debt management Archives - The American Retiree

Avoid These Retirement Mistakes or Risk Being Broke Forever

When preparing for retirement, it’s crucial to avoid common errors that can hinder your financial stability in the long run. Retirement changes your daily routine, including new income sources and varied commitments. You may have more time for hobbies or assisting others, choose to spend more time at home, or embark on extensive travels. Careful consideration of your future needs, budget, and lifestyle is essential to ensure a comfortable retirement that can last for decades. …

8 Effective Strategies for Becoming Debt-Free in Retirement

Debt is a pervasive issue affecting individuals of all age groups nationwide. The burden of high-interest credit cards and lingering student loans can impede the ability of ordinary Americans to purchase a home, go on vacations, or even establish an emergency fund. According to a recent survey conducted by AARP’s Financial Security Trends in January 2024, 42% of Americans admit to having more debt than they can handle. Although this issue predominantly affects individuals in …

The Hidden Pitfalls of Maxing Out Your 401(k): Why It Might Not Be Your Best Move

In the absence of dwindling pension plans, 401(k) savings plans are generally considered the most favorable retirement option for the average investor.