This is a horrible generalization. It's all about cash flow and assets. If you lose your source of income tomorrow can you repay the debts and maintain your lifestyle? If not work to get rid of all the debt. There is no such thing as good debt when you are older UNLESS you do not need the debt and can satisfy not just the current payments, but the total amount of debt out of liquid assets without it affecting your lifestyle. People over 65 just do not have the time or expertise to recover from losses to investments. Theoretically taking out debt at a lower interest rate then you will realize from an investment is "good" debt (this does not include a home mortgage from which a retiree will get very little benefit. Bad Advice!