Baby boomers' financial burdens stem from rising healthcare costs, supporting adult children, and carrying high debt loads, making sustainable financial management increasingly challenging.
Many baby boomers found themselves in debt due to rising healthcare expenses and the obligation to assist their grown children, complicating their financial futures.
To navigate through high debt, baby boomers should consider consolidating loans and seeking financial advisor help to stabilize their retirement plans.
As boomers transition into retirement, managing an average debt of $94,880 poses significant challenges, particularly with fixed income limitations impacting their financial flexibility.
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