Bankruptcy Filings Up For Seniors

One of our biggest fears is real.

Contrary to the downtrend of the under 55 age group, older Americans are increasingly facing bankruptcy.

These are the alarming statistics of bankruptcy rates released by the Associated Press:

55 - 64 years old--up 40%

65 - 74 years old--up 125%

75 - 84 years old--up 433%

According to the article, many of these people have fallen victim to escalating medical expenses and age discrimination in the marketplace.  

Maybe I can help a wee bit.

Fight age and employment discrimination.

Be aware of benefits for which you may qualify.

Know that there are employment options. 

Determine your potential financial emergencies and how much you need to set aside to cover them.  

Let's work towards cleaning up this mess, not contributing towards it.