Hi there! You new here? We love that you found our little corner of the web. Here at Debt Free Guys, we’re all about helping people experience the freedom of becoming debt free! Would you love to feel that relief? After reading our article below, see how we can help you more here.
Is it smarter to pay off debt or invest?
Learn which option is better for you paying down debt or investing on this Queer Money®. Then kick off your financial independence journey now by getting your free copy of the 7-Step Credit Card Debt Slasher.
Invest in your debt vs. investing in the stock market
There’s a lot of success porn online around investing in the stock market and getting big returns. Some are even selling their investment strategies as a way to pay off debt.
But there is a risk of loss associated with any kind of investment. And there are many factors to consider as you decide whether to focus on paying down debt or investing.
On this episode of Queer Money®, we offer insight on deciding whether to pay off debt or invest your money, explaining why successful investing is about time in the market rather than timing the market. We describe how compound interest influences both investments and debt, challenging you to consider the Debt Lasso Method to pay off credit cards more quickly.
We will help you understand how carrying debt may impact your mental health and learn how Fidelity’s 6% Rule can help you decide between paying down your debt or investing is right for you.
Listen here to see what is best for you, paying down debt or investing :
Topics covered on should you pay off debt or invest
- Developing a strategy around both paying down debt and investing
- How to decide whether to focus on paying off debt or investing
- The danger in chasing returns in the stock market
- Why successful investing is about time in the market vs. timing the market
- How compound interest influences both investments and debt
- What tax credits and deductions to consider when deciding whether to pay off debt or invest
- How carrying debt may impact your mental health
- Using the Debt Lasso Method to pay off credit card debt more quickly
- When to use Fidelity’s 6% Rule to decide whether to invest or pay off debt
- The risk of loss associated with any kind of investing
Resources to help you decide to pay off debt or invest
- Savers Tax Credit on Queer Money® EP311
- Debt Lasso Method
- Debt Lasso on Queer Money® EP236
- Fidelity’s 6% Rule
- CreditWise
Connect with David and John
- Debt Free Guys on Facebook
- Debt Free Guys on Twitter
- Debt Free Guys on YouTube
- 7-Step Credit Card Debt Slasher
- Queer Money Facebook Group
- Queer Money on Instagram
- Subscribe on iTunes
- Email [email protected]
Get more on if it is best to pay off debt or invest
- What You Should Know About ESG Investing
- How to Be an Angel Investor with Arlan Hamilton
- How to Pay Off Credit Card Debt in 2022
We’re David and John Auten-Schneider, the Debt Free Guys and hosts of the Queer Money® podcast. We help queer people (and allies) live fabulously not fabulously broke by helping them 1) pay off credit card debt, 2) become part- or full-time entrepreneurs, and 3) save and invest for retirement.