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It’s an age old and question: should you pay down debt first or invest any extra money instead? It isn’t always a straightforward decision as debt often causes stress. Often, you compare the interest being paid on the debt to the expected rate of return on the potential investment and put the money towards the one with the higher percentage. But there is another important factor to consider when analyzing the numbers and making a decision.

Use The Pay Down Debt or Invest Calculator to compare the after-tax cost of debt to the after-tax rate of return on investments, so you can see whether paying off the debt or investing is the best choice.

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