3) Pay off Student Loans
Student loans can linger for an entire lifetime, sapping your financial strength and earnings. The cost of these loans has risen dramatically in recent years. As a result, many people will have their retirement savings undermined by student loan repayment obligations. Rid yourself of this major source of debt and financial stress, however, and you can get a robust jump start on building a solid retirement nest egg. Thanks to recent legislation there are options for refinancing a student loan, whether it is private or federal. Shifting into a lower-interest loan can save you many thousands of dollars over the life of that loan. If that is a possibility for you, do it. You will be able to reap the rewards by having an easier financial path to retirement.
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