Retirement and credit card debt
How do I know when to retire?
I have Roth IRA and 2 401k’s
My full retirement age for social security is 67 I’m currently 63
But I have large Credit Card debt
My wife says I can’t retire until I pay off my credit cards
I will be dead by then
Please help
Thanks
Terry Says
Maybe she’s counting on that! But she is right! You absolutely CANNOT retire until you pay off your credit cards. And there is a secret way to get that done in 3 years — just in time for your FULL Social Security benefit.
Here’s the trick. Take each credit card bill and write down the CURRENT minimum monthly payment.
Then, pay TWICE this amount every month. Not twice the new minimum payment, but this same amount every single month. And don’t charge another penny.
That will get your balances paid off in 3 years!!
THEN you can retire!!
