This is where I’ll be showcasing everything I know about debt today. Please keep in mind that this post is a work in progress and I’ll be updating it frequently.
Can I Pay Off My Credit Cards and Other Debts Before Retirement?
- Try to pay off credit cards and consumer debts before you retire.
- If possible, pay off your entire mortgage by retirement.
- Aim to spend less than you earn. Avoid taking on new debt prior to or during retirement without a realistic plan to pay it off.
- Consider the 10 years before retirement as your debt-reduction decade.
- Track your spending, and pay your bills on time.
- If you think you may fall behind on monthly payments, talk with creditors early — not after you are late on your payments.
- Build an emergency fund of at least three months of living expenses to avoid relying on credit for unplanned costs.
Types of Debt
Handling A Credit Card Crisis
More information on debt and retirement coming soon!