Surveys reveal that while many Americans plan to retire, a significant number feel uncertain due to insufficient savings. A staggering 42% doubt they will ever save enough.
Even with a substantial nest egg, retirees can struggle financially if they overlook crucial personal financial metrics, such as their credit score. A good score remains vital.
Retirees who neglect their credit score risk facing higher loan interest rates and greater difficulties securing loans, which can deplete their hard-earned retirement savings.
Bad credit not only affects financial borrowing but also impacts housing opportunities and leads to higher insurance premiums, presenting real challenges in retirement.
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