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Lumifer comments on Open Thread, June 2-15, 2013 - Less Wrong Discussion
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For recent college graduates, their best investment opportunity is early repayment of their student loans. It's essentially guaranteed 4-5% return (whatever their loan rate happens to be). Note that this "investment" is completely illiquid.
That's often but not necessarily true, especially on a post-tax basis (and especially if your alternative is putting money into tax-advantaged vehicle like 401(k) or IRA).