A Quote by Michelle Singletary
I just don't like people taking debt into retirement.
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You also need to understand that when you consolidate credit card debt into mortgage debt - like a home equity loan or a HELOC [ home equity line of credit ] - you're taking an unsecured debt and turning it into a secured debt.
What's just about a generation of people who rack up government debt for their own health care and retirement - while leaving their children and grandchildren to foot the bill?
A consolidation makes sense only if you can lower your overall interest rate. Many people consolidate by taking out a home equity line loan or home equity line of credit (HELOC), refinancing a mortgage, or taking out a personal loan. They then use this cheaper debt to pay off more expensive debt, most frequently credit card loans, but also auto loans, private student loans, or other debt.
I don't mind being recognised, as long as people are nice. I do like meeting people; it's just that some people are a bit disrespectful... Sometimes it's like, I'm having a roast dinner, and someone's taking a picture of me. I don't mind taking pictures, but just ask. Otherwise, it's a bit weird.
I do not like debt and do not like to invest in companies that have too much debt, particularly long-term debt. With long-term debt, increases in interest rates can drastically affect company profits and make future cash flows less predictable.
I have younger friends who are in this pinch where they feel they've been counted out before they've had a chance to prove themselves. They've inherited a lot of debt - not just student debt but environmental debt, political debt. They really feel squeezed.
People tend to think that paying a debt is like going out and buying a car, buying more food or buying more clothes. But it really isn't. When you pay a debt to the bank, the banks use this money to lend out to somebody else or to yourself. The interest charges to carry this debt go up and up as debt grows.
Shipping first time code is like going into debt. A little debt speeds development so long as it is paid back promptly with a rewrite. The danger occurs when the debt is not repaid. Every minute spent on not-quite-right code counts as interest on that debt. Entire engineering organizations can be brought to a standstill under the debt load of an unconsolidated implementation, object-oriented or otherwise.
Whether it's fly-fishing, taking your camper to the Everglades, or just traveling, everyone has got a little retirement dream.
You still need to save but being debt-free in retirement is and should be a goal.
Whether we are working to pay off student loans, credit card debt, paying for elder or childcare, or even trying to save for retirement, the idea of the American dream still remains just that - a dream.
Like the truth, retirement can set you free. Or, like work, retirement can imprison you.
Avoid debt that doesn’t pay you. Make it a rule that you never use debt that won’t make you money. I borrowed money for a car only because I knew it could increase my income. Rich people use debt to leverage investments and grow cash flows. Poor people use debt to buy things that make rich people richer.
As any Brit will understand, things get a little easier when you don't have to be number one any more. Really, the fall of an empire is not as bad as everyone thinks. It's like retirement. People fear retirement, but it can turn out be rather pleasant.
When Americans think of college these days, the first word that often comes to mind is 'debt.' And from 'debt' it's just a short hop to other unpleasant words, like 'payola,' 'kickback,' and 'bribery.'
There's also consumer debt, the credit card debt that burdens many of the working families in America. Yes, we talk about national debt, and we're paying a lot down. But you're fixing to hear me tell you part of the remedy for people who have got a lot of credit card debt is to make sure people get some of their own money back.
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