Peachy, my company's kind of funny in that 15% automatically goes into a SEP-IRA. I have no say over this. Of course, I am able to pull it out once it's there, but that's a pain and costs me some money in penalties.
FYI, I'm 25 and have a little over $12k in retirement right now. My husband is 29 and only has $10k (long story...).
Thanks for all the votes toward keeping my cash in a liquid saving account. I think that's good advice. It's just hard to look at that money sitting there and not think, "I could pay off 10% of my debt with that!"
Right, but your subsequent thought should immediately be to what you would have to do to squeeze out the necessary money should your car become unusable. Even in low-interest-rate times like these, quick money is usually pretty expensive
10% of your student loan debt is $7,000 less you're accruing interest on (vs keeping it in a money market account), which works out to roughly $30 a month in interest. Obviously, paying down debt is a good thing, and you certainly shouldn't treat the emergency fund as spending money, but that $30 is what you should be considering when the thought crosses your mind to drain it to pay off the student loans.