A majority of Baby Boomers expect to carry mortgage debt into retirement, which is a concern since most retirees will be on a fixed income when they finally decide to stop working full-time.
A survey conducted by Securian Financial Group found that nearly half of retirees carry debt into retirement. More than half of those carried $25,000 or more and 21 percent held $100,000 or more in debt at retirement.
The numbers are troubling because for retirees on fixed incomes, debt payments are extremely burdensome and become more so as the cost of living rises, said Michelle Hall, manager of market research for Securian Financial Group.
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