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A recent survey by American Financing called "Retirement
and Mortgages" says that 44% of Americans between the
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ages of 60 and 70 still have a mortgage when they retired or
do retire.

The study goes on to say that “The number of households
age 65 and over with housing cost burdens continues to climb.

In 2016, 9.7 million households in this age group - nearly a third
- spent more than 30 percent of their incomes for housing.”

Almost 5 million of those households were spending at
least half of their household incomes for housing, including

approximately 3.4 million households aged 65-79 and 1.5

million households over the age of 80.

Source: Joint Center for Housing Studies, Harvard University,

2018 Put chart #132 - Retirees and Mortgages here. It's in our
shared Dropbox folder.
If your cash flow falls short in the first few years of retirement,

you may have to draw more than you planned from your
retirement nest egg. This can cause a snowball effect of

lower income and reduced value of your retirement savings.
Some options to reduce debt in retirement or as retirement

approaches include:

► Delaying retirement until debts are paid.

► Taking less income until debt is paid off.

► Focusing on ways to quickly eliminate debt before it
becomes an overwhelming burden that hampers your

lifestyle or financial standing.

Chapter 5: Things That Can Wreck Your Retirement