Consumer credit counseling may help while retirement outlooks get better

By Peggy Stillwell on Jul 20th, 2010

Not saving money - or being too burdened by debt - could make it that much more difficult for people to retire comfortably.

However, people have managed to improve their situations over time, according to a recent report from the Employee Benefit Research Institute. The organization has been analyzing retirement trends through a modeled system since 2003.

At that time, older Baby Boomers saw 59.2 percent of their population "at risk" for not being able to handle retirement. That includes not having the cash to cover basic expenses and health concerns not taken care of by insurance.

However, that number has dipped to 47.2 percent, perhaps because more people have put more toward their 401(k) plans or other savings vehicles. Younger Baby Boomers improved from 54.7 to 43.7 percent, while those in Generation X saw a decline from 57.4 to 44.5 percent.

People who are having problems with saving for retirement may consider visiting a consumer credit counseling agency, which can help establish a budget and eliminate unnecessary spending.

More Consumer Credit Counseling News

10-04-2010

Higher One debit cards becoming common on college campuses

09-22-2010

Cash-out refinancing growing in popularity, report finds

09-15-2010

Arizona tops list of most student loan defaults

09-11-2010

Borrowers advised to take on student loans wisely to avoid debt

09-09-2010

SUNY complies with Cuomo's code of conduct

09-08-2010

CARD Act only benefiting educated consumers

09-03-2010

Banks helping more homeowners repay loan debt than HAMP

09-02-2010

Auto loan delinquency rate falls in Florida

08-03-2010

Consumer credit counseling can help people feeling overwhelmed by debt

08-01-2010

NFL players getting form of consumer credit counseling

Related Resources