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My question relates to the simple IRA and how much we should contribute. For the last year my husband and I have put all of our focus and drive into eliminating our debt. We have been able to decrease our debt from $43,000 to $33,000, paid off our auto one year early and plan to be debt free 7/01. (ouch, I know)! In order to get started last year, I had to stop contributing to my 403B and then had an extra $150 to put to our debt. Although I am a novice, I have learned (via The Motley Fool, etc) that I am passing up "free money". I have begun contributing again to my 403B and now my husband is eligible to participate in his companies Simple IRA. His company will match 3% of contributions. My question is should he put in 3% or more? I know of the $6000.annual rule for contributions. Our main goal is to eliminate our debt but at the same time don't want to pass up the "free money". We have $700 to apply to our debt each month.
Any suggestions? Thanks!
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