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August 2018 Archives

More older Americans are filing for bankruptcy

A recent study found people aged 65 and older are filing for bankruptcy at three times the rate as they were in 1991. The New York Times states of the people from ages 65 to 74, 3.6 out of 1000 file for bankruptcy. The study suggests this increase is due to changes like moving from pensions to 401(k)s, more spending on health care and having to wait for full Social Security benefits.

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