When you have debt, when you go into retirement, that means your expenses are higher. Studies definitely show that debt brings down happiness. It brings it down more than savings increase happiness. And so I try to get people to reduce their expenses as they get into retirement and then in retirement,. You can make those dollars stretch a lot longer.
Michelle Singletary is a best-selling author and Loeb Award-winning writer. She also pens “The Color of Money,” a nationally syndicated personal finance column which appears in The Washington Post. Robert Brokamp caught up with Singletary to discuss: - Why people fall for Ponzi schemes - If you should pay off your mortgage before retirement - Why we often lie about spending habits
Host: Robert Brokamp Guest: Michelle Singletary Producer: Ricky Mulvey Engineers: Rick Engdahl, Annie Franks
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