“Yes, debt can be costly, but failing to save for retirement ultimately will cost far more.” Today’s article outlines seven reasons – including missing out on employer 401(k) matches and compounded growth that can never be recouped – why delaying retirement savings in favor of paying off certain types of debt (i.e. “low-rate, potentially tax-deductible debt”) may be an unsound strategy. What are all seven considerations? And when it comes to paying off high-rate “toxic debt” what is the maximum number of years the author believes people should put saving for retirement on hold? CLICK HERE to read more.
