BLUF: Does anyone have a good calculator and plan for loan payment strategies?
I have played around with a couple, but they're not great.
I have approx $130k in student loans remaining. The interest rate is 2.65%. Approximately 200 months remaining until repayment.
I am capable of paying off the loans fast, but I decided on focusing on saving for retirement and paying off my student loans on schedule.
As my future has become more firm, I am debating a change to the plan. I plan on retiring in 10 years (120 months)--summer 2032. I would like to have my loans completely repaid by that point. Or a separate account with the money saved for repayment.
Is it more efficient to overpay on the loans or to put my extra payment into a taxable brokerage to ensure that I have saved the necessary funds by the time that I retire?
I understand that it also relies on investments. I have looked at tax-free muni bond ETF's. But for this question I am looking at purely the calculator.
Thanks.