You should be completely debt-free by the time you reach retirement, but sadly many older Americans have a significant amount of debt. Don’t fall into debt traps in your older years and prioritize paying off any debt that you do have. Want to know what to do with your...
By the time you reach your 40s and 50s, debts should be lower or almost gone. Student loans should be non-existent, you may be paying for cars in cash, you might be pre-paying your mortgage, and credit card debt should not exist.
New data shows more Americans than ever have car payments over $1,000. Is this becoming the new normal? How much could having a car payment of $1,000 be costing you for retirement? For more information, check out our Car Buying Checklist!
We call the 30s the messy middle for a reason – not only will life get crazy, you may also be taking on new debts and have new financial responsibilities (like kids). Don’t let your busier life catch up to you and trap you in debt.