1. groups
2. investments
3. Can you pay off debt and Plan for long term goals? Ask a Money Mentor (with Grady Wirth - Advisor, J.P. Morgan Wealth Management)

Can you pay off debt and Plan for long term goals? Ask a Money Mentor (with Grady Wirth - Advisor, J.P. Morgan Wealth Management)Video

Account Id: 4394098893001

Player Id: bb60d070-b695-4c55-9162-a421ad370a53

Video ADA Text: ADA text: How to manage debt and invest at the same time video

Transcript Browser Title: Video transcript: How to manage debt and invest at the same time

Description: Deciding how to allocate your money toward your debt or investments isn’t easy. Keep reading to learn how to decide which one you should prioritize.

English

Video Id: 6332194497112

Audio Description Video Id: 6332194405112

Length (seconds): 58

Transcript: <h2>On Screen:</h2> <p>Ask a Money Mentor.</p> <h2>On Screen:</h2> <p>J.P. Morgan Wealth Management logo.</p> <p><strong>Legal disclosures:</strong></p> <p>Investment and insurance products:</p> <ul> <li>Not a deposit</li> <li>Not FDIC insured</li> <li>Not insured by any federal government agency</li> <li>No bank guarantee</li> <li>May lose value</li> </ul> <p><strong>Announcer:</strong></p> <p>Can you pay off debt and plan for your long-term goals?</p> <h2>On Screen:</h2> <p>A man with dark hair and a short beard speaks to us from an office.</p> <h2>On Screen:</h2> <p>Grady Wirth.</p> <p>Advisor,</p> <p>J.P. Morgan Wealth Management.</p> <h2>Grady:</h2> <p>Short answer. Yes, it depends on your current financial state and your goals. I'd say think of a scale. If your investments earn a higher interest rate than your lower interest debts charge like student loans or mortgages, you may be able to lighten the debt load while investing.</p> <h2>On Screen:</h2> <p>Grady puts a coin on a scale, tilting it to the right.</p> <h2>On Screen:</h2> <p>Low Interest Debts - Pay down while investing.</p> <h2>Grady:</h2> <p>But if your debts have higher rates like credit cards, you may want to pay those down first.</p> <h2>On Screen:</h2> <p>He puts more coins on the other side of the scale, tilting it to the left.</p> <h2>On Screen:</h2> <p>High Interest Debts - Pay down before investing.</p> <h2>Grady:</h2> <p>You don't have to have a lot of money to invest for long term goals. Start small and chip away at debt while your investments grow.</p> <h2>On Screen:</h2> <p>He puts more coins on the other side of the scale – which balances it.</p> <h2>Grady:</h2> <p>It's a balancing act, but with the right strategy, you can work to reach both goals.</p> <h2>On Screen:</h2> <p>Reducing Debt While Planning For Long-Term Goals:</p> <ol> <li>You can pay off debt while investing for long-term goals.</li> <li>Create an investing/dept-payment strategy.</li> <li>(and) Your investments can start small.</li> </ol> <h2>On Screen:</h2> <p>J.P. Morgan Wealth Management logo.</p> <p><strong>Legal disclosures:</strong></p> <p><strong>Investing in securities involves market risk, including possible loss of principal, and there is no guarantee that investment objectives will be achieved. Outlooks and past performance is not a guarantee of future results.</strong></p> <p>J.P. Morgan Wealth Management is a business of J.P. Morgan Chase and Company, which offers  investment products and services  through <strong>J.P. Morgan Securities LLC</strong> (JPMS), a registered broker-dealer and investment advisor, member of FINRA and SIPC. </p> <p>Insurance products are made available through Chase Insurance Agency, Inc. (CIA), a licensed insurance agency, doing business as Chase Insurance Agency Services, Inc. in Florida.</p> <p>Certain custody and other services are provided by  JPMorgan Chase Bank, N.A. (JPMCB).</p> <p>JPMS, CIA, and JPMCB are affiliated companies under the common  control of JPMorgan Chase and Company. Products not available in all states.</p>

Thumbnail