You are jealous of travel-related retirement, relaxing days on your front door or with the oasis and fun grandchildren in your yard. Credit card debt can keep you from making those dreams.
A new study of the Career Resource site has been reported that almost half of Americans have been asked, has more than $ 25,000 in debt, and 20% more than $ 100,000. The remaining monthly highest payments and mounting interest can force you to postpone the pension, take the second work or lateral gig or later scale your expenses.
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Here’s how some Americans have overcome debt and how it can affect their retirement plans.
The study showed that 38% of American employees took second jobs or side elegance to cover their debt payments. If you owed, that money can go for retirement savings instead.
With a strong plan without debut, a pension can become a distant dream; It is possible that you even have to keep working on two jobs instead of retiring.
Be careful. I am a financial expert. This is the number 1 wrong Americans with their 401 (K).
If you are passionate about your work, retirement may not be a bad idea. In fact, Forbes data showed that 32% of retirees wanted them to continue to work longer. After 65 years of age or side gig proposes a sense of purpose and can contribute to general well-being, physical and mental health, a new report of the Institute of Health Institute and Innovation Institute.
However, if you are stuck in such a job that you do not like, or it does not offer flexibility to provide time for important health appointments, it can negatively affect your health.
The bottom line. Working for the 60’s and 70s can have a negative impact on your overall health and well-being, especially if you have to work to pay off debt.
If it’s your situation, you’re not alone. RESUVE BUILDER has found a separate research that he has refused retired elderly who said they intend to return to work in 2025, and 34% return to the workforce.
Maybe you have a solid 401 (k) and other saves and you will be able to retire as planned in the early 60s. But credit card debt can make you scale retire to meet the ends. According to Zetet research, 38% of respondents “reduce non-significant costs” to make debt payments.