Debt levels among Americans age 55 and older continues to rise, which could
put millions of baby boomers’ homes at risk, according to a new report, from the Employee Benefit Research Institute in Washington, D.C. The
average debt among this age group is $73,211. The percentage of
Americans age 55 and older with debt payments greater than 40 percent of
their income rose to 9.2 percent in 2013, from 8.5 percent in 2010.
What’s more, the percentages of families whose debt payments are
excessive relative to their incomes is at -- or near – the highest levels since 1992, according to the report.“Consequently,
even more near-elderly and elderly families are likely to find
themselves at risk for severe changes in lifestyle after retirement, read more.
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