Approaching Retirement With Debt? Here Are 3 Things Not to Do
If you're nearing retirement with debt, you're in good company. The Center for Retirement Research found last year that the share of U.S. households over age 65 carrying some type of debt has risen from 38% in the late 1980s to 63% as of late 2023.
Of course, retiring without debt hanging over your head could make your senior years less stressful. So you may be inclined to do what you can to shed that debt before your career comes to a close.
But some of the strategies you might employ to pay off lingering debt have the potential to backfire on you. Here are three you should probably steer clear of.
Source Fool.com
