Money Guy Show "Should I Sell My Investments to Pay Off My Debt?"
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Oct 16, 2024 Explore the dilemma of whether to sell investments to tackle hefty credit card debt. Discover the significance of setting clear financial goals amidst life’s chaotic moments. Learn how prioritizing high-interest debt can impact long-term financial health. Delve into the importance of open financial conversations with loved ones to cultivate healthy money habits. Lastly, hear about the value of audience feedback in shaping future discussions, ensuring content remains relevant and supportive.
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Savings Rate Focus
- Focus on your savings rate, especially during the messy middle of life.
- Aim for 25% savings to build a strong foundation for your future.
Bridge Account Necessity
- Define your financial goals to determine if a bridge account is necessary for you.
- Consider factors like early retirement or specific purchases when deciding.
Tackling Credit Card Debt
- Pay off high-interest credit card debt aggressively, even if it means selling investments.
- Calculate the potential future value of that debt to understand its true cost.