Pay Off Student Loans or Save for Retirement: Which Should Take Priority?
As estimated 43.5 million Americans owe money in student loan form. If you're one of them, those monthly payments no doubt monopolize a good chunk of your income. And that, clearly, is apt to make it more difficult to save for other goals.
You may decide to put off buying a home until your student loans are nicely whittled down. And you may even decide to hold off on having kids until you've managed to shed a larger chunk of your student debt.
But what about retirement savings? Should you start funding a nest egg while grappling with student loans? Or should you pump all of your extra money into those loans to shed that debt sooner?
Source Fool.com
