If you’re buried under debt, you may be thinking more about how to get out from under it, versus thinking about something way off in the future like retirement.

While it’s admirable that you are dedicating all your resources to paying off your loans, credit cards and other debts, you might be missing out on a valuable opportunity to invest in your future – time.

The sooner you start saving, the more time your money has to grow, according to the United States Department of Labor. Here are some tips to help you determine if you can pay off your debts and save for retirement at the same time:

* If you are struggling just to make minimum payments for all your debts, it may be best to dedicate your money toward reducing those debts first. You might need to find ways to stop spending money, reduce interest rates, earn more money to pay off the debts or consolidate your debts so you can get started in reducing the amount of money you owe.

* Find resources available to you that allow you to easily invest in a retirement plan. For example, if your employer has a 401(k) plan or a pension plan, these may easily contribute toward your retirement future without you having to spend a lot of money. Many employers offer a 401(k) investment match up to a certain dollar point. Yes, you will have some money taken out of each paycheck (pre-tax) for your contribution, but your employer’s contribution is free money.

* As you get your debts paid off, you may want to consider using the money originally earmarked to paying the debts to invest in an individual retirement account like a Roth or traditional IRA. This will not help speed up the rest of your debt payment process, but it will get you started financially saving for the future.

You may want to speak with a financial adviser for additional ideas or tips on how you can improve your financial situation and prepare to retire when you want to retire.