September 24, 2012

To save for retirement or pay off debt? THAT is the question.

Many young folks out there face this dilemma. For a number of reasons our younger generation finds itself loaded with debt.  Talk to any financial advisor and they will explain to you the many benefits of starting to save for retirement at an early age.  So how do you do this if you have debts to pay off?  The following article has some good advice you should check out if you find yourself in this situation.

If you decide to tackle your debt first, you should also consider whether attempting to settle your debts may be an option.  You may be able to settle the debts for less than what’s actually owed you could put that savings into your retirement fund.  Contact a lawyer skilled in this area of law to determine if you might be a good candidate for a credit card debt workout.