Kassel states,”Most workers earn about 480 cover cheques within their working life between the ages of 25 to 65. The ordinary person can expect to live until at least 85. This means that they will need to utilize these pay cheques to finance retirement income of 240 weeks. At this speed it’s difficult enough without being saddled with debt repayments to meet basic expenses – hence any retirement savings plan must incorporate a debt repayment program. “Ideally, each of debt ought to be eliminated by age 45. This allows time to improve your retirement contributions rather than paying attention . Liberty advisor Phillip Kassel says greatly indebted income earners will need to be.