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Fact of the Week: 16 November 2015

FACT OF THE WEEK

Almost two thirds of US families with heads age 55+ have debt

"The percentage of American families with heads ages 55 or older that had debt increased from 63.4 percent in 2010 to  65.4 percent in 2013…However, total debt payments as a percentage of income decreased from 11.4 percent in 2010 to 10.0 percent in 2013." according to a 2015 analysis by EBRI of Survey of Consumer Finance data.
       
 
       
Copeland, C. (2015). Debt of the elderly and near elderly, 1992–2013. (p. 1) EBRI Notes, 36(1), 1-14. Retrieved from http://www.ebri.org
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