I worked with a lady, who’d gone off in the mid 1990s, and spent five years in a college program (out-of-state tuition rates). By the end, she had raked up around $75k in debt. She was lucky in that she was able to get a decent paying job. So as we worked, it was apparent that the debt and monthly payments were harming her future. She was putting little to nothing in IRAs. She couldn’t afford a house. She was figuring around age 40 that she’d finally climb out of debt. I didn’t say much to her, but it was obvious that it affected her life.
Her husband that she’d married early on....didn’t know about the amount of debt, or the monthly payments required. That marriage lasted three years.
When you look around....there’s hundreds of thousands of people like this, and it’s messed up retirement potential of these people.
These same people will spend $600 a month on cell phones & usage, and NOT pay down their college debts.
My sympathy jar is empty.
I think retirement planners say to start earlier. But realistically age 40 still provides ample time to start saving for retirement. When I was 40 I don't remember very many people my age mentioning they had retirement savings.
Filthy, greedy institutions of higher anti-American indoctrination are responsible for this.
It is in large part, self-inflicted stupidity. These ppl need to adapt to the changing times. When college puts you into debt for decades, DON’T DO IT!! Get another form of education.