Debt can be a burden at any age because it can prevent you from getting ahead financially. But debt can be an especially heavy weight in retirement. Making monthly debt payments can leave you with less money to cover necessary expenses especially if you’re living on a fixed income.
“If you ignore this situation, it very well could eat into your nest egg over the years and force you back to work at some point down the road,” warned Neal Frankle, a certified financial planner and editor of the Wealth Pilgrim website.
Taking steps to eliminate debt now can keep it from derailing your retirement. “I recommend taking a look at your debts and giving yourself a realistic term,…
Read the full article at: https://www.aol.com/article/finance/2017/02/02/5-debts-you-need-to-tackle-before-you-retire/21705733/