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I came across this article recently, on the subject of debt in retirement. In this article, Dave Ramsey of “The Dave Ramsey Show” fame discusses whether it is good for someone to enter into their retirement while carrying debt. I was very thrilled to read Dave’s advise on this subject. Because, usually we see people talking about debt as it is an unavoidable part of our lives and that it’s okay to take on debt and so on. Dave takes a very fundamental approach to debt and explains how you just cannot even begin to build wealth as long as you have debt. So how can we even dare to dream of a good, happy retirement if we are so comfortable with debt. There are always exceptions to any rule and there will be cases such as buying a home or in some cases car, that you have to take the help of a loan.

But racking up credit card debt or taking upon any loan that’s offered to you in the name of enjoying life (living in the moment) can only mean one thing. If you yourself don’t care about being able to afford your lifestyle in the future, then why do you think someone else would and some how magically help you. It only means that there would be suffering down the road. 

Debt is bad for even younger folks. So how can one think it’s okay for someone in their 60’s and entering into retirement. It can rob one of their peace of mind, their quality of life.

My favorite point in Dave’s article was the question about good debt and especially Dave’s answer to the question.

Read this article to learn or refresh your memory on what is the impact of running a lifestyle with borrowed money. So take action today to insure a better tomorrow.