Hello everyone,
It's been a little while since I've posted. I really appreciated the advice I received last time I had a question. Here is where I'm at today...I just bought a 2010 Ford F150 pickup with 75k miles for $20,000 (OTD). I financed the truck on a 4 year note at 1.45%. I love the vehicle so far and am just wondering how I should go about paying off the loan. Little background on me:
25 years old
Will make about 55k this year (down from past years)
Roth IRA- 28k
401k- 24k
Taxable brokerage account- 13k
Pension plan- 5.5k
Savings- 40k (half earmarked for house down payment and other half EF)
Should I just make the payment for 4 years, drop a chunk on it then continue to make payments, or just pay it all off now and deplete EF??? Thanks everyone
Aaron
It's been a little while since I've posted. I really appreciated the advice I received last time I had a question. Here is where I'm at today...I just bought a 2010 Ford F150 pickup with 75k miles for $20,000 (OTD). I financed the truck on a 4 year note at 1.45%. I love the vehicle so far and am just wondering how I should go about paying off the loan. Little background on me:
25 years old
Will make about 55k this year (down from past years)
Roth IRA- 28k
401k- 24k
Taxable brokerage account- 13k
Pension plan- 5.5k
Savings- 40k (half earmarked for house down payment and other half EF)
Should I just make the payment for 4 years, drop a chunk on it then continue to make payments, or just pay it all off now and deplete EF??? Thanks everyone
Aaron
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