Start Investing or Pay Off Debt? 5 Times Debt Can Wait
Once you're no longer living paycheck to paycheck, you often face a big choice: Do you start investing or pay off debt first?
Eliminating debt saves money on interest and eventually frees up cash. But there's a huge opportunity cost when you delay investing until you're debt-free.
If you're 25 and you start investing $500 a month now, you'd have nearly $1.24 million by age 65 if you earned 7% returns. Wait until 35 to start making that $500 monthly investment and your nest egg would be just over $589,000 when you're 65.
Source Fool.com
