How to Juggle Debt & Retirement


Join our #CreditChat on Twitter and YouTube every Wednesday at 3 p.m. ET. This week, we had a chat with Jill Schlesinger, CBS News Business Analyst & Host of Jill on Money. She shared her insights on how to juggle debt while investing for the future.

During this tweetchat, we also had a Google+ YouTube hangout with: Jill Schlesinger, Gail CunninghamNational Foundation for Credit Counseling, Tarra JacksonMadam Money, Stephanie HalliganEmpowered DollarShannon McNayReadyForZero,  Rod Griffin – Director of Public Education at Experian, and Mike Delgado – Social Media Community Manager at Experian.

Questions we discussed:

Q1: What are the easiest debts to fall into? Can they be avoided?
Q2: How does emotion impact the way we spend money? What mistakes can we make?
Q3: What advice do have for those struggling with debt?
Q4: How do you decide how much money should go toward retirement vs paying off debt?
Q5: How often should we track our finances? How much time does it take?
Q6: What are some mistakes to avoid when investing for future?
Q7: Where can we learn about smart ways to invest and plan for retirement?
Q8: Do you have any favorite tools or resources to help with investing?
Q9: Any final tips for those wanting to pay off debt and invest for the future?

 Highlights:

Tweetable Tips:

Not having an emergency fund can result in unexpected debt. [Retweet]

Avoid emotional spending at all cost. [Retweet]

If stuck with a debt load with high interest rates, focus on paying that off first. [Retweet]

Don’t ignore debt. Face it head it on with a plan. [Retweet]

Tackle saving and debt pay down simultaneously. [Retweet]

Don’t pull money out of 401(k) or taxable investments prematurely. [Retweet]

Don’t wait to start investing – or you’ll miss out on compounding interest. [Retweet]

Check out the complete tweetchat:

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