Survey: 25% of Americans expect to die in debt

More good news: Americans are starting to get down with that. Most workers polled by Transamerica said they expect to live to age 90. According to a Bankrate survey, 25% of boomers have no cash.

 · That group includes 41 percent who don’t know when they’ll pay off what they owe and 25 percent who expect to carry their debt to the grave. These numbers have fallen slightly since last year, when 68 percent of U.S. adults had no idea when or if they’d get out of debt , including 30 percent who predicted they would die in debt.

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And as far as many Americans are concerned, you might just leave some debt behind as well. A new study from found that more than 25% of baby boomers and almost 30% of Gen Xers expect to die without paying off everything they owe, according to .

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According to a survey conducted in 2007, over 70 million Americans were in debt due to medical expenses. A 2014 survey found that 20% of U.S. citizens with credit reports had medical debt, amounting to around 42.9 million people. Of those, about 60% had medical insurance. Another two million reported bankruptcy, with over 800,000 cases per year.

The problem has gotten so bad, in fact, that 65% of Americans in debt have no idea when they’ll shed it. Worse yet, 25% of those in debt expect to carry it with them to the grave, according to Now, not all of that debt is the bad kind in nature.

 · Any kind of debt is a threat to your future’ Yahoo Finance previously reported how 25% of Americans surveyed in December 2018 expect to die in debt. Additionally, 41% of people don’t know when they’ll pay off what they owe, and 65% of adults with debt don’t know when or if they’ll get out of it.

The survey found that 17 percent of all Americans who are 65 or older believe they will never get out of debt. When we tighten the focus to people that age who now are paying off loans, the pessimism is far more profound: 31 percent – nearly one in three – believe they will die as debtors.