Great question—and a classic case of it depends on the maths.
The Donegans would ask:
> What kind of debt is it?
> What are the interest rates?
> What are you investing in?
> Are you getting “free money” (e.g., employer match)?
> How high is the debt interest—above 5%? Into the double digits?
If you’ve got high-interest debt (e.g., credit cards, payday loans, personal loans over 10%), paying it off is likely the fastest financial win you’ll get. Smash that first.
But if your only debt is a low-rate mortgage, and you’re investing in low-cost index funds with a long-term plan, then continuing to invest may make sense.
Also—what’s the opportunity cost of not investing? Are you pausing long-term compound growth?
Final point: don’t ignore the psychological returns. If getting out of debt helps you sleep better, that has value too.