Comments on: Financial Question Of The Day #10 http://www.moneycrashers.com/financial-question-of-the-day-10/ Personal Finance Blog, Your Guide to Financial Fitness Thu, 09 Feb 2012 19:29:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: authorhttp://www.moneycrashers.com/financial-question-of-the-day-10/#comment-5521 author Thu, 07 Feb 2008 02:25:54 +0000 http://www.moneycrashers.com/financial-question-of-the-day-10/#comment-5521 it wouldn't be a bad thing to start contributing to your 401k to get a match while you were paying off debt, just don't put like 15% towards it. Put 5 or 6 percent towards it and focus on paying off the debt. Then, you'd get the best of both worlds. it wouldn’t be a bad thing to start contributing to your 401k to get a match while you were paying off debt, just don’t put like 15% towards it. Put 5 or 6 percent towards it and focus on paying off the debt. Then, you’d get the best of both worlds.

]]> By: Chief Family Officerhttp://www.moneycrashers.com/financial-question-of-the-day-10/#comment-5520 Chief Family Officer Wed, 06 Feb 2008 22:12:01 +0000 http://www.moneycrashers.com/financial-question-of-the-day-10/#comment-5520 This is a tough one because I really want to do both. And I'm 25ish years from retirement. A few years ago, I calculated our "retirement number" and made sure that we're on track to meet the minimum of that range, and since then we've done that minimum and directed everything else toward paying off debt. So I guess I agree with you that debt payoff comes first, but I also think that a person should put some money into retirement savings at the same time so that there is some progress/cushion there too. This is a tough one because I really want to do both. And I’m 25ish years from retirement. A few years ago, I calculated our “retirement number” and made sure that we’re on track to meet the minimum of that range, and since then we’ve done that minimum and directed everything else toward paying off debt.

So I guess I agree with you that debt payoff comes first, but I also think that a person should put some money into retirement savings at the same time so that there is some progress/cushion there too.

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