Best Way to Save for Retirement When You Are in Debt
Getting (and staying) out of debt and saving regularly for retirement are some of the most important personal financial habits that everyone should be doing, but having a finite income with conflicting financial priorities understandably complicates matters. If you have student loans, a running balance on your credit cards, or other outstanding debts in the 4+ figures range, how should you balance your debt repayment plan (short-term goal) with your retirement savings plan (long-term goal)? What is the best way to save for retirement when you are in debt? Best Way to Save for Retirement When You Are in Debt The answer to this ultimately depends on the amount of debt and the interest rate you’re paying. Still, a generally … Read more