JOETAB24: "I am new to this site as well as the world of investing. Is there any reason to hold on to a car payement that is about 270$ per month."Not enough information. What are the alternatives?"It is a 60 month loan at 1.9%. I've made about 9 payments so far."Did you forego some kind of rebate to secure the 1.9% loan rate? Do you have any other outstanding debt? If yes, what is(are) its interest rate(s)? Do you have a full-fundd emergency fund? Absent debt other than a mortgage, sugguested range is an amount equal to typical expenses for 3-6 months; some even suggest 12 months, especially if in an unstable job. Personally, I lean toward six months. have you fully funded you retirement accounts? 2004 is passed, except for IRA accounts. Will you fully fund 2005 retirement accounts?The classic response is to use the funds where it will reap you the most gain. It seems unlikely to me that paying 1.9% debt would be the best use of funds (while admittedly it may be so).Regards, JAFO
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