Realities Bring Baby Boomer Blues
As baby boomers now approach retirement, many are facing a harsh reality: the Grim Reaper could come calling before they ever pay off their mortgage, reports Newsweek.
Since 1989, the percentage of Americans ages 55 to 64 who still have a mortgage has risen from 49 to 63 percent, according to Harvard’s Joint Center for Housing Studies. During that same period, the median balance owed by this group has nearly tripled, to $85,000.
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Category: Boomer Lifestyle
This is a, to use a boomer phrase, real bummer!
Not a bummer for the deceased. Just for the survivors. As I recall the article, it was saying that boomers are running up debt and figuring woo hoo! We’ll never have to pay it back, baby!!