You graduated with lots of student debt but you’re finally making a decent living. You have money left over at the end of the month and want to pay down your debt.  But, you’re around 30ish and also want to save for retirement. Student debt hangs over your head like the sword of Damocles and you want nothing more than to get rid of it, and after all, retirement is many years off, so why should you worry about it? Maybe you should just go and pay down your debt using the excess income and move on to retirement once you’ve eradicated your loans…

Well, according to the experts, that may not be the greatest idea. You see, the earlier you start on your retirement, the more you can take advantage of the compound interest, the interest that grows upon itself.

My opinion on the matter is far less important than those in the financial field, so here are a couple of great articles to help you on your journey. I just figured it was a helpful subject to broach.

1.    http://money.cnn.com/2016/04/21/pf/save-for-retirement-or-pay-down-student-loan-debt/index.html

2.    https://www.forbes.com/sites/zackfriedman/2017/03/15/pay-off-student-loans-save-retirement/#4d2af159110f

3.   https://studentloanhero.com/calculators/student-loan-payoff-vs-invest-calculator/

4.    http://www.benefitspro.com/2017/05/18/student-loans-vs-retirement-savings-makes-for-toug

5.    https://www.fool.com/retirement/2017/05/18/should-i-repay-student-loans-faster-or-save-for-re.aspx

Of course, always have this discussion with your financial advisor because of the ever present tax ramifications.

Best wishes,

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Glenn

If you want to come to learn more about an amazing business meeting for orthodontists, simply visit OP2018.com . We’ve got a world-class lineup of speakers, amazing food and an ambiance that will make you want to come back year after year. You can always email me at Glenn@OrthopreneursRD.com or message me on Facebook. I’m here to help.

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