Baby Boomers Retire With Record Debt Levels in 2022
In 2022, nearly 70% of baby boomers carried debt into retirement, with mortgages being the largest contributor. Younger boomers (ages 58–66) were more likely to owe compared to older ones (67–76). Retiring with significant debt increases financial risk due to limited income and rising expenses.
Topics: baby boomers debt management financial risks retirement