Carrying Debt After Retirement - a bad choice?

This is the second article I've recently read regarding the biggest challenges facing folks going into retirement - debt.  So, maybe it's true?

If college debt is a hindrance to young adults, mortgage debt is the drag on homeowners heading into retirement.

As we stay in debt and work, that's sort of OK.  But when the paycheck stops, the interest bills are still due.

One repercussion for older borrowers is that they will have to work longer, said Christopher J. Mayer, a professor of real estate at Columbia Business School[.] Another likely outcome is a spike in demand for reverse mortgages. This program enables homeowners 62 and older to borrow money using their home equity as collateral. The loan is repaid to the bank, along with interest and fees, after the borrower moves or dies. The funds must first be used to pay off the mortgage, which then frees the homeowner from monthly payments.

So what's your personal game plan?  Pay off the debt ASAP before retirement, or face it down the road?

Think about it.   Read the full story, Carrying Debt After Retirement.

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