What's Considered "High-Interest" Debt in 2024?

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Retirement, Moneyadvice, Investing, Savingmoney, Personalfinance, Business

4.6 • 2.8K Ratings

🗓️ 17 April 2024

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

"I'm turning 40 soon and just discovered the FOO. What debt interest percentage is considered high interest debt?"

We'll walk you through that question and more in today's Q&A episode!

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Transcript

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0:00.0	Okay, next question is from Steps.
0:07.0	Next question is from Steps.
0:09.6	Steps?
0:10.6	Steps?
0:11.6	Like literally foot in front of the other foot?
0:13.0	Steps.
0:14.0	Okay, steps. Yes, sir.
0:16.0	Ready for the question?
0:17.0	I'm ready.
0:18.0	It's close to giving that a sound effect, but we didn't.
0:19.8	It says, when you're only starting to invest during the messy middle.
0:24.8	Are you supposed to pick the high yield, high risk portfolio
0:28.4	in order to catch up?
0:30.4	Or should it always start with conservative ones?
0:33.5	And I would say, okay, he's in the messy middle and he's trying to start.
0:37.5	What should he do?
0:38.5	Yeah.
0:39.5	Because there's two different things going on there.
0:40.5	There is where in the financial order of operations are you, but then also in addition
0:45.8	to order of operations, how should you invest allocation-wise, you know, with your investments?
0:50.7	I think that's a twofer.
0:51.7	Yeah, I think that first of all if you're in the
	...

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