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One of the best ways to build wealth for retirement is to invest.
Putting money in a retirement account now is a good way to get a good start on building a nest egg that leads to financial independence later.
But what if you have debt?
Can you invest when you have debt and feel broke AF? Does it make sense to pay off your debt before you begin investing?
This week, we talk about the considerations that come when trying to decide whether or not to start investing when you still have debt.
- The importance of investing.
- Ways debt can slow you down.
- Are you really ready to invest?
- Can you balance paying down debt with investing?
- Have you taken care of other areas of your finances, like an emergency fund?
- Tips for making investing more effective.
- How to decide if it makes sense to invest instead of pay down debt early.
- Different types of debt and which you should tackle first.
- The importance of being able to sleep at night.
Don’t forget to listen to our “Do Nows” this week. We’ll take a look at how to create a debt payoff plan, open an investment account, and assess how much you need to start saving today to hit your retirement goals.
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Edited and mixed bySteve Stewart