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More Seniors Facing Bleak Retirement Due to Debt

By Gerry W. Beyer

Senior scam

Seniorsshould be worrying about their retirement as the average debt of seniors is increasing andthe number of seniors in debt are rising. A recent report shows “seniors 65 and older are carrying more than$50,000 in debt and that number is up 80% from 2001.” 

These figures demonstrate that most seniorsare ill-prepared when they plan for their own retirement.  The main contributors to senior debt are creditcards, house-related debt, and medical bills.

See Teresa Sardina, Not So Much the ‘Golden Years’, Senior DebtClimbs, KETKNBC.com, May 29, 2013.

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Disability Planning - Health Care, Elder Law and Estate Planning - Generally