If you proceed to open an account at Alphavest, it will be our understanding that you have read the above and have determined that you are not investing at the expense of making minimum payments on your debt or paying off high interest debt. A good rule of thumb is to keep your total debt payments below one-third of your gross income. Debt can be a valuable tool to help you reach your goals faster (such as a mortgage on a house), but it should be used in moderation. Not all debt is bad or should be viewed as a barrier to investing. Once high interest debt is eliminated, it makes sense for most people to consider investing. In general, any debt with an interest rate of 5% or above(1) is considered high and you should typically pay off that debt before investing. ![]() Louie Anthony Scafella Arrest Mugshot NCRJ The. Paying these debts down is equivalent to a guaranteed 15% rate of return on your personal balance sheet. John Salvatore Folio Arrest Mugshot NCRJ, West Virginia Most. ![]() The average interest rate on credit cards is 15%. Second, you should typically make sure that you have enough cash to pay off the monthly balance on your credit cards before investing. For other debt like credit cards, the minimum payment is listed on your statement. Our Values: We have built our company around core values: About Us We are revolutionary and pioneering, but we’re not new. For some debt like mortgages, this would be the full payment. Not doing so can lead to penalties and added interest, in addition to ruining your credit score. As much as we would love everybody to become a Alphavest customer, there are certain situations where you should pay off debt before you open an account with Alphavestįirst, you should make at least the minimum payment on all debts before investing. 2023 by Folio Financial, Inc., a Goldman Sachs Company. Choosing whether to invest or pay down debt is a common question. Folio Institutional 8180 Greensboro Drive 8th Floor McLean, VA 22102.
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