Kaplan: Implications of Credit Card Debt for the 50+

Monday, March 11, 2013

Professor Richard Kaplan spoke with Card Hub, an online credit card resource, about the causes and implications of rising credit card debt among Americans approaching retirement and the penalties for taking Social Security early.

"There’s no doubt that if they’re saving for retirement, the very best investment they could make – one that would return as much as perhaps 18% a year – would be to get rid of any credit card debt.  … That should be sort of mission No. 1: Pay down the credit card debt so that you’re not paying these ridiculously high interest rates."

More at cardhub.com