Sheraton Uptown, Albuquerque, NM, USA
Sunday, April 23 • 8:00am - 9:30am
C2C-Is Debt Good or Bad for a Comfortable Retirement? Exploring the Relationship between Consumer Debt and Retirement Preparedness

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We use data from a nationally-representative sample to explore the relationship between people’s consumer debt patterns and their retirement savings and planning behavior. Specifically, we examine the impact of having secured and non-secured debt on a novel retirement-preparedness index as well as self-assessed retirement preparedness. Our findings suggest that people with non-secured debt save and plan less for retirement, and also report feeling less financially-prepared for retirement. Having secured debt, on the other hand, correlates positively with retirement savings and planning behavior. We discuss plausible explanations for these and other relationships for different segments of the population. We also discuss limitations of this research and highlight the importance of considering consumer debt within the overall scheme of financial wellbeing and retirement security.

Speakers & Presenters

Laith Alattar

Social Science Research Analyst, Social Security Administration

David Rogofsky

Social Security Administration

Sunday April 23, 2017 8:00am - 9:30am

Attendees (2)