Wait, has anyone ever recommended to stop retirement contributions, but keep luxuries, to get out of debt? Never heard that one.
Usually, it's all of the above.
As others mentioned, debt could be a rather losing battle at high interest rates - better to just tackle it and move on. Thing about retirement is that it tends to be a large figure. Probably larger than most things you can cut in your budget.
I also agree with the sentiment of cutting retirement, because to us, some of our retirement is necessary, and some is luxury. Putting 20% to retirement is a luxury we choose over other things. It's easy to cut if times get tougher. We've never put in less than 10%. I'd consider 10% the "necessary" part. The other 10% I would cut in a pinch. It's easy to cut and it's a large figure.
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