At a crossroads: which is better: to retire with zero debt or a million bucks?

Which Is Better For Retirement: Zero Debt or a Million Bucks?

How You Frame the Question Makes a Difference

Recently, one of our clients asked me an interesting question.“Would it be better for me to retire with no debt or to have a million dollars in my bank account?”

Our client offered some interesting reasoning as to why the question was framed that way.

As I listened to this client, it sparked some ideas in my mind.  I perceived that the client was seeking my approval for justifying certain aspects of their behavior.  Indeed, it gave me flashbacks of when my kids were growing up and sought my approval to reinforce their decisions and justify certain habits of theirs.

Why Your Approach to Retirement Could Change Your Life

Retirement, in my opinion, might be the biggest decision a family or individual can make.   Mistakes you make early on might potentially dictate a difficult path for you with possibly irreversible consequences.  On the flip side, wise decisions you make beforehand potentially could make retirement enjoyable and full of great accomplishments along with the potential to leave a positive legacy for your loved ones.


To maximize your potential for success in retirement, here are some critical decisions to consider:

  1. When will you take Social Security?
  2. Should you pay off debt prior to pulling the trigger on retirement?
  3. How will you devise a sustainable strategy for generating income?


How We Care about Your Success in Life

My goal as a financial coach is to help our clients to live purposeful, fruitful lives.  The time is approaching when our clients will need to make important decisions in life.  My role is to assist them to navigate through potential choices and consequences.  My greatest delight is to see my clients fully understand their options and make the best choices possible.

We would love to schedule you a complimentary listening session. We would be able to learn about your personal circumstances and how to make retirement more enjoyable.


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