Debt Free In 30

In this episode, Doug and Ted address the growing issue of payday loans among seniors, highlighting factors such as fixed incomes, rising living expenses, and predatory lending practices. They also discuss the financial strain of supporting adult children and the risks associated with co-signing loans. Tune in for practical advice on managing debt, avoiding scams targeting seniors, and navigating financial challenges in retirement.   Time Stamps: 00:00 Introduction 01:48 Why are payday loans a problem if you are a senior? 04:03 How does a senior end up in debt? 05:45 Payday loans and rapid loans 08:10 Seniors supporting their adult children 10:38 Seniors carrying debt into retirement 11:54 Practical advice 12:30 How can you tell if your parents are in debt? 15:13 How to retire with no debt 21:12 Seniors and financial scams 22:55 Co-signing loans for friends and family 25:00 Should seniors’ cash in their RRSP to pay off debt? 27:15 Should seniors file a consumer proposal or bankruptcy? Related Links: Seniors T