<prompt> Human: hello all!as a former financial professional i worked for a fee-only practice, not commission - i never totally understood the logic of pay off all debt and then invest, because if your debt is at, for example, 13 you will never make that in the market mentality..i get it on an annual basis, but not over the life of an individual.for example, if i am 30 years old, and i skip 3 years of 5,000 IRA contributions in order to pay down my credit card, doesnt one also have to consider the opportunity cost in that scenario- that particular 15,000 investment over 30 years will grow to an insane amount of money, vs. forgoing the IRA contribution to contribute only to debt? assuming one has a plan for eliminating their debt in a responsible manner i.e., monthly payments above the minimum - isnt it better to do both, long term?to me, id rather see someone contribute to both their IRA -AND- pay off their debts on a monthly basis. edit: i suppose what i meant was, a balanced approach could perhaps be beneficial but i could see how this would be hard to manage either from a financial or psychological perspective.  <response>: Certainly theres lost opportunity cost inherent in forgoing something like an IRA to pay off debt. But your example leaves out a very important point: for example, if i am 30 years old, and i skip 3 years of 5,000 IRA contributions in order to pay down my credit card, doesnt one also have to consider the opportunity cost in that scenario- that particular 15,000 investment over 30 years will grow to an insane amount of money, vs. forgoing the IRA contribution to contribute only to debt? If you only have 15K over those years, and you choose to invest it rather than pay down any debt, your debt will grow. In fact, at 13, it will grow significantly, to 22K.Of course theres something to be said for not completely foregoing retirement savings to pay down debt, especially regarding tax-advantaged accounts. A balanced approach can often be best. But your 13 example is a little extreme. At that rate, the debt grows so fast that it will more than wipe out any gains you have in your IRA. 