A person’s debt situation can have many impacts on his or her goals for the future. This includes his or her goals related to retirement.
Results from a recent Stash survey indicate that one retirement goal many people here in the U.S. struggle with is building up their retirement savings. According to the survey, more than 40 percent of Americans aren’t doing retirement-related saving.
High debt is among many things that can get in the way of individuals saving up for retirement. According to the survey, among Americans who report not saving for retirement, around 40 percent pointed to the paying off of their debts as a reason that they aren’t doing such saving.
Struggles with keeping up with debt payments also have the potential to negatively affect a person’s retirement goals. Such troubles can have major impacts on a person’s long-term financial situation. This could, for quite some time, impact what position a person is in regarding his or her ability to save up for retirement.
So, when individuals are dealing with high debt and debt struggles, it can be important for them to keep their goals for the future, including retirement goals, in mind when deciding what route to pursue towards getting free of their debt burden. The different debt relief options available can vary greatly in how consistent they would be with a person’s goals. Skilled professionals, such as bankruptcy attorneys, can help consumers with their efforts to find the debt relief solution that is the best fit for their overall goals.