Do Not Take Debt Into Retirement
Do Not Take Debt Into RetirementIf you research retirement and debt topics, almost all articles, advice and financial help and planning books say something similar to these three points:
1. Carrying debt on a fixed income is very stressful
2. Carrying debt and spending a fixed income drains cash flow
3. Retirees with outstanding loans are less happy
It is difficult sometimes to think about retirement when you are just figuring out your mortgage or paying into your children’s tuition account every month. However, retirement is around the corner and you not only deserve to be stress free and happy now but you also deserve to feel secure and happy in the future. This may sound easier than it seems but small steps in this direction every year may reap financial benefits in the future and towards retirement. Start by selling items you no longer need or decide to do something you love to make a little bit of extra money every month to decrease your debt. Downsizing your living environment may feel scary but can be most invigorating and beneficial. You just need to do what makes you feel most comfortable but most importantly, do not carry debt into retirement.
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