Updated about 1 year ago on . Most recent reply
20k Inheritance - debt pay down or invest?
What would you do in this scenario and why?
If you had 50k in credit card debt for business startup costs (not real estate) with a 3-4-year plan to pay it off, high debt utilization in the meantime and a 620 credit score - but wanted to start investing in rental properties - what would you do with 20k that falls into your lap?
Most Popular Reply
@Piper Watson
Pay down the credit cards as the chances of earning a return that is at a greater interest than the credit cards is very rare and risky. Always pay down your high interest debt first.
It only makes sense to invest cash when it can provide a greater return on your money than your debt can.
Hope this helps
- Chris Seveney
7e investments
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