Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/216494 
Year of Publication: 
2020
Series/Report no.: 
IZA Discussion Papers No. 13182
Publisher: 
Institute of Labor Economics (IZA), Bonn
Abstract: 
Household debt among older Americans approaching retirement has increased dramatically over the past couple of decades. Older households have become increasingly more indebted and more leveraged. While mortgages remain the predominant type of debt among households in their 50s and 60s, in recent years, student loan debt has also risen among these households. Using household survey data to examine how late life debt affects retirement decisions, we find that more indebted older adults are more likely to work, less likely to be retired, and on average expect to work longer than those with less debt.
Subjects: 
older adults
household debt
mortgages
student loan debt
retirement
social security
JEL: 
J21
J26
Document Type: 
Working Paper

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