04-23-2023, 05:54 AM
Am I doing enough? How’s my plan?
<!-- SC_OFF --><div class="md"><p>Currently, I am 26 and I have about $101K total invested between taxable, Roth, and 401k. I was putting in about $2500-$3000 a month for the past 3 years but I plan on taking a bit of a break from investing that amount to pay off my car loan of $16K at 4%.</p> <p>My plan is to put an extra $2K a month towards the loan and invest $1K a month into the market. </p> <p>Is this a good plan? Should I put less towards the loan and more towards investing? I really hate this debt and want to get rid of it by the end of the year.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/joeroganthumbhead"> /u/joeroganthumbhead </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/12uwdet/am_i_doing_enough_hows_my_plan/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/12uwdet/am_i_doing_enough_hows_my_plan/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>Currently, I am 26 and I have about $101K total invested between taxable, Roth, and 401k. I was putting in about $2500-$3000 a month for the past 3 years but I plan on taking a bit of a break from investing that amount to pay off my car loan of $16K at 4%.</p> <p>My plan is to put an extra $2K a month towards the loan and invest $1K a month into the market. </p> <p>Is this a good plan? Should I put less towards the loan and more towards investing? I really hate this debt and want to get rid of it by the end of the year.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/joeroganthumbhead"> /u/joeroganthumbhead </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/12uwdet/am_i_doing_enough_hows_my_plan/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/12uwdet/am_i_doing_enough_hows_my_plan/">[comments]</a></span>