Retirement takes planning. And one of the things we each have to decide is what kind of retirement we hope to enjoy. Are you okay hanging out with the grandkids and fishing with friends? Or would you rather travel the globe to see how the rest of the world lives?
Whatever your “dream” retirement looks like, it will be easier to realize if you move into your golden years with retirement savings, no debt, and a plan. Here, we cover four ways taking debt into retirement could upend your dreams.
But first: When we refer to being debt-free, we mean that everything is paid off except your mortgage. Naturally, if you can pay your mortgage off before retirement, that’s a bonus. Still, most people will have a housing payment of some sort, be it monthly rent, a mortgage, or taxes and insurance on a mortgage that’s paid in full.
