And San Diego Gas & Electric employees should cut high-interest loans like student loans, credit card balances, and auto loans to free up cash for retirement—Tyson Mavar, of The Retirement Group, a division of Wealth Enhancement Group.

By paying off high-interest loans before retirement—student loans and credit card debt—San Diego Gas & Electric employees can prepare to retire with more of the wealth they’ve earned—Wesley Boudreaux, of The Retirement Group, a division of Wealth Enhancement Group.

In this article we will discuss:

• 1. Paying off student loans before retirement.

• 2. High-interest debt management strategies like personal loans and credit cards.

• 3. How to prioritize auto loans and mortgages during retirement.

Introduction:

It is a milestone in every working American's life—but especially for San Diego Gas & Electric employees. You need to take important financial steps now that you are approaching this stage in life. Yet too many overlook the right loans and miss out on retirement. We examine the three loans Americans must pay off before they can retire. These insights will help you make sound decisions and improve your financial future.

Tackling Student Loans:

College and university loans are often lifelong debts that remain well into retirement age. These loans may also add up if borrowed to pay for college fees for children. While federal student loans are cheap now, the payment and interest freeze the Trump administration instituted will expire soon.

A new 2026 study by New York Life estimated that it takes, on average, 18.5 years to repay student loans. Keep these loans from limiting your retirement income with a strategy similar to managing mortgage payments. Make monthly payments to repay student loan debt faster and closer to retirement.

Managing Personal Loans & Credit Card Debt:

Personal loans and credit cards typically carry high interest rates, especially credit cards—on average, 23.39% on a U.S. credit card, LendingTree reports. Often unexpected personal expenses build up on credit cards and cause major debt problems.

Paying down credit card balances now could keep your retirement savings from derailing. Redirect some money from mortgage payments to high-interest loans. This will save you interest costs while building an emergency fund equivalent to three months’ wages to cover unexpected costs.

Dealing with Auto Loans:

Auto loans have high interest rates—some with bad credit—that rival credit cards. Car loan payments, credit card debt, and other financial obligations can leave little cash for retirement.

Debt repayment versus early retirement could save you money in interest. Paying off auto loans aggressively can create a cushion and pave the way to a more comfortable retirement.

Addressing Mortgages:

Mortgages have relatively lower borrowing costs but provide tax breaks that few personal loans and credit cards offer. Homeowners also can take federal and state tax deductions on mortgage and home equity loans.

The average national mortgage rate for a 30-year fixed rate is 6.15%, so paying down your mortgage might be tempting. But if your ultimate goal is retirement security, pay off higher-interest loans first. That way you save more money in the long haul and can better contribute to your retirement fund.

Conclusion:

When you retire from San Diego Gas & Electric, smart financial planning is key to a stress-free retirement. Repaying high-interest loans like student loans, personal loans, and credit card debt early frees up money for your retirement. While mortgages have tax benefits, avoiding high-interest debts will put you closer to your retirement goal.

A San Diego Gas & Electric-focused financial adviser can help you make those decisions, tailor your investments, and make sure your money works for you. Profit from reliable platforms that match you with experienced financial advisers—so you can find the best professional for your situation.

Remember—planning and executing a financial future is a journey. By managing your debts, creating an emergency fund, and optimizing your retirement savings, you can live comfortably into your golden years.

This startling statistic underscores the need to prioritize student loan repayment among our 60-something target audience—those in the San Diego Gas & Electric and poised to retire soon. Getting rid of student loan debt early could improve their financial future during their golden years.

The preparation for retirement is like building a foundation for a dream house,” she said. Like you lay down bricks and reinforce walls, you must pay off three loans before you move into retirement. Think of student loans as structural beams supporting your education and future. High-interest credit cards are stubborn weeds that must be trimmed regularly. Those auto loans, in turn, are the paved driveway to your secure retirement. Remember, your mortgage is the roof over your head from life's storms—but you need to make sure you make the right loans to get you the retirement you deserve.

Before tapping into any retirement account early, it helps to see the full scope of what San Diego Gas & Electric makes available to employees. According to publicly available information, San Diego Gas & Electric maintains an active defined benefit pension plan, which provides retirement income based on factors such as years of service and compensation history. San Diego Gas & Electric also offers retiree healthcare benefits to eligible employees, which can provide meaningful coverage for those who retire before reaching Medicare eligibility at age 65. Because the specifics of your pension formula, vesting schedule, and benefit eligibility depend on your individual employment history and plan documents, We encourage you to review your Summary Plan Description (SPD) or speak with San Diego Gas & Electric's HR or benefits team for the most current details.

Sources:

1. Hanson, Melanie. 'Average Time to Repay Student Loans.'  Education Data Initiative , 21 July 2026,  https://educationdata.org/average-time-to-repay-student-loans .

2. Welding, Lyss. 'How Long Does It Take to Pay Off Student Loans?'  BestColleges.com , 19 Jan. 2026,  https://www.bestcolleges.com/research/how-long-to-pay-off-student-loans .

3. Bell, Chuck. 'Why You Should Think Twice About Getting That Retailer Credit Card on Black Friday.'  Consumer Reports , 15 Nov. 2026,  https://www.consumerreports.org/credit-cards/why-you-should-think-twice-about-getting-that-retailer-credit-card-on-black-friday .

4. 'Credit Card Interest.'  Wikipedia , 2 Jan. 2026,  https://en.wikipedia.org/wiki/Credit_card_interest .

5. 'Installment Loan vs. Payday Loan: What's the Difference?'  Investopedia , 15 Nov. 2026,  https://www.investopedia.com/installment-loan-vs-payday-loan-what-s-the-difference-8716602 .