To have the freedom to enjoy their retirement without financial stress or limitations.
To have the financial stability and security to handle any unforeseen medical expenses or emergencies.
To have the ability to leave a financial legacy for their children or loved ones.
To have the peace of mind and confidence in their financial future.
Why might it be important to someone in their 50s to have as much of their debt paid off as possible?
To avoid passing down debt if they were to die suddenly.
So they are not burdened with debt payments during retirement.
To have enough money to start a pre-tax savings plan
To be eligible to receive social security and Medicare in retirement
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