Americans today are more likely to reach retirement in debt than ever before.
That's the takeaway from a new study that appeared last month in the American Economic Association Papers and Proceedings.
The researchers compared debt levels among different generations when they were between the ages of 56 and 61 to learn how the financial standing of people bracing to exit the workforce has changed over time, and how much the Great Recession is to blame.
(The average American retires in his or her early 60s).
Researchers found that more than 70 percent of people who fell in that age range in 2010 were in debt, up from 64 percent in 1992.