Aging and Debt - Bag Lady Fears with Dr. Lee Anne Davies
One of the hottest topics this year is the increase in debt owed by seniors. This is the podcast that started the discussion. In September, 2014 Dr. Lee Anne Davies, co-author of When Life Bites You in the Wallet, joined me to discuss the financial challenges faced by seniors.
A few months after this show was first broadcast we released our updated Joe Debtor study, and it was the Senior Debtor that generated the most media attention. We discovered that senior debtors have the most total debt, and they also owe the most debt to credit cards, taxes, and even payday loans, a subject I address in an updated introduction and summary to this podcast.
Here are some examples of recent media appearances where we have discussed the plight of the senior debtor:
- Growing number of seniors account for Ontario insolvency filings from The Globe & Mail
- More seniors, swamped by credit card debt, file for insolvency from The Toronto Star
- Seniors going bankrupt at a record pace - an interview on The National on CBC Television
- Study: Growing number of Ontario seniors hit debt wall - an interview on BNN Television
- Debt Growing among seniors - Ted Michalos interviewed on CTV News Channel
Resources Mentioned in the Show
- The Average Senior Debtor
- Seniors At Risk By Carrying More Debt
- Survey of Financial Security: Stats Canada
- Implications of Co-signing A Loan