The latest report on how many Americans die broke comes from an analysis by the Employee Benefits Research Institute based on data from the University of Michigan’s Health and Retirement Study, cnbc.com reports.
Roughly 1 in 5 Americans 85 and older who died between 2010 and 2012, had no assets other than a house, according to the analysis. The average home equity was about $140,000. Roughly 1 in 8 of those households had no assets at all.
And those who died single at 85 or older fared even worse – roughly a quarter had only some equity in a house—about $83,000 on average. One in 6 had nothing, and 1 in 10 died with an average debt of about $6,000.
For those who died at a younger age, the numbers were even worse. Some 30 percent of households losing a family member between ages 50 and 64 had no financial assets left. Those households also had lower incomes than older retirees.
Read more HERE.
