The 3 Worst Types of Debt to Take With You Into Retirement
Retiring debt-free is obviously ideal, but taking a little debt into retirement isn't the end of the world. A mortgage payment you've budgeted for in your retirement plan probably isn't going to threaten your financial security. But the same can't be said of the three types of debt listed below. If you have any of these, come up with a debt repayment plan ASAP so you can ditch these bills before retirement.
Your retirement savings is generally safe from creditors -- except the IRS. If you owe back taxes, the federal government could take the money from your 401(k), IRA, or other retirement account and you'll have no recourse to stop it. That's a huge problem for seniors who rely on their retirement savings to cover their monthly bills.
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Source Fool.com
