Save for Retirement or Pay Down Debt?

Upon starting a new job, many young people have been given the advice,  “Pay yourself first.” Saving is always good counsel, and the earlier an individual begins to save, the brighter his or her financial future looks. If only things were that “black and white.” When it comes to managing money, individuals are often caught between their desire to save for retirement and their responsibility to pay down debt. Which priority takes precedence?

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