Mailbag: I’m in $13,000 worth of debt, should I pause my retirement savings to pay it off?
Description
Today we are bringing you a mailbag with listener Amy. She’s in her early 40s and she is wondering if she should hit the brakes when it comes to saving for retirement because of the other things on her plate. She's working on paying down credit card debt and she wants to be able to afford to move into a nicer home.
So, what's the order of operations here? We’ll dive into some timely advice for her.
Chapters:
00:00 Introduction to Financial Priorities
02:57 Understanding Current Financial Situation
06:00 Exploring Debt Management Strategies
09:07 Retirement Contributions and Future Planning
12:12 Real Estate Considerations and Options
Have a personal finance question for us or want to jump on a call with Jean so you can get all of your follow-up questions answered? Write in at mailbag@hermoney.com.
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Thank you to Gainbridge® for supporting the HerMoney podcast. Gainbridge® created ParityFlex™, a multi-year guaranteed annuity, to offer women security and flexibility at a time when they need it the most—retirement. Learn more about ParityFlex™ here.
The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney.
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