“Rising Number Of Older Americans Carrying Debt Into Retirement,” by Jadah Riley, Financial Advisor

“Between 2003 and 2015, debt among borrowers between the ages of 50 and 80 increased by roughly 60 percent, according to a 2016 study by the New York Federal Consumer Credit Panel. Student debt among retirement aged borrowers 65 and older swelled 385 percent between 2005 and 2015, while overall debt levels for the age group spiked from 2 billion to 22 billion in roughly the same time period, according to the Government Accountability Office (GAO).”

LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):

Piling on debt they’ll never be able to repay. Where did the elderly get an idea like that? Hmmm, maybe Medicare, Social Security, and Medicaid, not to mention the sirens’ call of government-backed student loans. Beware the reckoning.

Rising Number Of Older Americans Carrying Debt Into Retirement

#debt
#retirement
#goldencareagent