Baby Boomers may be the richest generation in American history, but that doesn’t mean they have the money when the bills are due.
Many of them enter retirement still carrying credit card balances and other debts, turning what looks like a strong balance sheet into a tighter monthly budget. The problem gets exacerbated as Boomers retire: their paychecks disappear, and they become reliant on Social Security and pensions to cover both everyday living expenses and debt payments.
