Empower Retirement says its new student loan repayment solution can help individuals take action to achieve better financial security through smarter debt management.
There are arguments on both sides regarding whether paying down debt should be priority over saving for retirement or vice versa.
Student debt hurts the financial well-being of an overwhelming portion of respondents to a new survey—with the scourge of student debt cutting across generations and economic status.
EBRI says more families are placing themselves at risk of running short of money in retirement due to their increased likelihood of holding debt while in retirement.
More Gen Xers say they regret spending and accumulating debt than previous generations, a survey found.
Although 58% of Millennials surveyed said they are saving enough for retirement, 46% say they have significant debt, and 53% say they will “never be comfortable investing in the market.”