Pay Off Debt Or Invest [From A Millionaire]

Pay Off Debt Or Invest [From A Millionaire]

Pay off debt or invest? It’s the age old question of what to do with our extra money. In this video, I’ll explain how to figure out if you should invest first or pay off debt first so you can make the most of your money. Enjoy!

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[WealthyTiffany]

Thanks for watching! 😘 Comment below, are you paying off debt or investing first??

[sanikura]

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.

[lynnwalker]

I paid off my credit card debt first, and then opened my first brokerage account! It felt so good to be debt free! Good video!

[kalenl]

Thanks Tiffany for sharing this calculator link! It’s just what I needed to make some important financial decisions. BTW, love your hair! 😁

[Alessandro]

I'm debt free as of 12/2/2021!

Thanks Tiffany!

Now its time to invest and keep saving for at least 9-12 months of living expenses!

[berthalackey]

You broke it down so simply, thanks Tiffany!

[beckylee]

Nice video Tiffany - btw your hair looks nice wavy, it really suits you !

[cspc]

I'm always a fan of doing both. Nothing wrong with investing small amounts while you takle debt.

[anthonyjamessmith]

I have a small mortgage with a low interest rate, so I am investing to increase my wealth and would be able to pay the mortgage off if necessary.
Thanks for the information.

[FinancialSelfReliance]

Great point about reducing your debt increasing your credit score, which may allow you to refinance debts into better rates.

[hallpaintandbody]

Just today, I started up the tractor and oil was leaking out. Now I can dip into the emergency fund to fix it. The more food I grow, the more stocks I can buy. Happy investing!

[jrocha]

Great Video !!! I am going to pay my Mortgage off end of year and i will have about 30k cash.... what should i do with Cash ? Do i now put the extra Money i would have Paid in Mortgage Payment into a Mutual fund, into my Roth ? You make my Day !!! Keep up the Great Advice !!!

[jeremygaal]

little bit of column A and a little of column B. Just had a deal on another rental property come up. Buying that one then I'll focus on paying down debt some more.

[EvangelistRBColbert]

I do all three! I divide my salary between savings, investing and debt. Maybe it's easier for me since I have a side business that I plan on doing full time so I can leave my day job soon beautiful! 💖

[angusmcsnort]

I'm going to build up my emergency fund first LOL

[VM-frqn]

Does paying off debt include mortgage debt ?

[alinowak]

Doing little of both is good in my opinion

[sshumkaer]

I Normally agree with anyone pay debt off. But if you're like me 38 and a half low income under 30k but full benefits with state pension. But 80k student loans, it really hurts you not to be investing along the way. Number one by the time you hit your 30s most of us is close to half dead. And most of us couldn't pay 80k off in 10 years. My point is do both. Invest. I've always said when I hit 500 a month divided that I was going to put 250 on my student debt, than when I crossed 1k month 250 for real estate investing. I'm super far away from achieving that as I'm just not hitting 2k invested. But that my road map for now

[leecs]

What if you are age 50 and no nest egg?

[StupidIsTheNorm]

If your investment interest rate is greater than you debt interest rate, then you’re better investing