Newspaper article The Topeka Capital-Journal

Working Two Jobs Helps Catch Up on Savings

Newspaper article The Topeka Capital-Journal

Working Two Jobs Helps Catch Up on Savings

Article excerpt

Dear Bruce: I started saving late in life, so now I'm playing catch-up. I am 45, have about $95,000 in a 401(k), $5,000 in a Roth and I am working a second job to bring in more money. My income is approximately $60,000 combined. I have a mortgage of $45,000, student loans totaling $35,000, and no other loans or credit card debt. Also, I have $13,000 in savings.

I don't know what I should do with my extra money, whether I should pay down my student loans or pay off the mortgage. I don't know how much longer I can keep working two jobs, but I want to keep with it for at least five years. Also, I want to sell my condo and buy a small house in a few years. -- Reader

Dear Reader: It sounds to me like you've a good handle on things. …

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