Reply to Does it make sense to start contributing to 401K this year if I think the market is about to correct

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Reply to "Does it make sense to start contributing to 401K this year if I think the market is about to correct"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]We have nothing saved for retirement and are 35.  We have a high HHI but have been using it to pay down enormous student loans.  We've made some good progress and are now thinking we should start putting some money towards retirement.  Not sure if that makes sense though given how high the market is right now.  We both think that there may be a significant drop this year.  Should we just wait another year to start?  Any advice appreciated.  Thanks[/quote]

[b]contribute to the extent you get a employer match.  Pay off student loans very aggressively.   Once loans are paid off, max out your 401K..[/b]

Contribute evenly over the 26 pay periods.  This way if the market corrects you are benefiting from the lower prices that will follow.  As everyone else suggests, you have a long time to invest and market ups and downs shouldn't matter as long as you are investing regularly.[/quote]

Neither one of us has an employer match.  We still owe 190K in student loans (started with about 430,000).  Our highest interest rate is 3.5%, which is why we wondered if we should start contributing to our 401Ks.  Should we just focus on paying the loans down until we have a lower balance?[/quote]

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