A new survey by Key Retirement Solutions shows that old aged pensioners are struggling with unsecured debts - the average 60 yr old now owes £35,000 in unsecured credit.
Out of the 4620 pensioners questioned, some 63% have unsecured debts but adding average mortgage debts of £31,000 takes the debt spiralling up to a whopping £66,000 and all of that on a pension!
In another complimentary report from financial education charity, Credit Action, debt was found to be rising among the elderly faster than with any other age group.
With more people taking debts into retirement and still a large percentage of the population not saving adequately for retirement, there could be some problems on the horizon in the coming years.
For more information, hints, tips and money-saving ideas, visit FeelGoodLoans.co.uk
Fitness thoughts...
My grandmother started walking five miles a day when she was 60. She's 97 now & we don't know where the hell she is!
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