84% of borrowers say student loans are tanking their retirement savings. (via CNBCMakeIt)
"I'm convinced that time travel does not exist in the future," Pearson says. "If it did, there would be a whole lot of pre-retirees coming back to tell their 2019 self why it's critical to balance savings and debt repayment simultaneously."Yet setting aside 10% of your income, especially in your 20s, can be a challenge.
If that's you, then it may work best for you to put a majority of your money towards your student loans. Those with high interest rates may also want to prioritize paying down the loan. "That's really going to drag your finances down unless you get it paid off early," Goedtel says.
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