Securing her financial future amidst uncertainty.
Dr. Sharma, burdened with $280,000 in student loan debt, is concerned about potential interest rate hikes that could significantly increase her monthly payments. She wants to explore strategies to mitigate this risk while continuing to grow her medical practice and maximize her retirement savings through her 401k and backdoor Roth IRA.
Using the Forward Rate Calculator, Dr. Sharma and her advisor analyzed the implied forward rates based on current yield curves, predicting a potential 1.5% increase in interest rates over the next two years. This insight prompted Dr. Sharma to explore refinancing options now, potentially locking in a lower fixed rate and saving thousands over the loan's lifespan, and further analyzing the interest rate parity using Golden Door Asset's tools.
The advisor inputted current interest rates and maturity dates for comparable debt instruments into the Forward Rate Calculator to project future interest rate expectations. The Interest Rate Parity Calculator was also utilized to examine the relationship between interest rates and exchange rates, providing a broader economic context for the decision.
$18,000 in projected interest savings over the next 5 years by refinancing her student loans before the anticipated rate increase.
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