Retirement can bring a renewed sense of freedom and, at the same time, uncertainty. How will you spend your days? Travel? Spend more time with family? Take up new hobbies? One area you don’t want any uncertainty is with your finances. You’ve worked hard to position yourself to be financially ready for this next step. It’s not just your assets and income you need to monitor—keeping a watchful eye on your credit is important too.
You may not have any big purchases on the horizon, but credit will still play a role in your retirement. Below are some tips to help you maintain healthy credit and keep your identity safe at this stage of your life.
Why credit is important in retirement
You’ve likely spent decades building up a comfortable nest egg so you can pay your bills and enjoy your days. You’ve also likely spent that time slowly building up your credit health as well. Some retirees may not plan on making any major purchases or using financing if they do. But even in retirement, unexpected circumstances or opportunities may come up — you want to be sure you’re prepared.
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