Comments on: Four Simple but Costly Money Mistakes http://www.moneyunder30.com/four-simple-but-costly-money-mistakes Simple, Honest Financial Advice Thu, 09 Feb 2012 22:53:06 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: David Weliver http://www.moneyunder30.com/four-simple-but-costly-money-mistakes/comment-page-1#comment-3900 David Weliver Tue, 15 Dec 2009 13:42:59 +0000 http://www.moneyunder30.com/?p=3937#comment-3900 A valid point, Edwin. I've usually been of the philosophy that one should start putting *something* away for retirement to get in the habit of doing it, even if you still have debt. I would hope that investing in stocks wisely would beat 6.5% over the long run, but it may not beat a higher credit card interest rate. Debt Free Adventure has a great article debating exactly this topic today: <a href="http://www.debtfreeadventure.com/debt-reduction-vs-retirement-savings-for-bruce-and-you/" rel="nofollow">Debt Reduction vs. Retirement Savings</a>. A valid point, Edwin. I’ve usually been of the philosophy that one should start putting *something* away for retirement to get in the habit of doing it, even if you still have debt.

I would hope that investing in stocks wisely would beat 6.5% over the long run, but it may not beat a higher credit card interest rate.

Debt Free Adventure has a great article debating exactly this topic today: Debt Reduction vs. Retirement Savings.

]]> By: Edwin http://www.moneyunder30.com/four-simple-but-costly-money-mistakes/comment-page-1#comment-3889 Edwin Mon, 14 Dec 2009 23:23:35 +0000 http://www.moneyunder30.com/?p=3937#comment-3889 When it comes to retirement savings, I would first recommend paying off student loans or other debts accrued during school. This particularly applies right now where you might have a 6.5% interest rate on your student loan debt but would be lucky to squeeze that out of an investment. When it comes to retirement savings, I would first recommend paying off student loans or other debts accrued during school.

This particularly applies right now where you might have a 6.5% interest rate on your student loan debt but would be lucky to squeeze that out of an investment.

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