Everyone tells us we should save. Invest in your 401k. Don’t count on Social Security.
First things first.
Retirement savings is a huge important goal to have, but you also have to look at where you are currently at. Do you have a lot of debt right now? If so, how much are you paying in interest for credit cards? an 17% interest rate on a credit card versus starting to save for your retirement where you money will on average grow 8%, doesn’t make much sense. You are putting the carriage ahead of the horse. Pay down high interest debt first. Continue reading “Retire…how? When?”