An article featured in USA Today shows why letting daily expenses get in the way of retirement savings is a big (and common) problem. The issue: the later you start saving, the harder it will be to comfortably retire —or to retire at all.
The piece, which cites research conducted by Nitro, shows that over 40% of Gen Xers and Baby Boomers have not started saving retirement.
Many Millennials may put off saving for retirement in favor of paying down student loan debt. However, that strategy doesn't allow retirement funds adequate time to grow.
What can you do instead? To make sure you're on track for retirement while paying off student loan debt, check out some of our articles on how to lower student loan payments to increase your monthly cash flow.
4 Ways to Lower Student Loan Payments
4 Income-Driven Payment Plans that Lower Monthly Payments
Is Student Loan Refinancing Right for You? Take This 7-Question Quiz to Find Out