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CBSMoneyWatch: 6 Steps to Get Your Retirement on Track in 2013

4. Reduce Debt

Studies show that people who can reduce or eliminate their credit card debt and even their mortgage debt fare much better in retirement than people who still carry a lot of debt. To help you reduce your monthly credit card bills, start adding a bit more each month to your monthly payment. Your goal should be to pay off as many of your cards as possible. And if you do that before you retire, you'll save money by eliminating the interest you've been paying on that credit card debt.

If you haven't refinanced your house lately, investigate a 15-year fixed mortgage. Rates are at all-time lows, and most likely you'll live well beyond the time you pay off the mortgage.


More From MoneyWatch:
The 10 Best Places to Retire
10 Cheapest Places to Live in the U.S.
How to Choose a Financial Advisor: 10 Questions

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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