The Law Office of Andrew Magdy
Saint Louis Bankruptcy

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Retirement Planning and Bankruptcy

I recently read an article on Yahoo that stated 31% of Americans have no retirement savings at all. (See the article here). The article went on to say that 19% of people between the ages of 55 and 64 have no savings at all.

All too often we meet with clients in this exact situation. They are nearing the end of their working careers but have no idea how they are going to retire. In order to keep paying the minimums on their credit cards they are not making contribution to their 401(k) or IRA, or worse have cashed them out to pay their bills.

Bankruptcy can serve as an excellent retirement planning tool. By eliminating your unsecured debt, you are freeing up money that can be used to contribute to retirement savings. If you are uncertain about your retirement and struggling with overwhelming debt, contact us today for a free consultation. Bankruptcy just may be your key to a successful and happy retirement.