Should you pay off debt or invest? This is a common question I receive, and it is a difficult one to answer because every situation is different.
You may have students loans, a mortgage, car loans, credit card debt, furniture debt, medical loans, or something else. Whatever your debt may be, I’m sure you are, hopefully, thinking about your debt payoff plan.
Paying off your debt is a great thing to think about. However, where does investing come in to your overall financial plan? Paying off debt may take what feels like forever, so you may not want to completely ignore saving for retirement and investing while you pay off your debt.