Student loan debt, skyrocketing medical bills (with or without health insurance), high costs of living and a myriad other assaults on the bank account are all taking their toll.
In fact, Americans owe more than $4 trillion. Debt seems a normal way of life for many—or, as Charles Dickens wrote in Little Dorrit, "they had come to regard insolvency as the normal state of mankind, and the payment of debts as a disease that occasionally broke out."
Lest this habitual condition of insolvency, as Dickens puts it, threaten retirement, workers are trying to lower the levels of their debt so that they might have funds to save for the day when they simply can't work any longer.
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.
Marlene Satter
Marlene Y. Satter has worked in and written about the financial industry for decades.
