ARE STUDENT LOANS STRESSING YOU OUT?
With 2 in 5 families borrowing more than $50,000 for college, student debt can affect not only financial wellbeing, but short and long-term mental health. For many people, saving for retirement is delayed due to prioritizing paying down student loans.
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Our experience, through thousands of one-on-one fiduciary planning sessions each year, has been that the average retirement saver is often conditioned to prioritize their student loan payoff ahead of retirement savings. On the surface, it seems like the right path. However, that is not always an ideal solution.
"The reality is that it’s a give-and-take situation. If I focus on student loan payoff, it means sacrificing retirement savings, or sacrificing vacations, or sacrificing…fill in the blank. With more employers aligning their 401k and HSA offerings with technology we believe there is a path forward that allows for each of these goals to be addressed sooner than later."
-MJ Gross, Vice President
Laying it all out on the table and crafting a path forward is crucial to our future financial success. The below steps are critical:
Investment advice offered through OneDigital Investment Advisors, an SEC-registered investment adviser and wholly owned subsidiary of OneDigital. Some information has been obtained from sources we believe to be reliable. OneDigital Investment Advisors makes no representation as to the accuracy or validity of this information.