TimH

Brenden,

Glad to hear you are thinking about your retirement at an early age. The power of compounding over time is impressive, no matter how you look at it. In response to your question, I would do both for the following reasons: You don't have the choice of not paying your student loans, so whatever your payment is, I'd suggest paying that as a minimum. I agree with your decision to consolidate to a more reasonable rate. I would suggest staying away from Salle Mae loans. You might get a better rate at a local credit union or shop for rates at a site like bankrate.com. Don't forget you can deduct student loan interest on taxes, so paying the loans off earlier won't make as large of an impact as having used that same money to jumpstart your retirement account. You can't take back time. Ever hear of the snowball effect? That's exactly how it works. Starts small, but as you continue with contributions, interest is made on interest, ect.

Whatever disposable income you have after your monthly bills, contribute as much as possible to an IRA, specifically a Roth. Once your employer offers a match, you would contribute to your 401k first, up to the match (hey, its free money with a guaranteed return). If you still have funds to invest beyond the match, put those remaining funds into the Roth. Previous thought consensus was you would open a traditional IRA or Roth based whether you were going to be in a higher income bracket in retirement or during your working years. With all the added features of the Roth, it would be wise to fund one regardless of your current or planned tax bracket in retirement.

Companies like Vanguard, Fidelity, and T. Rowe Price are all great companies. Try to choose one with a large selection of no-load funds (no sales charges). I personally use Vanguard and they have great customer service and a user friendly web interface to access your account online. Good luck!