Should YOU invest or pay off debt? - Office Hours Ep.4

Should you invest or pay off your debt? What is the best way to use $1,000? I discuss different types of debt and the risk vs reward of investing. Should I invest it into the S&P 500 ETF VOO and get 10% return or should I pay off my credit card and stop paying crazy interest rates taking me deeper in to debt?

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#personalfinance101 #creditcarddebt #howtogetoutofdebt

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[NolanGouveia]

What questions can I answer next week?! 🎉

[lendara]

This is great! This is a nice reminder on how to get the priorities straight. I need to review this for myself. Thanks!

[lavenderu]

Investing in stock and knowing you owe a huge credit card balance is wild. Id rather pay off my debt then play later

[backyardgrillmaster]

But what people don't talk about is taking Rest of the table. That's what uncle Dave is try talking. If you ever been poor and broke you never want to go back, so you take the Rest of the table. Do the baby steps. And stay debit and Rest free. That's what uncle Dave has been saying for 30 years. A house with no mortgage never gets for foreclosed on!!!!

[annwarstockholmofficial]

Thank u professor 👨‍🏫 is it wise to invest cryptocurrency or pay off debt 💸 😢

[Gabriel]

Question Professor G. Not related to this video specifically but related to the topics you cover. Once someone gets their 401/IRA setup with their desired ETF's, do you still recommend putting more into them in a self directed brokerage account, or using that for just stocks ? Just curious how you feel about overlap across different funds. Thanks :)

[erikoviedo]

How u feel about Dave Ramsey’s baby’s steps ?

[elvis.rojasm]

with the dividends I will pay my medical bills lol 😁

[l.bolton]

Here’s a question. I have an auto loan debt and the interest rate is 4.49%. I also have a high yield savings account that is giving me 4.95%. I could easily pay off the auto loan but why would since that money in the savings is giving me a better return. I would consider paying off the auto loan debt if the interest rate in my savings account dipped below the interest rate of my auto loan. Is this a good mindset or am I missing something?