COLUMBUS: A new study finds that, by many measures, debt levels among those age 55 and older continue to climb, putting millions of families—and their homes—at risk.
The report comes from an Employee Benefit Research Institute. On the positive side, total debt payments as a percentage of income within this group fell to 10% in 2013, from 11.4% in 2010. At the same time, average debt decreased, to $73,211 from $80,465.
The percentage of households where the head of household was age 55 or older that had financial liabilities increased to 65.4% in 2013 from 63.4% in 2010. In 1992, the level was 53.8%…