Topsy

Should You Stop Funding Retirement to Focus on Debt? | Our Finance

This article is by GRS staff writer Adam Baker. In addition to his work at Get Rich Slowly, Baker blogs over at Man Vs. Debt, where he compiles the most famous and inspiring quotes on debt. This article is a part of National Save for Retirement Week, and a sort of follow-up to yesterday’s post about the choice between retirement or a down payment. Whether you should halt your retirement... moreThis article is by GRS staff writer Adam Baker. In addition to his work at Get Rich Slowly, Baker blogs over at Man Vs. Debt, where he compiles the most famous and inspiring quotes on debt. This article is a part of National Save for Retirement Week, and a sort of follow-up to yesterday’s post about the choice between retirement or a down payment. Whether you should halt your retirement contributions in order to focus debt is one of the most heavily debated dilemmas in personal finance. Unlike “spend less than you earn” or “track every penny you spend“, there’s no cookie-cutter answer to this question. Variables such as age, career, risk tolerance, and even personality type make each individual situation unique. You’ll never win a race against high-interest debt Regardless of your personal situation, there are very few circumstances where high-interest debt should not be the top priority. What’s high interest? Well, that’s another fun question to debate. For the purpose of [...] view page