How does debt affect my retirement plans?
Debt can significantly impact your retirement plans by reducing your disposable income and increasing financial stress.
What types of debt should I be most concerned about?
High-interest debts, like credit card debt, and long-term debts, such as mortgages, can be particularly concerning.
How can I manage my debt before retiring?
Consider creating a budget, prioritizing high-interest debts, and exploring debt consolidation options.
Is it better to pay off debt or save for retirement?
It often depends on the interest rates of your debts versus your potential investment returns; a balanced approach is usually best.
What resources can help me with debt management?
You can look into financial advisors, debt management programs, and online budgeting tools to help manage your debt.
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