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Should I max out my 401(k) contributions or make principal payments on student loan debt?

I am 25 years old and currently putting about $6,000 per year into my 401(k). Between my wife and I, any extra income goes towards principal payments on $90,000 of student loans. Should I max out my 401(k) contributions for a certain number of years to boost the size of my 401(k) while I am still young instead of putting it toward the extra principal payments on the student loans? Or should I continue to put the extra income towards the student loan principal and keep my 401(k) contributions how they currently are?

College Tuition, Debt, 401(k)
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July 2018

I'd recommend only contributing enough to your 401k to get the company match.  Any additional funds should be dedicated to debt elimination.  Eliminating the student loans will increase your monthly net cash flow and allow you to save a serious amount of money each month!

Thanks for the question and best of luck!

 

July 2018
July 2018
July 2018
July 2018