American households nearing retirement or newly retired carry higher debt than past generations, particularly credit card debt, affecting retirement preparedness.
Financial wellbeing programs from employers can aid working-age adults in managing debt to secure retirement and improve overall financial stability.
Non-white family heads have more debt, especially credit card debt relative to assets, underlining the importance of debt management for retirement readiness.
#retirement-readiness #debt-management #financial-wellbeing-programs #retirement-savings #credit-card-debt
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