KEY POINTS

  • Whether it’s a bonus, tax refund, stimulus check or severance package, coming into money spurs the question of whether to pay off debt or invest with it.
  • No matter what the source of the money is, you should give careful consideration to the decision.
  • There are good reasons for either decision. You could also opt to do a little bit of both.

A frequent question that I get asked as a financial advisor revolves around paying off debt versus investing when the opportunity arises.

Typically, someone has some extra money as the result of a bonus, tax refund or some other windfall.

Click to read the entire article: Should you use extra cash to invest or pay off debt

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