Most Popular Debt and Debt Management Articles

    Average Retirement Debt: 13 Tips to Prevent it From Taking a Big Bite Out of Your Future Finances!

    Average Retirement Debt: 13 Tips to Prevent it From Taking a Big Bite Out of Your Future Finances!

    One of the greatest threats to retirement today may not be saving too little, but owing too much. A 2016 survey by the Center for a Secure Retirement found that Boomers (Americans born between 1946 and 1964), are carrying a significant amount of debt into retirement. Will retirement debt take a big bite our of your ...

    How to Prepare Your Retirement Plans for Rising Interest Rates in 2017

    How to Prepare Your Retirement Plans for Rising Interest Rates in 2017

    Most experts agree that we will see rising interest rates in 2017.  Interest rates impact our lives in a wide variety of ways -- especially financial. Why Will Interest Rates Rise? Since 2008, interest rates have been at historic lows, below 1 percent. Traditionally, rates have been much much higher -- ranging from 16.39 percent in 1981 ...

    What Happens to Your Debt When You Die?  If You Run Out of Money, Are Heirs Responsible for the Bills?

    What Happens to Your Debt When You Die? If You Run Out of Money, Are Heirs Responsible for the Bills?

    A lot of retirees will run through their savings before they die.  And then what?  What happens to your debt when you die?  Will your debts wipe out the assets you’d hoped to leave for your heirs? Will your family members be on the hook for your debt? The short answer is, it depends on the ...

    Paying Off Debt?  First Celebrate then Do THIS!

    Paying Off Debt? First Celebrate then Do THIS!

    Whether it is a credit card, car loan or the holy grail of all debts -- your mortgage, paying off debt and eliminating monthly payments is a really big deal.When you pay off a debt, it is a huge opportunity to rethink your financial situation.  Your cashflow will have suddenly improved.  What are you going ...

    Retiring With Debt is a Bad Idea; 6 Ways to Have a Debt Free Retirement

    Retiring With Debt is a Bad Idea; 6 Ways to Have a Debt Free Retirement

    If you are a typical American approaching retirement, chances are you’re carrying some form of debt. In fact, the average person age 65 or older typically carries $9,300 on their cards, according to a study by national research organization Demos. But retiring with debt can be “detrimental” to retirement planning, says credit counselor Thomas Nitzsche, of ...

    Debt Free Retirement! 7 Reasons To Pay Off Every Penny Before You Retire

    Debt Free Retirement! 7 Reasons To Pay Off Every Penny Before You Retire

    You’re 70 years old. You shuffle out to your mailbox on a crisp Monday morning and you are not at all surprised by what’s inside: junk mail and bills. “You’ve been pre-approved for this credit card.” -- garbage “I’ll do great things for your city. Vote for me!” -- garbage “It’s that time of month ...

    Does Your Credit Score Matter in Retirement?

    Does Your Credit Score Matter in Retirement?

    Whether you’re living the dream of a debt-free retirement or you’re still working towards paying off debt, there are some pretty compelling reasons to continue caring about your credit score after retirement. In a perfect world, everyone would enter retirement with a paid-off mortgage, zero debt, and a nest egg large enough to ensure they would ...

    How to Get Out of Debt? The Financial Gurus Answer

    How to Get Out of Debt? The Financial Gurus Answer

    Retirement planning is a lot easier with the weight of debt off your shoulders. Some debt is almost unavoidable, but that doesn't mean you can't clear it away, and smooth your path forward. All it takes is a plan, and the stick-to-itiveness to see it through. If you're trying to hone in on the best ways ...

    Expert Interview with JoAnneh Nagler Of The Debt Free Spending Plan About Retirement Savings and Supporting In-debt Children During Retirement

    Expert Interview with JoAnneh Nagler Of The Debt Free Spending Plan About Retirement Savings and Supporting In-debt Children During Retirement

    "The principle of living debt-free is not about being good money-citizens for the sake of it. It's not about getting a gold star. It's about getting clarity with our money so that we can fund more of what we want, not less. I like to say, 'It's about creativity, not credit cards.'" This is a quote ...

    Expert Interview with J. Douglas Hoyes About Retirees Living Debt-Free

    Expert Interview with J. Douglas Hoyes About Retirees Living Debt-Free

    We asked J. Douglas Hoyes, bankruptcy trustee, founder of Hoyes, Michalos & Associates, and advisor for MoneyProblems.ca, how big of a problem debt was for individuals today. He said the answer really depended on your perception. While the average Canadian now owes $1.62 in debt for every after-tax dollar they earn (a number that keeps growing) ...

    Expert Interview with Lauralynn Schueckler About Credit Counseling

    Expert Interview with Lauralynn Schueckler About Credit Counseling

    Working with a credit counselor is something people of all ages can benefit from. These trained professionals help individuals reduce debt, save more, and reach financial goals. Lauralynn Schueckler of Advantage Credit Counseling Service understands that money worries are a common occurrence in individuals just starting out and in retirees, but she knows that credit counseling ...

    Expert Interview Series: Steph Halligan About Eliminating Debt While Saving For (or in Preparation of) Retirement

    Expert Interview Series: Steph Halligan About Eliminating Debt While Saving For (or in Preparation of) Retirement

    Do you want to eliminate debt and save for retirement? It's not impossible. In today's world, it can be easy to feel rushed, overwhelmed, and spread thin. But don't let that stop you from meeting your goals. If you want to be debt free, it will require some discipline and sacrifice; but eventually, it will have been ...

    In Greek Debt Crisis, Some See Parallels to U.S.

    In Greek Debt Crisis, Some See Parallels to U.S.

    The New York Times, May 11th, 2010 It’s easy to look at the protesters and the politicians in Greece — and at the other European countries with huge debts — and wonder why they don’t get it. They have been enjoying more generous government benefits than they can afford. No mass rally and no bailout fund will change that. Only ...

    Retirements Swallowed by Debt

    Retirements Swallowed by Debt

    The New York Times, January 26th, 2011 Bill Freedman, 86, felt financially secure. He had a comfortable income from Social Security, an I.R.A., investments and an inheritance. But when he took a fall last October, his daughter, Nancy Freedman, went to his Manhattan apartment and found several credit cards piled up in a desk drawer. After making a few phone ...

    Credit Card Debt: Not a Concern for Retirees in Bad Economy

    Credit Card Debt: Not a Concern for Retirees in Bad Economy

    Third Age, November 29th, 2010 Editor's Note:  We urge you to read this one with a large grain of salt.  Though we are including it because it's a new concept that is certainly outside the box thinking, we at NewRetirement wish to stress the extreme danger that credit card debt can pose to your retirement.  As ...

    Five ways to make your nest egg last a lifetime

    Five ways to make your nest egg last a lifetime

    Marketwatch, September 17th, 2009 Back in the good old days, before the crisis of 2008-09, many experts suggested that all you needed to do was withdraw 4% per year, adjusted for inflation, from your nest egg. That strategy, experts said, was a near guarantee that your nest egg would last a lifetime. Well, go tell that to the guy selling ...

    SMART MONEY: No need to file, they already are bankrupt

    SMART MONEY: No need to file, they already are bankrupt

    The Oakland Press, January 27th, 2011 DEAR BRUCE: My parents, both 80, have lived for years on their credit card, running up the balance and paying it off every month. This works great when you have ample income to cover it. For whatever reasons, they have no investment income left and are living on retirement and Social Security now. While ...

    CR Retirement Survey: Planning ahead may be just as risky as rewarding

    CR Retirement Survey: Planning ahead may be just as risky as rewarding

    The Press - January 12, 2009   In the wake of big investment losses, many Americans have turned to "Plan B" to strategize and rebuild their retirement nest egg, according to Consumer Reports’ latest retirement survey. There is a lot of ground to recover - 51 percent of retired readers and 55 percent of those just short of ...

    Retiring free and clear of mortgage debt

    Retiring free and clear of mortgage debt

    Bankrate.com, April 30th, 2010 Should you continue to make mortgage payments after you retire? Or should you pay off the house before quitting your job for good? Financial experts are divided on this issue. Reasons you may not pay it off Bankrate's own Dr. Don says it makes sense to compare the after-tax return on investments against the mortgage rate. "If you ...

    When credit card debt ruins retirement

    When credit card debt ruins retirement

    CreditCards.com - March 2, 2009 Are Social Security and private pensions exempt from garnishment? Dear Credit Guy,I have recently retired and have only my Social Security and a private pension. If I quit paying my credit cards, can my Social Security and private pension be garnished? I live in Arkansas and have a homestead that protects me ...