debt

Credit Card Debt in Retirement: Causes and Solutions

Credit card debt in retirement can be a significant financial burden for the majority of individuals. Many retirees face this problem and carry significant amounts of credit card debt, often due to unexpected expenses, living beyond their means, or medical bills. This debt can have serious consequences, including reducing the amount of disposable income available to retirees, increasing stress and anxiety, and limiting their ability to enjoy their retirement years.

Navigating Retirement In 2023: Here Is What You Need To Prioritize

As we enter 2023, retirement planning has become more important. The aging population and increasing life expectancies mean that retirees must plan carefully to ensure a comfortable and secure retirement. With so many financial priorities to consider, it can be challenging for retirees to navigate their retirement planning. In this context, it is crucial to prioritize the most critical financial considerations that all retirees should consider. Doing so can increase their financial security and help …

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Social Security Overpayment: Widow hit with $41K debt, demands answers

Mansfield, Texas – A North Texas widow was left reeling after the Social Security Administration admitted to overpaying her by $41,514 in survivor benefits and has now demanded that she repay the entire sum. Delfina Prisock, a retiree from Mansfield, Texas, was shocked to receive the overpayment notice, and despite her appeal, she was denied three times. Unfortunately, Prisock’s story is not unique, as many Americans are receiving overpayment notices from the SSA. Prisock’s life …

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Retirement Debt on the Rise for Older Adults, Survey Finds

BOSTON, MA – A recent survey from the Federal Reserve has revealed that an increasing number of older adults in retirement are burdened by debt. According to the 2022 Survey of Consumer Finances, the percentage of individuals aged 65 to 74 with debt has risen to 65% in 2022 from 50% in 1989. Similarly, those aged 75 and over reporting debt has increased to 53% in 2022 from 21% in 1989. While limited retirement income …

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