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  • gambler2075
    replied
    Originally posted by gambler2075 View Post
    Thanks. Honestly, after reading "Black Swan" by Taleb I realized that absolutely nothing is guaranteed, and even if you have an excellent track record, a disaster could come out of nowhere and destroy you. So as hard as it was to take that money out, I had to do it.

    g
    Bit the bullet again and made a 53,000$ payment to SallieMae towards my med school loans. Now down to 50,000$ left from my expensive med school loans (started at 220K$+). There is nothing guaranteed in the stock market and I wanted remove the chance that I would lose that money back. Of course it is painful to take away capital that could potentially be used to make more money with, but, with stocks and my trading style, past performance is no guarantee of future results.

    g

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  • gambler2075
    replied
    Originally posted by disneysteve View Post
    Good job. Although the rates were fairly low, getting a guaranteed 5% return in today's market isn't such a bad idea. And now there is no risk of you putting that money into some investment that loses money.

    I paid off my student loans a few years ago and it is great not having that weight on my shoulders any more. It has made it possible for me to give more, invest more and spend more that we could when the debt was active.
    Thanks. Honestly, after reading "Black Swan" by Taleb I realized that absolutely nothing is guaranteed, and even if you have an excellent track record, a disaster could come out of nowhere and destroy you. So as hard as it was to take that money out, I had to do it.

    g

    Leave a comment:


  • disneysteve
    replied
    Good job. Although the rates were fairly low, getting a guaranteed 5% return in today's market isn't such a bad idea. And now there is no risk of you putting that money into some investment that loses money.

    I paid off my student loans a few years ago and it is great not having that weight on my shoulders any more. It has made it possible for me to give more, invest more and spend more that we could when the debt was active.

    Leave a comment:


  • littleroc02us
    replied
    It may seem painful now, but when you have paid off all of your debt, you have freed up more income and you will sleep better at night.

    Leave a comment:


  • gambler2075
    started a topic School loans

    School loans

    I finally bit the bullet and made a payment for 100,000$ to my friend Sallie (as in, Mae) to pay off some of my med school loans. I was debating for a long time whether I really had to do this, but since my loans were 4% and 5% I decided it would be best to just bite the bullet and make that payment. It is a good feeling.

    g
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