Human Longevity Literacy, and How Debt Impacts Credit Scores
Improve your longevity literacy so you don\u2019t retire too early (or late!), then learn how debt affects your credit score.\n01:31 This Week in Your Money: Sean Pyles and Liz Weston delve into the significant yet often overlooked concept of longevity literacy. They discuss how understanding your life expectancy can greatly influence retirement planning, and they share a life expectancy calculator you can use to get a personalized estimate of your life expectancy.\n07:52 Today\u2019s Money Question: Sean and Liz debunk common credit score myths, such as the idea that you can\u2019t have good credit scores without debt. They also discuss how different types of credit accounts, like revolving accounts and installment loans, can affect your credit score, as well as the importance of responsibly managing credit card use. Plus, you\u2019ll learn about the impact of closing an installment loan on your credit score and the importance of keeping credit cards open. You\u2019ll walk away with nerdy, actionable insights into effective debt management strategies.\n20:03 Takeaway Tips.\nIn their conversation, Sean and Liz discuss: longevity literacy and illiteracy; retirement planning; human life expectancy; life expectancy calculators; retirement age; credit score myths; debt management; revolving accounts; closing installment loans; credit card use; paying balances; credit card debt; personal finances; and closing accounts.\nTo send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com.\nLike what you hear? Please leave us a review and tell a friend.