11 Simple Money Moves to Retire a Millionaire

4. Minimize Debt

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This one is easier said than done. However, high-interest debt is a major bottleneck standing in the way of your retirement savings and your road to retiring a millionaire. In worst-case scenarios, you may be carrying it up to your retirement, which will significantly drain your funds then too. Nevertheless, minimizing debt is crucial to free up your money and divert it to your retirement accounts. To minimize your debt faster, create a debt repayment plan where you prioritize high-interest debts and make minimum payments on the rest. You may also consider consolidating your high-interest debts into a single debt to minimize your payments and lower the interest you need to pay. Contact your creditors and negotiate a lower interest rate, considering you have a good credit history.