Paying Debt/Starting a retirement fund

My husband and I are in the process of paying off our debt. Neither one of us has a retirement fund and we are wondering if we should start something now or just focus on paying off our debt first. We are both 36 and have two children ages 8 and 6.

Terry Says:  My typical answer is “do both”!  And that’s really the correct answer, but I know it’s difficult.   Especially with two children,  and college facing you in 10 years.  I don’t know the details of your situation, but I urge you to call the NFCC — for credit counseling.  If you call them at 800-388-2227 to talk with the nearest local office.  If you just talk with them about your situation, it does not get reported to the credit bureaus.  Some things to consider in this decision:  the amount and rate of your current debt, the kind of retirement savings options you have (ie, does your employer “match” your contribution to a 40l(k) plan), and your entire income/spending pattern.  They will help you make the right decision.