Maximize your Loan Forgiveness

As more Americans have their student loans forgiven, it's important to consider what to do with the extra money. Many people have already included loan payments in their budget, so now is the ideal time to use this money wisely rather than spend it frivolously on outings, Uber Eats, etc.

The average payment for a Bachelor's degree was around $302, and $688 for a Master's degree. If people have the discipline to invest this money for their future, they could see significant benefits over time.

Let's consider an average Bachelor’s degree holder who has a monthly payment of $302. If this person were to invest this money into a Roth IRA, averaging at least 9% over 20 years, they would have approximately $194,323 tax-free.

For a Master's graduate with a monthly payment of $688, investing the same way would result in about $462,952. The longer you continue investing, the greater the outcomes will be

If you are one of the people who received loan forgiveness, I encourage you not to take it for granted. Instead, take this opportunity to regain control and build wealth for yourself and your family.

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