Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Personal Finance and Investing

3Hotdogs

(13,766 posts)

2. I've been retired for 16 years. Mortage has been paid off and I have a defined benefit pension.

Reply to question everything (Original post)

Mon Jul 17, 2023, 11:53 PM

Jul 2023

".... to maintain a healthy credit score, retirees should continue to keep credit accounts active by using them regularly."

That is the shittiest advice that only a banker would give: Borrow money and pay interest so that you can borrow more money and pay more interest.

We should saving a percentage of our working income so that we don't have to borrow. Yes, I know, not everyone can do that.

AND FINALLY, do not discount bankruptcy as an option if things get out of hand.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

3 replies

= new reply since forum marked as read

Highlight:

They Had Great Credit Scores. Then They Retired. [View all] question everything Jul 2023 OP

No, or very little, sympathy. Information on what to do with your... TreasonousBastard Jul 2023 #1

I've been retired for 16 years. Mortage has been paid off and I have a defined benefit pension. 3Hotdogs Jul 2023 #2

Retiring is not the death of credit scores. PoindexterOglethorpe Jul 2023 #3