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Originally Posted by quadro2000
About 2 years ago, a financial advisor came to our workplace and stressed to us the importance of getting out of credit card debt. My officemate, who at the time was putting money away for retirement and was about $4000 in credit card debt, cancelled the money going into his retirement and concentrated solely on the credit card. It took him about a year and a half, but he got out of the credit card debt. I have a lot of respect for him, because he consciously worked hard at escaping their grip.
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A brilliant plan, because his retirement was only growing at 5% or so, while his debt was rising at 15-20%. I've never understood people who are so excited about their stock portfolios and retirement packages while credit card debt was simultaneously eating away everything they had (or were going to have).