Fri, November 29, 2024
[ Fri, Nov 29th 2024 ]: Bill Williamson
EPFO's Central Board of Trustees to meet on Novem .. veral investment related decisions to be taken up
[ Fri, Nov 29th 2024 ]: Bill Williamson
ERP vs CRM: Understanding the Key Differences
[ Fri, Nov 29th 2024 ]: Bill Williamson
I put my dreams on hold for a stable career in fi .. 6-figure salary to move to Hawaii and start over.
[ Fri, Nov 29th 2024 ]: Bill Williamson
Zenith Bank Expands Global Footprints With Paris Branch Launch
[ Fri, Nov 29th 2024 ]: Bill Williamson
CreditAccess Grameen enters into co-financing arrangement with DEG and Citi
[ Fri, Nov 29th 2024 ]: Bill Williamson
ESAF Small Finance Bank facing significant asset quality stress, mainly in Tamil Nadu and Kerala
[ Fri, Nov 29th 2024 ]: Bill Williamson
Lombard Odier indicted in Switzerland over money laundering
[ Fri, Nov 29th 2024 ]: Bill Williamson
Dos and don'ts of borrowing from lending apps: Tips for safe and smart borrowing
[ Fri, Nov 29th 2024 ]: Bill Williamson
Finance adviser calls for inclusive public financial management reform
[ Fri, Nov 29th 2024 ]: Bill Williamson
Traffic management firm secures asset finance backing to fuel growth
[ Fri, Nov 29th 2024 ]: Bill Williamson
Nisus Finance Services SME IPO: Issue opens on December 4; check key details
[ Fri, Nov 29th 2024 ]: Bill Williamson
BoE finds potential vulnerabilities in financial market plumbing
[ Fri, Nov 29th 2024 ]: Bill Williamson
Why Trump could be good for South Africa
[ Fri, Nov 29th 2024 ]: Bill Williamson
Bank of England finds some vulnerabilities in probe of central counterparties
[ Fri, Nov 29th 2024 ]: Bill Williamson
RIL gains 2% as US based arm picks 21% stake in Wavetech Helium
[ Fri, Nov 29th 2024 ]: Bill Williamson
UBA to begin full banking operations in France
[ Fri, Nov 29th 2024 ]: Bill Williamson
The films, shows, and books Wall Streeters think best illustrate their work lives
[ Fri, Nov 29th 2024 ]: Bill Williamson
IIFL Finance to raise upto Rs 500 cr via NCDs
[ Fri, Nov 29th 2024 ]: Bill Williamson
Istanbul Metropolitan Municipality to hold investor meets in UAE and Doha
[ Fri, Nov 29th 2024 ]: Bill Williamson
Players and powerhouses shaping Africa's VC landscape
[ Fri, Nov 29th 2024 ]: Bill Williamson
Otley Girlguiding unit receives grant from Skipton firm
[ Fri, Nov 29th 2024 ]: Bill Williamson
Exclusive: HSBC pulling back from China credit ca .. business after struggling to expand, sources say
[ Fri, Nov 29th 2024 ]: Bill Williamson
Reliance subsidiary acquires 21% stake in US helium gas exploration, production company
Thu, November 28, 2024
[ Thu, Nov 28th 2024 ]: Bill Williamson
Magnati partners with Aafaq Islamic Finance to support SMEs with embedded financial solutions
[ Thu, Nov 28th 2024 ]: Bill Williamson
Best Investing Books of 2024: Guide to Trading
[ Thu, Nov 28th 2024 ]: Bill Williamson
Mexico warns Trump tariffs would kill 400,000 US jobs, threatens retaliation
[ Thu, Nov 28th 2024 ]: Bill Williamson
COP29: Why Leaders of Poor Countries Walked Out of Climate Change Conference
[ Thu, Nov 28th 2024 ]: Bill Williamson
Insurance regulator concerned on business concent .. om banks; may ask insurers to reduce banks' share
[ Thu, Nov 28th 2024 ]: Bill Williamson
Ujjivan Small Fin up 9% on selling stressed loan portfolio worth Rs 270 cr
[ Thu, Nov 28th 2024 ]: Bill Williamson
Standard Chartered CEO: US tariffs will be disruptive, but 'markets will equilibrate'
[ Thu, Nov 28th 2024 ]: Bill Williamson
Has China Become the New Japan and Japan the New China?
[ Thu, Nov 28th 2024 ]: Bill Williamson
HC notice to Delhi Govt on PIL seeking to implement Ayushman Bharat plan
[ Thu, Nov 28th 2024 ]: Bill Williamson
Finance ministry weighs removing windfall tax amid falling crude prices
[ Thu, Nov 28th 2024 ]: Bill Williamson
Major marketers halt petrol import, lift 148 million litres from Dangote Refinery
[ Thu, Nov 28th 2024 ]: Bill Williamson
UM Health to shut down insurance plan that came with Sparrow acquisition
[ Thu, Nov 28th 2024 ]: Bill Williamson
New Orleans business owners bond out several low-level offenders before Thanksgiving
[ Thu, Nov 28th 2024 ]: Bill Williamson
Blackstone: Extreme Bubble Valuation
[ Thu, Nov 28th 2024 ]: Bill Williamson
Czech billionaire closes in on deal to buy Royal Mail
[ Thu, Nov 28th 2024 ]: Bill Williamson
BPI named Sustainability Company of the Year' at Asia CEO Awards 2024
[ Thu, Nov 28th 2024 ]: Bill Williamson
Cayman told not to kill business goose that lays the golden eggs
[ Thu, Nov 28th 2024 ]: Bill Williamson
Best Budgeting Apps for December 2024: Top Picks, Features, and Benefits
[ Thu, Nov 28th 2024 ]: Bill Williamson
Mortgage mayhem warning as major lenders Barclays and Santander split on home loan rates
[ Thu, Nov 28th 2024 ]: Bill Williamson
Sonata Software bags multi-million dollar transfo .. ation deal from global leader in access solutions
[ Thu, Nov 28th 2024 ]: Bill Williamson
BlackRock agrees to buy private credit group HPS Investment Partners
[ Thu, Nov 28th 2024 ]: Bill Williamson
Mizuho weighs new push to target private equity boom in India
Wed, November 27, 2024
[ Wed, Nov 27th 2024 ]: Bill Williamson
Adani allegations shine spotlight on India's clean energy conundrum
[ Wed, Nov 27th 2024 ]: Bill Williamson
XRP News Today: XRP Eyes $2 as ETF Momentum Builds; BTC Revisits $97k
[ Wed, Nov 27th 2024 ]: Bill Williamson
Amazon.com (AMZN) and Philips Expand Collaboration: AI-Powered Diagnostics in the Cloud

I opened a business and am suddenly making over $400k in profit - should I pay off my cars and mortgage? Dave Ramsey weighs in

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them. 24/7 Wall St. Key Takeaways: Financial freedom doesn't happen by itself.
The article on 247wallst.com discusses a scenario where an individual has recently started a business that is now generating over $400,000 in profit. The person is contemplating whether to use this newfound wealth to pay off their cars and mortgage. The article provides insights from financial experts on this dilemma. They suggest considering several factors before making such decisions: the interest rates on the loans, the potential for investment returns, tax implications, and the psychological benefits of being debt-free. Experts generally advise against rushing to pay off low-interest debts like mortgages if the money could be better invested elsewhere for higher returns. However, they acknowledge the peace of mind that comes with being debt-free, especially for high-interest debts like car loans. The article also touches on the importance of maintaining an emergency fund, the benefits of diversification in investments, and the potential for reinvesting in the business for further growth. Ultimately, the decision should align with the individual's financial goals, risk tolerance, and long-term financial strategy.

Read the Full 24/7 Wall St Article at [ https://247wallst.com/personal-finance/2024/11/28/i-opened-a-business-and-am-suddenly-making-over-400k-in-profit-should-i-pay-off-my-cars-and-mortgage/ ]