Another "How Am I Doing?" question

[sblatner]

You are right about the EF - it's in high yield savings. The "other" money is in mutual funds, but they won't generate enough gains (unfortunately) to have significant tax implications. So I'll just wait until they are doing well enough to cash out.

You could sell your mutual funds and create some losses and use those funds to pay off your student loans. You can use $3,000 in losses on your taxes per year. The losses deduct from your income on the front of your 1040.

You may not want to create gains if you are using available cash to pay off loans because then you might not have enough to pay the taxes on the gains...just a thought.

[optimist]

You could sell your mutual funds and create some losses and use those funds to pay off your student loans. You can use $3,000 in losses on your taxes per year. The losses deduct from your income on the front of your 1040.

You may not want to create gains if you are using available cash to pay off loans because then you might not have enough to pay the taxes on the gains...just a thought.

Good one. I'll definitely keep that in mind. Thanks!

[JBlock]

You just really need to be highly optimistic while under pressure of increasing financial needs.