ST Alpha - "this is my dilemma. when the time comes (soon hopefully) that i have my credit card and back taxes paid down, where do i put the windfall?" (Reading a Post)

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In response to "I wish I could. with IBR, I should save about $125 per month next year. that's not insignificant. " by amanda jones

this is my dilemma. when the time comes (soon hopefully) that i have my credit card and back taxes paid down, where do i put the windfall?

Posted by poxie (aka chris) Oct 24 '11, 12:43

doubling up my monthly student loan payment or putting it back into the IRA that i've been neglecting for 8 years so I can get the compound interest working for me at some reasonable level

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I would probably do the IRA. assuming the interest rate on the IRA will be higher than 4.25%, it's the smarter bet. - amanda jones Oct 24, 12:46 2
- i just want that debt *gone* though. as fast as possible, even at a relatively low interest rate -- nm - poxie Oct 24, 12:48 1
  - yeah, I hear you. (can you do IBR? do you qualify?) -- nm - amanda jones Oct 24, 12:49

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this is my dilemma. when the time comes (soon hopefully) that i have my credit card and back taxes paid down, where do i put the windfall?

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