2753: 3 Debts You Should Eliminate Before Retirement by Kumiko of The Budget Mom on Debt-Free Living

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🗓️ 8 June 2024

⏱️ 11 minutes

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Summary

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2753: Kumiko from TheBudgetMom.com outlines crucial advice on eliminating unsecured debt, student loans, and mortgages before retirement to secure a financially stable future. By proactively addressing these debts, you can enjoy your retirement with peace of mind and freedom from financial burdens. Read along with the original article(s) here: https://www.thebudgetmom.com/3-debts-you-should-eliminate-before-retirement/ Quotes to ponder: "The simple truth is, you can't afford to have a majority of your income eaten up by debt payments." "If you have a credit card with a $5,000 balance with 18% interest, it will take you roughly 84 months to pay it off." "It's critical to take steps to ensure you have an effective debt management strategy in place and to take early action steps to eliminate debt before you retire." Episode references: Federal Student Aid - Income-Driven Repayment Plans: https://studentaid.gov/manage-loans/repayment/plans/income-driven Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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1:09.7	this is optimal finance daily episode 2,753.
1:14.0	Three debts you should eliminate before retirement
1:17.0	by comico of the Budget Mom.com
1:20.0	and I'm your host and personal finance enthusiast, Diana Merriam.
1:24.0	Now let's get right to today's post as we optimize your life.
1:28.0	Three debts you should eliminate before retirement by comico of the Budget Mom.com.
1:37.0	Being in debt while you're still working can be a nagging problem and even prevent you from saving for retirement.
1:45.2	But carrying that debt into retirement can also be dangerous and in some cases even more so.
	...

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