Description
This is the fifth article in the mini-series: Traps to avoid in retirement. This article explains how carrying debt into retirement can be a burden and explains ways in which you can avoid or manage debt in retirement.
Introduction
Increased housing costs and low wage growth are seeing more Australians carry higher levels of debt into retirement. Repaying this debt can place a major drag on retirement cash flows and hinder the achievement of retirement goals. These may include maintaining an adequate quality of life through retirement, and leaving a benefit to the next generation that is unencumbered by outstanding debt.
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