Many retirees who have spent years investing are still paying off their debt. It seems to be a result of abandoning traditional financial advice concerning retirement. Some of their biggest debt is on their mortgage and credit cards.
Having limited income in your retirement years, this kind of debt does not make much sense—unless you have a lot of money. Of course, if you had a lot of money, it would still be unwise to maintain this much debt because of the interest.
