Free Ebook.

Enter your email address:

Delivered by FeedBurner

« Two Ways to Improve Your Retirement Savings | Main

September 10, 2018


Feed You can follow this conversation by subscribing to the comment feed for this post.

Later on in the article they show debt for those who owe money:

If these numbers are right it means the following percentage of people don't have debt:

Under 35: $300,000 (77% are debt free)
35-44: $500,000 (73% are debt free)
45-54: $600,000 (78% are debt free)
55-64: $550,000 (80% are debt free)
65-74: $550,000 (88% are debt free)
75+: $500,000 (93% are debt free)

The number of debt free individuals seems a bit off to me, I'd expect it to be lower in the earlier decades, but maybe I'm out of touch.

Below poverty line (12% of population)? Probably little to no debt because ineligible to borrow.

Rent your home (36% of households)? No mortgage debt - the largest debt most people have.

Are car leases (~30% of cars are leased) counted as debt? If not, there's the second largest source of debt listed as zero.

Are averages useless metrics for analysis of unevenly-distributed data? Yes.

These numbers are magical. Every one of us should have a certain financial goal to reach. These numbers will be very interesting for all of us. Thanks for sharing.

Sounds low to me, at least from my experience with clients. What would really be interesting is to see the amount of lifetime interest paid vs debt by age groups.

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Your comment could not be posted. Error type:
Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.


Post a comment

Your Information

(Name is required. Email address will not be displayed with the comment.)

Start a Blog


  • Any information shared on Free Money Finance does not constitute financial advice. The Website is intended to provide general information only and does not attempt to give you advice that relates to your specific circumstances. You are advised to discuss your specific requirements with an independent financial adviser. Per FTC guidelines, this website may be compensated by companies mentioned through advertising, affiliate programs or otherwise. All posts are © 2005-2012, Free Money Finance.