Have you ever consider how a poor credit score might affect your retirement? Minnesota retirees are thinking about it. Minnesota is number 5 on the top 10 States to retire to – which is very useful, as by 2020 there will be 21 people over 65 for every one person who is working age in the area.
That’s right; in less than ten years there will be 21 retirees for every one person aged between 25 and 64 in Minnesota. This statistic shows that there is a tremendous demographic shift in the Midwest state, so it is essential for future retirees to think about their upcoming retirement. After all, retirement can be more complicated than people realize, and a weak credit score could affect it further.
Here are some ways a poor credit score could ruin your retirement.