Mailbag: I’m in $13,000 worth of debt, should I pause my retirement savings to pay it off?

HerMoney with Jean Chatzky

Jean Chatzky Her Money

Investing, Entrepreneurship, Business

4.8 • 1.3K Ratings

🗓️ 22 October 2024

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today we are bringing you a mailbag with listener Amy. She’s in her early 40s and she is wondering if she should hit the brakes when it comes to saving for retirement because of the other things on her plate. She's working on paying down credit card debt and she wants to be able to afford to move into a nicer home. So, what's the order of operations here? We’ll dive into some timely advice for her. Chapters: 00:00 Introduction to Financial Priorities 02:57 Understanding Current Financial Situation 06:00 Exploring Debt Management Strategies 09:07 Retirement Contributions and Future Planning 12:12 Real Estate Considerations and Options Have a personal finance question for us or want to jump on a call with Jean so you can get all of your follow-up questions answered? Write in at [email protected]. Learn more about our Finance Fixx program here. Use code PODCAST for a $100 discount. Thank you to Gainbridge® for supporting the HerMoney podcast. Gainbridge® created ParityFlex™, a multi-year guaranteed annuity, to offer women security and flexibility at a time when they need it the most—retirement. Learn more about ParityFlex™ here. The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney. Please contact [email protected] if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	You're listening to an airwave media podcast.
0:04.0	Are you on track for the retirement you want?
0:08.0	An election year is a great time to pause and review your progress toward your retirement goals.
0:14.3	Schedule a complementary retirement review with an Edelman Financial Engines wealth planner
0:19.5	and they'll also give you a financial plan made just for you.
0:23.4	See if you're on track to meet your goals
0:25.3	and what opportunities you might be missing.
0:28.3	To get started, go to planee.com.
0:31.4	This offer expires October 25th, so don't miss out. Schedule yours today.
0:37.0	Hey everyone, I'm Jean Chatsky. Thanks so much for joining us today on her money. Today we are bringing you a mail bag question with
0:45.2	one of our listeners. Amy is calling in from Colorado you know that I love it
0:50.3	when I get to talk to you face to face. Anyway, Amy's in her early 40s and she is wondering if she should hit the breaks when it comes to saving for retirement because of the other things on her plate. She's got some
1:04.4	credit card debt. She wants to be able to afford to move into a nicer home.
1:10.7	What's the order of operations here? We will dive into some timely advice for her, but before we get into it, we're going to take a very quick break.
1:20.0	Her money is proudly sponsored by Edelman Financial Engines. An election year is a great time to pause and review your progress toward your retirement goals.
1:31.0	Whether retirement is a few decades away or right around the
1:34.9	corner you need a plan for your money to help make sure you have enough saved and
1:39.6	invested to do and see and experience what you want most.
1:44.0	It's time to make sure that your money is working for you.
1:48.0	And to give yourself the peace of mind that your retirement income can last as long as you do.
1:53.6	And now is an especially good time because Edelman Financial Engines is running a special offer.
2:00.8	Schedule a free retirement review with a wealth planner and they'll also give you a financial plan made just for you.
	...

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