Question: Is it smarter to save money to pay off debt or start an IRA at 28 YRs. old? I am 28 and have about 33K in debt and don't make too much money, about 50K and have a mortgage.  I know an IRA is a smart move, though what about that pesky debt with high interest?

Answer: What kind of debt are you talking about?  If you're talking about high interest credit card debt, then pay it off first.  If you're talking about a mortgage, a car loan, maybe a low interest school loan, then I would tell you to invest some monies.  I always advise my clients not to pay off their mortgage early.  It's nice having the tax deduction of the interest, and if you take a long time to pay off the mortgage, you're paying it off with money that has been eroded by inflation.   \nIf your company offers a 401k, go into that before an IRA.  Also, if your company offers you a retirement plan, you would only be able to do a Roth IRA and are limited to what you can invest.\nConsult a financial profession to evaluate your individual situation and help you make the right choice.
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