Those born in between the mid 1960s through the late 1970s are part of the age group known as Generation X. Often described as directionless or navigating their way through life without purpose or particular focus, many Gen Xers in Louisiana and elsewhere would likely take offense to such stereotypes. There is one thing that a lot of people born in this particular era seem to have in common, however, and that is substantial credit card debt.
Many Gen Xers who have participated in interviews regarding retirement savings, financial stability and debt say before they can even consider setting savings aside for their retirement years, they would first have to dig their way out of deep debt. In addition to credit card debt, student loans ranks high on the list for non-mortgage debt that impedes the ability to save money among survey participants. In fact, such debt appears to linger somewhere in the neighborhood of $23,000 on average.
Many people hesitate to seek debt relief assistance because they are embarrassed about their financial situations and don’t want other people to know. Others understand that reaching out for support is often a means to getting things back on track and pointed in the right direction for restored financial stability in the future. Often, taking a proactive stance is the first step toward success when hoping to overcome a serious financial crisis.
An experienced Louisiana debt relief attorney is fully prepared to assist anyone in this state wishing to explore credit card debt relief options. Sometimes, all it takes is a single phone call to get the ball rolling and determine the best path to suit one’s immediate needs and future financial goals. Most debt is temporary and most financial problems are solvable; the trick is to develop the best plan of action available according to the circumstances at hand.
Source: planadviser.com, “Credit Card Debt Preventing Many Gen Xers From Saving for Retirement,” Lee Barney, Nov. 29, 2017