I have high student loan debt in which I am paying on an IDR payment plan within the Public Service Loan Forgiveness Program (PSLF). I will be eligible for forgiveness in 6.5 years and with my high debt, I am the perfect participant in this program as majority of my loans will be forgiven. So I try to pay the smallest amount possible. I work in Education, so I have a Pension (9% contributions, cannot be increased or decreased) that is newly fully paid for by my Board of Education (making my actual take-home more because typically has been paid by me). I also have a 403b account sponsored by my work, but with 0% match. This contribution is pre-tax (making my student loan payment smaller).
My question is…
Do I try to max out my 403b (to then also lower my student loan payments, but will not likely be able to contribute the max $20,500) before opening a Roth IRA (I’ll likely be able to contribute the max $6,000). Or do I focus on the Roth IRA before trying to contribute more to the 403b?
I feel as though my situation is somewhat unique and I’m not sure how to move forward, which is creating paralysis by analysis… any assistance is welcome!