The most important reason for someone in their 50s to have as much of their debt paid off as possible is so they are not burdened with debt payments during retirement. Reducing or eliminating debt can help ensure that they have more financial freedom and stability in retirement, allowing them to focus on other essential expenses and enjoy their retirement without the stress of ongoing debt obligations.
Why might it be important to someone in their 50s to have as much of their debt paid off as possible?(1 point) Responses to avoid passing down debt if they were to die suddenly to avoid passing down debt if they were to die suddenly to have enough money to start a pre-tax savings plan to have enough money to start a pre-tax savings plan so they are not burdened with debt payments during retirement so they are not burdened with debt payments during retirement to be eligible to receive Social Security and Medicare in retirement
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