I’ve always joked around that I’ll get my student loans paid off just about the time I retire. Sadly, it looks like that’s not far from the truth. When you consider that my education cost just about half of what our house cost, and we’ll have that paid off in another 30 years… If I keep paying $160 toward interest and $15 toward principal, that’s about when I’ll have my student loan paid off, too.
The good news, though, is that I have a pretty good start on my 401(k) plan. Just gotta stay with Sky for another three years to become fully vested and reap the rewards of the sweet, sweet profit sharing.
Not to be a financial evangelist, but considering that Social Security could well be defunct by the time we young’uns retire, I would highly recommend that you—yes, you—enroll in your company’s 401(k) plan, if they have one. It’s worth it to save early—I only put back $50 a month, and I’ve already got a pretty decent chunk of change in my plan. Might even keep Aaron and me sated for an entire month or two of retirement! 🙂
Points to ponder…