Thread: IRA & long-term savings vs. Paying all CC debt?
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Old 02-12-2006, 12:41 AM
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Bluezy Bluezy is offline
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Default Re: IRA & long-term savings vs. Paying all CC debt?
You subtract $458 in interest from your $1700 per month in "free money". In reality you have only $1242 per month that is free.

Pay down all debt ASAP. You won't be financially healthy until you pay down that debt.
At 28 you won't be retiring soon, so contributing to any 401k's, Roths, IRA, etc. can be resumed once you are debt free. However, I would place some of the funds into your emergent account to avoid using those credit cards!
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