sale, consider age and financial goals.
- Younger individuals might prioritize investing, while older individuals might prioritize debt reduction.