Credit management is a crucial aspect of financial planning. Aside from helping establish your borrowing power, it also ensures financial health. Your credit score is highly relevant, no matter what phase of life you’re in. It determines many financial opportunities, rates and lending options.
Generally, retirement doesn’t directly affect your credit score, as credit reports don’t factor in your current employment information. However, changing your lifestyle and adopting new spending habits in retirement may impact your financial profile. As you transition into your golden years, knowing how to maintain a good credit score and what mistakes to avoid can help you attain a stable and secure financial future.