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January 10, 2002 at 07:00 PM
NU Online News Service, Jan. 10, 9:19 a.m. – Many baby boomers say they will spend their retirement years paying off debt.
Researchers for Harris Interactive, Rochester, N.Y., recently surveyed 1,004 U.S. adults born between 1946 and 1961 for Allstate Financial Group, Northbrook, Ill.
The boomers surveyed, who had household incomes ranging from $35,000 to $100,000, told researchers they expect to carry high levels of debt in their later years.
Fifty-eight percent of the survey participants told researchers they expect to be paying off car loans, home mortgages or credit card debt.
