8/23/2015 – How Boomers loaded with debt can dig out (USA Today)

Aug 24, 2015 Comments Off by

The stats, at first blush, are staggering. According to a new Pew Charitable Trusts report, eight in 10 Baby Boomers — those born from 1946 to 1964 — hold some form of debt, and nearly half (47%) still have a mortgage, which, on average, totaled $90,000. And, more than half (58%) of the so-called Silent Generation — defined as those born from 1928 to 1945 — still have debt, and nearly three in 10 (28%) still have a mortgage, which on average, totaled $76,000, according to Pew’s report. And that debt could cause big problems down the road. “Because most older Americans are not eliminating debt before retirement, they may be at greater risk of financial insecurity in their golden years,” wrote the authors of the Pew report, “The Complex Story of American Debt,” out in July.

Read the full article in USA Today.

Financial Landing 2015

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