When you count up how much money you have saved for retirement, do you factor your debt into the calculation?
Coming to terms with debt has become a major part of retirement planning. A study released earlier this year by the Employee Benefit Research Institute (EBRI) found that debt levels among older Americans have grown to a disturbing degree over the years, enough that they now pose a serious threat to retirement security.
Senior debt crippling retirement security
Here are some of the EBRI findings that document how debt has become an increased threat to retirement security:
- In 1992, 51.5 percent of families aged 55 and over had debt. By 2016, that number had soared to 68 percent.
- Senior debt is not just a low-income problem. In fact, hig…
Read the full article at: https://www.money-rates.com/advancedstrategies/debt-threatens-retirement-security.htm