business man in tiny boat trying to row away from sharks (Photo: Shutterstock)

If we ever needed proof that the level of debt people carry is preventing them from adequately preparing for retirement, we have only to look at some of the stats from the latest WalletHub survey.

Not only did we start 2019 with more than $1 trillion in credit card debt, even though consumers managed to pay off $38.2 billion in credit card debt during the first quarter last year, says the report, but “poor second-quarter results nearly erased that effort.”

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Marlene Satter

Marlene Y. Satter has worked in and written about the financial industry for decades.

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