Over 50 - overly optimistic?

• 60% — Percentage of adults over 50 who have at least one form of debt; 29 percent have a credit card balance that is not paid in full every month, the same percentage that have a vehicle loan.
• 45% — Percentage of adults over 50 who have not tried to reduce their debt in the last six months.
• 40% — Percentage of adults over 50 who owe about 75 percent or more than their monthly income; 56 percent owe up to half of their income.
• 89% — Percentage of adults over 50 who have never filed for bankruptcy or thought of doing so.
• 71% — Percentage of adults over 50 who have cut back on spending to reduce debt; 69 percent have stopped using credit cards, and 56 percent pay more than the minimum balance on their credit card.

Source: AARP