Whilst we are enjoying the full bloom of our youth, planning for the future is exciting. It is a chance to build dreams, to set ourselves life goals and a whole host of things the work for. The future still contains all kinds of possibilities and we are free to try and shape it with all the power of our ambition and imagination. However, as you get older the future starts to seem a little duller. Instead of planning great adventures and exciting career developments, unfortunately it is often necessary to turn our attention to subjects of a gloomier nature.
If you're retired or approaching retirement and you have debts that you're struggling to repay, you're certainly not alone. Last year, research by Saga suggested that one in five 60 to 65-year-olds were still paying off their mortgage, and were likely to use some of their pension to clear their debt. Similar research by Prudential earlier this year found that many people approaching retirement still have credit card debts to repay.
