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Is Household Debt Growing for Older Americans?

Author

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  • Nadia S. Karamcheva

    (Urban Institute)

Abstract

An increasing number of Americans are entering old age with outstanding debt, forcing many retirees to devote some income to servicing their debt and leaving them with less to cover daily living expenses. Using Health and Retirement Study (HRS) data, this brief reports that the share of adults ages 65 and older with outstanding debt increased from 30 to 46 percent between 1998 and 2010. The inflation-adjusted median value of debt grew 56 percent over the period and the average ratio of total household debt over total household assets more than doubled.

Suggested Citation

  • Nadia S. Karamcheva, 2013. "Is Household Debt Growing for Older Americans?," Issue Briefs 2013-33, Urban Institute, Program on Retirement Policy.
    • Handle: RePEc:rbn:briefs:2013-33
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    Cited by:

    1. Butrica, Barbara A. & Karamcheva, Nadia S, 2020. "Is Rising Household Debt Affecting Retirement Decisions?," IZA Discussion Papers 13182, Institute of Labor Economics (IZA).

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    Keywords

    debt; older ages;

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