How to Handle It During Your Retirement Years

It’s one thing to be carrying debt while you still have a full-time income. But it’s quite another to be facing mounting debt when you’re retired and living on a fixed income.

How to Pay Off Debt During Retirement

A popular option for retirees is a Reverse mortgage that allows homeowners to tap into their equity in the form of one lump sum payment or monthly disbursements. 

Credit Card Debt

If you’re trying to pay off  credit card debt, you need to transfer your balances to cards that offer zero percent introductory rates for a specific number of months.

Mortgage Debt

If you’ve already hit your retirement years and still carrying a mortgage, you might consider selling your home and moving into something much smaller.

Medical Debt

You can take some steps to fight off medical debt. You can call your state health insurance assistance program to find out what options are available to you.

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