Should I prioritize getting/staying out of debt or investing/saving for retirement?

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Posted by Olivia Woods (MONEY FORUMS: 4, Answers: 0)
Asked on April 21, 2016 11:38 am
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This is a question that many financial experts debate. I used to pay off debt and invest at the same time just to make sure I was taking advantage of my young age (so compound interest can work its magic better.) However, recently I switched to aggressively paying off debt and focusing on just that and once it’s gone, I’ll then focus on investing aggressively for retirement. I’ve found it’s easier this way and reaching the goals goes faster. I would say it’s up to the individual, the amount of debt you have, and how motivated you are to get rid of it. If you’re young you can prioritize debt repayment as long as you do it quickly.

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Posted by Catherine Alford (MONEY FORUMS: 0, Answers: 23)
Answered: April 21, 2016 10:40 pm
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