- Over five million adults in the UK1 haven’t got a clue how much they owe in outstanding debts.
- 15% feel their debt is out of control and have no way of paying it off, rising to 18% of 45-54 year olds
- Half (48%) of over 55s have some sort of debt in the decade before retirement, more than one in ten (11%) still have a mortgage.
According to the latest study from Aviva, two thirds (67%) of Brits admit to having debt that’s weighing them down. Almost one in ten (9%), or the equivalent of just over 5 million adults in the UK1, haven’t got a clue how much they owe in outstanding debts and worryingly this figure rises to more than one in six (16%) of those aged 45 and over.
Overall, one in 7 (15%) feel their debt…
Read the full article at: https://www.aviva.com/newsroom/news-releases/2023/05/more-than-1-in-10-over-55s-have-mortgage-debt-in-the-run-up-to-retirement/