Ask yourself these questions before you take the leap.
If you have a retirement plan that provides a match, yes, up to the match. Direct any extra cash flow towards debt paydown because it can often be a great investment. Think of it this way: if you have a credit card balance that costs 15%, paying it down is the best guaranteed, risk-free return you will find. With most student loans at 6% or so, paying them down usually makes more sense than risking those same dollars in the markets.
You should rebalance your accounts regularly so that your allocation remains in line with the original percentages. Many retirement plans offer automatic rebalancing, which you should use.In retirement plans, you will usually find a menu of mutual funds, which are pooled investments that allow you to own a sliver of each of the desired assets. The cheapest are those that track an established stock, bond, or commodity index .
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