4 February, 2025
Senior citizens (56 to 61 years old) with unsecured debt and high interest rates, tend to be among those most exposed to financial difficulties. Many people also carry their debt into retirement. This study examines three potential reasons for this worrisome behavior: limited financial education, lack of information and behavioral biases. The authors explain how each of these factors can lead older people to carry excessive debt and the implications for their well-being in retirement.
Some key conclusions of this study are as follows:
4 February, 2025
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