I have 6k in a betterment account, and debt that needs paying off. Should I take the 6k out to pay off debt even if the market is down, knowing that I’ll be able to invest a lot more when my debt is gone?
Hi! Simply put, paying off debt is always a sure investment. Then you can invest all the money you want moving forward without debt hanging over your head! Also, the S&P500 went net positive as of yesterday, I do not know where it will end today. Hope that helps!
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I agree with @dgurgan!
Think about it in the opposite. Would you take out a loan and put it in betterment? I hope not. That’s exactly what you’re doing by not paying off the debt.
I’d basically drain all regular/taxable accounts but not any retirement accounts to get out of debt. Then once you’re out of debt you can march into the investing phase with your full income no longer burdened by debt payments! 