Loan Payment or Investment Portfolio
I currently make $45,000 salary ($3,750/month) with 7.5% (3% match) going to my SIMPLE IRA. I am set for a pay increase to roughly about $55,000 to $60,000 in the next couple of months. I have $7,400 (3.96%) left on a student loan and $9,000 (2.19%) on my car loan. I currently live in my parents' apartment (close to work and travel for work often) and don't pay rent, utilities, and pay about $200 a month on food. I currently have $3,000 in savings (just spent $1,200 of my savings on much needed golf clubs as I am in sales and golf with clients) and put $500 in my savings account every month.
- $281.25 (SIMPLE)
- $500 (savings)
- $200 (food)
- $332.00 (car payment)
- $500 (student loans)
- $132 (insurance)
- $300 (gas)
- $79 (climbing gym)
- $400 (entertainment, golf, hockey, rock climbing, etc.)
I have spend the last year traveling, partying with friends, extending business trips to personal trips, etc. (Recent grad), and am now getting my personal finances in check.
I have been looking at low-risk ETFs, mutual funds, and other low-risk investment avenues for the remainder of my income. I have also been considering paying off all of my debt while I have little over-head costs.