Tag: older adults
Abstract This paper uses financial data from a major credit bureau for a nationally representative 2 percent random sample from more than 250 million consumer records to examine the financial health and indebtedness of older adults. The data cover the years 2010 through 2019 and follow the same consumers over time. Consumer records include numerous…
The brief’s key findings are: Individuals make the most effective financial decisions in middle age, resulting in lower fees and interest rates on credit and loan transactions. Financial performance declines for older adults, raising a potential concern as the retirement system has shifted more decisions to individuals. A range of policy responses is possible –…
