Retiring with debt
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Studies by...
By Katherine Marshall
In 2009, one-third of retired individuals age 55 and over, whether single or in a couple, held mortgage or consumer debt.
The median amount owing for retirees with debt was $19,000.
The likelihood of having debt was significantly higher among younger retirees, homeowners, the divorced, those with a higher household income and those with a lower net worth.
Questions on financial self-assessment show that about 80% of retirees have a positive view of their financial situation.
Factors that significantly lower financial self-assessment include having any level of debt, being divorced, being an immigrant, and having a relatively low income and net worth.
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