I have student loans to pay. Almost $1000 a month! The total amount I have to pay back is about $70,000.
When my mother passed away, she left me tons of money. That money I will be getting this year. (enough to pay off all of my student loans with).
I THOUGHT that an obvious person with that kind of money would pay off all his bills. But I am being told differently.
What I am being told is to invest the money, save the money, put it in a life savings account and keep it locked away. I am being told that I have a respectable job now and that I can pay the $70,000 off my self. I was told, Once you grow older, there will be a time in your life where I will need that kind of money. To open a shop or to invest in something or to purchase that house?
I want to start doing this 401 K thing and save money, but I can't with these l student loans on my shoulders. But I understand the sense of saving money.
What would you do if you were in my shoes? Pay off your debts? or Save it all?
2007-12-26
04:44:12
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7 answers
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asked by
angryguy191
1