학술논문
Paying It Back : Real-world Debt Service Trends and Implications for Retirement Planning
Document Type
Chapter
Author
Lester, Anne, author; Santiago, Katherine S., author; Oh, Je, author; Wu, Livia, author; Chegaeva, Ekaterina, author
Source
Remaking Retirement : Debt in an Aging Economy, 2020, ill.
Subject
Language
English
Abstract
This chapter uses a unique new dataset to answer some exciting and fundamental questions that have not been fully addressed previously, regarding the connection between Americans’ debt, income levels, and risk tolerance. In particular, we provide an overview of the debt service patterns of older consumers derived from de-identified Chase data. Moreover, we consider how debt profiles change dynamically, as people transition into and move through retirement. Our primary purpose is to explore how real-world debt service trends vary over the life cycle, and how this influences the ways in which they save for and live in retirement.