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So sick of it!

Bogleheads • View forum - Personal Finance (Not Investing) - www.bogleheads.org
Gang,

Your input on finances since I discovered this website has helped a lot. I am blessed with a great income. Let me tell you what is going on and what I am sick of!

Let me give you some details first...

Yearly investing - I am basically happy with this for now at 34yo.

18.5 k 401k + 25% match

11k BDRIRA 5.5k + 5.5k

30k brokerage index fund.

I refinanced my student loans last year with sofi 5 years low 2% IR. Graeat rate but the payment is $2.1k a month!!! This is what I am a sick of paying!!!! It drives me nuts every time is see it going out of my account!!! More than my mortgage!

So why not just pay it off early?

I have 4 kids and we have one income so I am terrified to have less than 100k cash in the bank. I will probably have about 135k or so by October or November. I am thinking of just paying the 100k off and going down to 35k in cash. I could keep the same investments above no problem. Would this be nuts to go that low in savings? My job is very stable.

I bought a duplex last fall and it is going well so maybe the 100k would look good against 4plex but prices have never been higher in my area so I am not loving this idea.

The real question is what to do with the student loans???

Pay off later this year and go low on cash but free up 2k a month?

Keep paying monthly for another 4 years because the rate is low?

Put the money in the market?

Buy more real estate?

I am in great position for my age so I don't want to sound like a jerk with this post!

Thanks for your advice.
Date: Jun 18, 2017   


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