Thursday, March 31, 2016
This article discusses the recent trend of rising debt balances among older Americans. It examines a blog published on February 24, 2016, by the Federal Reserve Bank of New York titled ‘The Graying of American Debt.’ These changing trends are going to have a major impact on the future economy. The data is broken into different categories and presented in detailed charts. According to this article these changes could present problems for future GDP growth. Policy makers will need to look ahead when crafting policies to address these changes. It is also important for individuals to tackle their own personal debts and come up with a practical estate plan. The composition of debts across America are changing significantly and could present major problems in the future.
See What Does The Graying of American Debt Mean For You?, Seeking Alpha, March 31, 2016.
Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.