Older Americans Becoming Increasingly Deeper In Debt

New data from the US Census shows that it's becoming ever more likely that your parents may need to move into your place.

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New data from the US Census shows that it's becoming ever more likely that your parents may need to move into your place: "The median level of debt among households led by someone 65 and older..rose nearly 120% between 2000 and 2011 from roughly $12,000 to $26,000, due largely to rising mortgage debt."

The median debt of retirement-aged people is $26,000, and the majority of workers have less than $25,000 in total household savings.

Better get moving on clearing out that spare room.

Oh, and don't forget their dog...and mom is going to need space for her ladies group on Tuesday nights.

About Diane Sweet

Diane Sweet's picture
Senior Editor, Lives in a gerrymandered district in Michigan.

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