You Have Paid Off High Interest Debt
You Have Paid Off High Interest Debt
You Have Paid Off High Interest DebtOne of the greatest threats to retirement today may not be saving too little, but owing too much.After making real progress against debt during the pandemic, consumer debt is at an all time high. Total household debt rose to $18.036 trillion in the fourth quarter of 2024, according to Federal Reserve data. And, the share of current debt transitioning into delinquency increased for nearly all debt types .The most adult way to handle debt is to pay it off before you quit working. However, that is not always possible and carrying some mortgage debt (at a low interest rate) may be preferable to paying it off.