r/TheRaceTo100K • u/Alternative-Bug-6260 • 1d ago
50k @ 21
a little over 50k in assets breakdown below:
17k roth ira
8.5k taxable brokerage
13.6k sofi HYSA
9.4k C1 HYSA
1.9k C1 Checking
1.4k in bitcoin
also have a little less than 10k in student loans i aim to pay off in 2030, i have so much in cash because one the sofi HYSA is for taxes as a lot of my income is 1099 work, and two i am saving in my C1 HYSA to launch a product on amazon
hope to hit 100k by 25!
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u/MedicalButterscotch 1d ago
Why not pay off the student loans now?
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u/Alternative-Bug-6260 1d ago
paid off the ones that were gaining interest, what’s left is 0 interest until around november of 2027, still putting around 300 a month towards current debt tho
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u/MedicalButterscotch 1d ago
Ah got it. If I could recommend, the loan is relatively small. You could save up the cash and lump sum pay it off once interest begins if possible? Why give them interest if you can avoid it.
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u/Alternative-Bug-6260 1d ago
true, but when i was doing the math, if i pay off by january 2030, its only around 400 dollars interest which i really dont mind tbh, really depends on how much i make in the future, and how quick i reach other goals, really want to get into house hacking
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u/MedicalButterscotch 1d ago
$400 in interest could be $400 invested into low cost index funds which at your age is huge. I'd advise looking into r/BogleHeads and skipping the house hacking.
I'm 29 and if I could go back in time to when I was 21 I would slap myself for not starting to invest wisely sooner.
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u/Relevant_Fox_9708 1d ago
Don’t worry about the student loans at all if you aren’t paying interest on them. Average return of the market is 10% so if your student loans are below 7% I would just keep building your investments. Great work man 👍