The financial collapse of the last decade continues to have an impact on the increased debt carried by this generation over the past two before it. That newer, larger home is keeping many in debt well beyond the time they had pegged for retirement.
“The evidence clearly shows that many Americans” on the cusp of retiring “continue to be burdened by debt and to be financially vulnerable,” the researchers said.
The evidence mounts. Baby boomers who either can work longer or somehow reduce their debt before retiring should do so. If not, they’re taking a big step into the unknown.
More reasons to look at new forms of work and engagement in the economy for the post 50 crowd.
Link to the full article: Boomers’ Mortgage Debt Predicament