Debt vs. Retirement: How Much Should You Put Toward Each?

You know that retirement planning is important, but should you be putting away for retirement while you still have a lot of debt? In most cases, it’s best to work on planning for retirement and debt eliminating. However, the amount you put toward each option will depend on many different factors. For example, your age may make your retirement fund a priority or the amount of debt owed could make paying down debt the greater priority. Here’s a closer look at saving for retirement and paying off debt, as well as a few tips to help you decide how much you should be putting towards each.

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