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How to Pay Off Your Debt in Retirement

March 12, 2020

From the nextavenue website

While stepping into retirement might mean walking away from a job, many Americans are dragging financial baggage into this next stage: debt.

In recent years, the amount of debt retirees carry has grown, and the numbers are troubling from both a monetary and emotional standpoint. In 2016, 60% of 65+ households had debt, up significantly from 1992 when just 42% did, as Next Avenue has noted.

 “It can be difficult to pay off debt after retiring, especially if you are on a fixed income,” says Katie Ross, education and development manager for American Consumer Credit Counseling, a national financial education nonprofit.

Here are seven ways to reduce, if not eliminate, your debt in retirement:

From → Finance

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