Washington money writer can afford to pay off his student loans, but he won't. How to know if his logic works for you

Core Insights - The article discusses a financial decision made by Ryan Ermey regarding his student loan and investment strategy as he prepares for a wedding in 2027 [1][2][3]. Financial Strategy - Ermey has shifted his financial strategy from investing extra savings to saving for his upcoming wedding, leading to a significant cash position [2]. - He is currently making minimum payments on his student loan, which has an interest rate of 6.55%, and will not be fully paid off until late 2027 if he continues this approach [3][4]. Expert Opinions - Financial planners generally advise paying off high-interest debt, such as Ermey's student loan, given that his savings account earns only 3.4% interest annually [5]. - The guaranteed return from paying off the student loan at 6.55% is considered more beneficial than potential earnings from savings accounts or investments [5][6]. Investment Returns - Historical data indicates that a diversified U.S. portfolio has yielded a 7.1% return over 30 years, while an aggressive portfolio in the S&P 500 has returned 10.5% [7].