M$D: It’s complicated
Giuseppe’s main concerns, in his own words:
I’m 36 with a wife and a 6 year old. We owe a total of about $380,000, almost all of which is student loans. We currently make about $170,000/year. In about 18 months it should increase to ~$300,000/year. Fortunately, we have some extra income available after covering our expenses and I am looking to figure out the best allocation of our current overages between saving for the future and paying off debt.
What we cover in this episode:
- Should income be used to pay off debt or build wealth?
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Peter Dunn a.k.a. Pete the Planner® is an award-winning financial mind and a former comedian. He’s a USA TODAY columnist, author of ten books, and is the host of the popular radio show and podcast, The Pete the Planner Show. Pete is considered one of the foremost experts on financial wellness in the world, but he’s just as likely to talk your ear off about bass fishing.