Paying Off Debt Higher Priority Than Saving for Retirement

Paying off debt is a higher priority for those 40 to 59 years of age than saving up for retirement, finds a survey from AARP and the Ad Council.

According to the survey, 33 of respondents said paying off a significant debt, such as a credit card, student loan, or mortgage was their most important priority, while 21 percent said it was saving up for their retirement fund.

The survey also found 69 percent did not contribute to their retirement savings in 2018.

The good news is when it came to those who did make a commitment to put some money into their retirement fund, they mostly followed through with 84 percent saving at least some money for retirement.