I have had a look at what I am retiring on and it is not healthy. I have managed to save almost or next to zero and managed to accumulate a large amount of debt. All in all close to $38,000 in unsecured debt.  I am of course worried about how I can afford to pay that debt and still have a roof over my head and food on the table. My wife is still working. She is 5 years younger than I am, but still, I do not want this burden to go to her.

I am working full time making decent money but can save very little with the debt load. When I think back though we had great times in life and what we spent was well worth it. Enjoying our children and grandchildren. I have no regrets about that.

We have had a great life as I mentioned and still enjoy our life. Made good money most of the time. Owned a few businesses on the way and had a lot of fun along the way. Met some really interesting characters along the road of life. Some good and some bad. Often it was hard to tell with the state I was in. I enjoyed the spirits in a bottle sometime a little too much. That I figured out years later was a financial cost. Something few people think about at the time.

Now as I am settling into the top end of 50 years, I look back on advice I have always been given. Save for the golden years. Now I wish I would have heeded to the wise advice of family members and not strayed to the outer limits of enjoying life. Maybe I could have cut back a little. But as they say, hindsight is 20/20. no eye crutches needed.

Now I am left with a few decisions: 

1. I can reach out to a debt counseling coach or society and see what can be negotiated with creditors to align this debt with what I can afford. This goes against all principle I hold dear. I have never asked for help in my life. I have always figured it out and found the answers. Going this direction makes me look and feel like a non-winner. I do not want to use the other word for fear of hurting the feelings of others reading this post that may be in the same position.
2. Perhaps wait for a rich fairy godmother/godfather (not the one you are thinking of. lol) or an individual with money  to appear and pay off my debt. We all know that the chances of this happening are off the charts. Not that it cannot happen but the chance of this is slim.
3.  Marrying a rich widow or heir to a fortune is out of the question. My wife will not let me. So wash the table and get rid of that one.
4.  Walk away from the debt. I could justify this by saying how many years I have paid that ridiculous interest and got nowhere fast. This, of course, would cause me headaches on my credit rating and unable to have a bank account for fear creditors will seize all sums of money. That from what I understand is one wage that cannot be garnisheed. But what I have been offered for old age security is a pittance to live on. Also, I would have to live with myself as not being honorable. I believe in paying back. These companies  trusted me enough to extend credit. 
5.  Wait for an inheritance to come my way. That is sick even for me to think of. Wishing someone would pass to make my life easier. Flush that thought from my head!!!

My solution to this dilemma is to continue working as long as I am able and to save what I can when I can. Although the work I do now full time hurts my knees every time I have to bend down to do any work, I still must stay with it. I am a service technician for a wholesale food company. So I am constantly bending and lifting equipment from coffee and juice machines to dishwashers and glass washers.

What would be a good solution to my dilemma would be a career change to a little less strenuous form of employment.  I have been working with the public all of my life. Perhaps I could get into sales or take a second gig to supplement!!

This was discussed on The Motley Fool website. Have a read!!   Three things to do if you are in your 60’s and no savings.

Time will tell and I will keep my reader’s updated.

If you have any suggestions or employment ideas, I am all ears. Please feel free to comment.

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