Especially for debt-saddled Millennials emerging from college into the workforce, it can be difficult to decide how to save for retirement while paying back loans. Consumers may fear that prolonging repayment will result in more debt accrued from interest, but many Americans hurt themselves long-term by not putting money into 401(k)s or IRAs. That's because the power of compound interest in those retirement accounts over a worker's lifetime is significant. In short, Americans cannot ignore planning for the future even while settling up on borrowed money. But how exactly do you prioritize and strategize? MainStreet guides you through.
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