text: is it smarter to save money to pay off debt or start an ira at 28 yrs. old? i am 28 and have about 33k in debt and don't make too much money, about 50k and have a mortgage.  i know an ira is a smart move, though what about that pesky debt with high interest? what kind of debt are you talking about?  if you're talking about high interest credit card debt, then pay it off first.  if you're talking about a mortgage, a car loan, maybe a low interest school loan, then i would tell you to invest some monies.  i always advise my clients not to pay off their mortgage early.  it's nice having the tax deduction of the interest, and if you take a long time to pay off the mortgage, you're paying it off with money that has been eroded by inflation.    if your company offers a 401k, go into that before an ira.  also, if your company offers you a retirement plan, you would only be able to do a roth ira and are limited to what you can invest. consult a financial profession to evaluate your individual situation and help you make the right choice.