I just obtained ~$150,000 from a one-time event. Now I'm trying to figure out what to do with this money. I have no debts except for a $50,000 federal graduate student loan at 6.8%. My income otherwise is $50,000/year.
I plan to invest a substantial portion of this money in ETFs, largely index funds such as SPY but also some higher risk ETFs (not leveraged, just more segment-focused).
I've read up on advice about student loans, but my federal graduate student loan interest rate (6.8%) seems to be quite a bit higher than what most people here have discussed, so I'd like to ask for your thoughts on what I should do with regard to my student loans. Should I accelerate the payment by some fraction, or should I just pay them all off? The minimum payment is ~$600/month.
Thanks!
I plan to invest a substantial portion of this money in ETFs, largely index funds such as SPY but also some higher risk ETFs (not leveraged, just more segment-focused).
I've read up on advice about student loans, but my federal graduate student loan interest rate (6.8%) seems to be quite a bit higher than what most people here have discussed, so I'd like to ask for your thoughts on what I should do with regard to my student loans. Should I accelerate the payment by some fraction, or should I just pay them all off? The minimum payment is ~$600/month.
Thanks!