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Impact of Debt on Retirement Happiness

May 30, 2024

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Recent study found that debt can affect happiness in retirement.

According to a recent report of retirees, post-work life might not be all that it’s cracked up to be. The survey of more than 2,000 retirees found that a third of them aren’t happier since leaving work for good. Can you guess one of the biggest reasons why?

Retirement Happiness

Though a third of retirees were not happier in retirement, it seems that most people do get some pleasure from their golden years.

The study showed that 67 percent of recent retirees (retired for 15 years or less) are happier since leaving work.

Also, a whopping 82 percent of retirees said they feel “more relaxed” than they did while working. 

Debt and Happiness

Those who reported feeling happier in retirement had one big reason why: No debt. About 62 percent of retirees who said they were “much happier” in retirement also said they had paid off all of their debt before retiring. Meanwhile, among those who reported that they were not happier in retirement, only 48 percent had paid off their debts.

 Deal With Debt Now

Dealing with debt in retirement can be a stressor. That makes sense, as your income is typically limited. Even when you are working, debt can make everything tough. If you’re struggling with debt, don’t wait to address the issue until retirement.

  • Make a plan that you can stick to
  • Pay down the debt as fast as possible.

You don’t want it hanging over your head in retirement.

Do One Thing: Revamp your budget to create extra money that can be used to pay down debts.


This article was originally posted on


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