For those of you who have a large amount of Student Loan Debt, like I do, are you able to save for retirement while paying off your loans? I haven't really put anything aside for retirement yet 😬

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Barely. Students loan payments are one reason but the main reason is the ridiculous cost of living (SoCal)

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I’m saving for retirement and paying down loans, but only because I still live with my parents. It sucks, but there’s no way I’d be able to survive on my own yet. Hoping to find a better paying position soon

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Honestly, between the high cost of living and my never ending student loan payments, I have not been able to save anything. I am not just taking about putting savings in my 401k or other retirement accounts, I have no savings of any kind. I have the money I have in my sad little bank account and that is it! So, yeah, I have my worries.

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My firm matches 3% but I’m doing 8% right now. I have minimal savings (3m in case of emergency) but the goal is to pay off in 10 years so then I can throw my current loan payments towards retirement/other savings

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See if your employer participates in section 2206 of the cares act

What is that? Can you explain 🤔

Yes but painfully and it was a slow slog. In my first job, I could not at all as a new grad on a low salary with loans and living expenses in HCOL city. In my second job, I was able to put 6% or whatever the firm matched. It is only in my current role I am able to max out my 401K and put an equal amount in my student loans. This exhausts almost all of my discretionary income since I still need to pay for rent and basic necessities with an occasional dinner out or trip to see my parents/siblings.

I was not. I put the minimum into my 401k. My firm doesn't match; only does the sage harbor.

Yes. I started a Roth IRA, contributed $100 per month then gradually increased

With cost of living, I can’t save for retirement at all. I can barley save, period

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