Five Reasons Boomers Are Getting Buried by Debt

February 20, 2013 | | Business Insider |

Despite millennials' lingering reputation as financial delinquents, it turns out not everyone drowning in credit card debt has a newly-printed college diploma and a stack of student loan bills.

recent article by Reuters' Chris Taylor reveals baby boomers are facing an even steeper road to financial freedom. 

Taylor highlights a Demos study that found low- and middle-income Americans over the age of 50 are carrying an average $8,278 in debt. By comparison, under-50 households owed about $2,000 less — an average of $6,256 in debt.