Comments on: Should I pay off student loans or start a retirement account?

By: absteal

absteal — Wed, 08 Jul 2009 02:00:58 +0000

Start your IRA. Student loan interest is soo low, and doesn’t really affect your credit.

By: alwaysundersiege

alwaysundersiege — Mon, 06 Jul 2009 03:57:34 +0000

Pay off your loans first. Its simple, you’ll get more interest from the loans than you will from the IRA. The more you put it off, the deeper the hole you’ll be in.

Pay off large amounts of your college debt until it is completely gone then start putting money away for savings.

By: junkmail_625

junkmail_625 — Thu, 02 Jul 2009 19:26:25 +0000

Do some of each, if you can afford to. Pay the loans (the sooner you pay those off the less interest you’ll have to pay!) while putting the minimum into an IRA.

By: ☼AstrologerJuliAnne☼

☼AstrologerJuliAnne☼ — Tue, 30 Jun 2009 19:22:28 +0000

What interest are those student loans at? If it is really low, I would start a retirement account.

By: Worldly25

Worldly25 — Sat, 27 Jun 2009 17:46:44 +0000

Pay off the loans. Pay as much as you can afford each month. Once paid, keep writing a check for the same amount and deposit into an emergency savings account first. This should equal 8 to 12 months of salary. This is in case of job loss you can afford to live till finding another. Once that is done. Start your retirement savings.