Wednesday, February 27, 2013

Boomers' Credit-Card Profile Resembles Gen Y's

Sandy Harsh never expected to find herself with $16,800 in credit-card debt and her retirement dreams drifting farther away.

Harsh, an IT professional from Tuscola, Illinois, is 62, around the age at which a lot of people start actively planning to retire to a white-sandy beach with a frozen margarita in hand.

Harsh's debt snuck up on her as she helped her two daughters with college and living costs. She went back to school after a divorce and dealt with unexpected expenses such as big dental bills. Now she has about $300 a month in minimum payments, spread across three credit cards, and the balance never seems to go down because of all the interest she is paying.

READ MORE:  http://www.cnbc.com/id/100470176

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