7 Ways to Worry Less About Your Retirement

1. Take care of debt

Happy woman with card
Kues / Shutterstock.com

Eliminating debt is what most survey respondents believe would have the most significant impact on their financial situation — even more so than earning a lot more income.

Most experts would agree that eliminating or reducing debt is a great way to improve your financial outlook.

Depending on your situation, you can reduce debt by:

  • Adjusting your budget so you can make bigger payments against your debt
  • Securing a reverse mortgage to eliminate ongoing mortgage payments
  • Consolidating debt into a lower interest credit card or a home equity line of credit
  • Downsizing your home to reduce the size of or eliminate your mortgage
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