Many Americans are retiring with debt and with the rise of debt that will continue. There are such things as good and bad debt, so if you consider which one you have, you may be able to be comfortable retiring with the debt. It is obviously best to make sure you do not have any debt when retiring. If you do however, you must make sure that you have some sort of plan to deal with the debt.
Key Takeaways:
- If you have what is considered good debt and a plan for the future, it is okay.
- Generally though, it is best advised to have all of your debt paid off.
- If you do take it on, you must make sure you have good management.
“It used to be more the rule than the exception: Older Americans would enter retirement debt free, with no home loans, no car loans, no credit card debt.”
Read more: https://www.aarp.org/money/credit-loans-debt/info-2018/retiring-with-debt.html
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