Author Topic: What do I do now??  (Read 1258 times)

poetdereves

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What do I do now??
« on: July 02, 2017, 10:05:08 AM »
Long story short, my wife and I got lucky with the booming Colorado housing market and made a profit of $75k on a house we have only owned for three years. We are moving to a LCOL area this week and are stumped on how to allocate our new funds. We are in our early 20's, have no kids, have relatively low expenses, and the only debt we have is $28k in student loans from my wife's masters degree that average right around 5% interest. I am starting school in the fall to become a PA and the program costs $50k total. I have not heard back on some scholarships, so it may be a bit lower.

So what do I do with the money? Should we pay off her loans or invest? Should we pay cash for my program or take out low interest loans while our stache grows? When I finish the program our income will probably be around $200-250k given average salaries from both of our fields. We just don't want to blow our chances to really give us a leg up from our profit from the sale.

marty998

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Re: What do I do now??
« Reply #1 on: July 02, 2017, 03:51:18 PM »
Study hard, make sure you pass your courses the first time around. Pay off the $28k and pay the new courses in cash.

Bank the theoretical monthly payments you would otherwise make on the loans.

That would be the starting point, then figure out investing.