I am married and am the mother of two beautiful girls. I am currently a freelance writer.

Personal Finance > Managing Debt Should you pay down debt or invest more?

21 of 22

Of course, the answer to this question depends on how much debt you have and how fast it could be paid off. The only reason for investing before paying debt would be if you are nearing retirement and don't have anything invested yet. If this is the case, pay only the minimum balance on all of your debt and throw any leftovers into an IRA or 401k. If you are over fifty and have no savings yet, don't open an IRA that is mostly stocks, unless you are willing to take a major gamble.
If you are under thirty and have a large debt, try putting a few hundred dollars a month into an IRA that is mo...

More..