Is it scary to retire with a bag full of debt? If you ask this question to my grandad or even dad, he would instantly say “a big no”. Fortunately or unfortunately, I have interacted with many people who are entangled with debt problems. Some are immersed in credit card debt. Others are postponing their marriage and family plans because of their huge student loan debt. I wonder what these people would do at the time of retirement? What if they can’t pay off their debts before retirement? Is it perfectly fine to retire with a bag full of debt?
Is it bad to retire with debt? (more…)