PHOTO: Barb Wald, 66, plays pickleball in Sun City, Arizona, January 5, 2013. REUTERS/Lucy Nicholson
The result? It used to be that households headed by someone over the age of 50 began to deleverage that is, pay down their debt. Now, we're seeing an opposite phenomenon: those families instead go further into arrears, acquiring even more debits on the household budget sheet at ages previous generations associated with the early bird special.