I am 25 years old, I have just under $40,000 in student loan debt. Solid job and saving 10%+ of my gross income. My investment/savings strategy is to max out my TFSA first and pay my minimums on student loans. My two loans are 2.70% and 5.20%. My annual investing returns are 8%+ with dividends and I get a tax credit on my student loan interest payments. Should I sacrifice maxing out my TFSA to make higher loan payments?
danealloyd7 karma
Hi Rob,
I am 25 years old, I have just under $40,000 in student loan debt. Solid job and saving 10%+ of my gross income. My investment/savings strategy is to max out my TFSA first and pay my minimums on student loans. My two loans are 2.70% and 5.20%. My annual investing returns are 8%+ with dividends and I get a tax credit on my student loan interest payments. Should I sacrifice maxing out my TFSA to make higher loan payments?
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