Researchers at the Urban Institute found that Americans in their 60s now carry a heavier debt tally than their counterparts more than a decade earlier. In 1998, debt-burdened 60-somethings made up just under half of that age cohort. In 2010, that percentage had grown to nearly two out of three. As a share of their assets, their debt leaped during the same period from 10 percent to 18 percent.
These findings came to light in the “Squared Away Blog” on the Center for Retirement Research at Boston College’s website. Funding for the research came from a grant from the U.S. Social Security Administration through the Retirement Research Consortium of which the center is a member.