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Article: 'I Owe, I Owe, It's Off to Retirement I Go.'; Allstate Financial Survey Reveals Baby Boomers to Spend Their Golden Years In The Red.
- Article from:
- PR Newswire
- Article date:
- January 10, 2002
CopyrightCOPYRIGHT 2002 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NORTHBROOK, Ill. -- Baby Boomers who envision a retirement of leisure may want to check their balance statements. According to the Allstate Financial "Retirement Reality Check" survey, more than half of surveyed Baby Boomers will spend their golden years paying off debt.
According to the survey, 58 percent of Baby Boomers will spend their retirement paying off some combination of the following:
-- 37 percent will be paying off car loans
-- 27 percent will owe on a home mortgage
-- 25 percent will carry credit card debt
The survey revealed that debt won't curtail spending, as 56 percent of surveyed Baby Boomers plan to purchase a ...