Sean Rossman

USA TODAY

As Millennials join the workforce in earnest, many are pondering a serious question: Focus on paying off student debt or nail down a comfortable future?

The answer isn't so clear. Kyle Ryan, head of advisory services at Personal Capital, says the decision isn't just about cold, hard numbers. It also relates to personal feelings about debt.

"Money is emotional and you really need to spend the time thinking about your own values and feelings about money," he said. "If you do that, it's going to help you make better decisions."

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Right now, most 20- and 30-somethings are making enough to cover expenses. But buying a house and/or saving enough for retirement is difficult with the spectre of student debt hanging over them. They can either double down on their student loans and pay them off, delaying future savings; or maintain minimum loan payments, and use any spare funds for a down payment or starting a 401(k).

Ryan suggests weighing the interest accruing on your student loans versus what a diversified investment account would generate. Generally, he said, those holding a student loan with 5% interest or less should direct their money toward investing in the future. Most diversified accounts, he said, will beat the 5% building on your student loans.

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If the student loans are in the 6-8% range, it may make sense to focus on paying them off.

As for buying a house, Ryan said Millennials should consider whether they plan to stay in the same place for several years. Buying a house is a great investment, he said, but the real estate market doesn't guarantee a house will increase in value. He said it makes sense to buy a home if you plan on living there for at least seven years.

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Kristen Robinson, senior vice president of emerging investors at Fidelity, offered a step-by-step method for Millennials facing money dilemmas.

1. Build up some protection by saving an emergency fund of about 3-6 months of income.

2. Start contributing to a 401(k). Stock away at least enough to take full advantage of any employer match. "If you don't," she said. "You're literally leaving money on the table."

3. Pay off your high-interest credit cards or any other debt with high interest.

4. Then focus on your student loans, which typically have lower interest rates compared to credit cards.

5. Start contributing more to your 401(k). Even adding 1% each year, she said, can have a "significant impact," Robinson said. She suggests increasing your contribution gradually until you are putting 10% to 15% of your income away for retirement.

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As far as saving for a house, Robinson suggests building a separate fund for a home by scheduling a direct deposit from your paycheck to a separate account.

Both Ryan and Robinson suggested taking stock of your overall financial situation as part of paying down debt or saving for retirement. Ryan suggested people understand their net worth, while Robinson focused on setting a realistic budget. Ryan stressed circumstances will change throughout peoples' lives, but having a plan is better than not having one.

Follow Sean Rossman on Twitter: @SeanRossman