Debt | NewRetirement

December 14, 2020byKathleen Coxwell

In 2020, Fidelity reported that the majority of people who were making financial resolutions for the new year wanted to achieve a debt free life. While fortunes have shifted after the pandemic, it is still a very worthy goal. Not sure how to get out of debt? You have options. Based on my experience, there…

December 10, 2020byEditorial Team

One of the greatest threats to retirement today may not be saving too little, but owing too much. According to the Federal Reserve Bank, Boomers (Americans born between 1946 and 1964), are carrying ballooning amounts of debt into retirement.Will your debt take a big bite our of your retirement? For many people, that debt is…

July 7, 2020byKathleen Coxwell

What happens to your debt when you die? It’s possible that an individual can have so much debt after they die that it will wipe out the assets that they’d hoped to leave for their heirs. In some situations, family members may be on the hook for their deceased relative’s debt.However, this all depends on…

July 2, 2020byKathleen Coxwell

If you are a typical American approaching retirement, chances are you’re carrying some form of debt. In fact, the median debt per American household is $2,300, while the average debt stands at $5,700, according to a study by Lending Tree. But retiring with debt can be detrimental to retirement planning, says credit counselor Thomas Nitzsche,…

July 24, 2019byKathleen Coxwell

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…

May 17, 2018byDerek Sall

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.…

January 5, 2017byKathleen Coxwell

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 to a low of 3.02 percent in 1993. The low…

September 1, 2016byKathleen Coxwell

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…

November 2, 2015byKathleen Coxwell

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…

May 7, 2015byKathleen Coxwell

“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…

February 20, 2015byKathleen Coxwell

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…

December 26, 2014byMedia Shower

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…

October 17, 2014byKathleen Coxwell

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…

Category: Debt

How to Get Out of Debt: 12 Ways to Reduce this Expense for a Better Future and More Secure Retirement

Average Retirement Debt: Older Americans Have More Debt than Ever Before!

What Happens to Your Debt When You Die?

6 Ways to Have a Debt-Free Retirement

Paying Off a Debt? First Celebrate then Do This…

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

How to Prepare Your Retirement Plans for Rising Interest Rates

Does Your Credit Score Matter in Retirement?

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

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

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

Expert Interview with Lauralynn Schueckler About Credit Counseling

How to Get Out of Debt? The Financial Gurus Answer