Americans' debt, often cited as a primary obstacle to consistent and adequate retirement funding, has fallen for many since the financial crisis—but it has ballooned since the 1990s as wages for many have struggled to keep up.
Lower-income Americans' debt levels have been hit hardest since the financial crisis. In 2007, that segment's household's debt was equivalent to one-fifth of their income.
By 2013 it had jumped to half of income, according to new research from the Pew Charitable Trusts.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.