But retirement finances have undergone a rapid evolution, accelerated by larger economic trends and the disruptions of the COVID-19 pandemic.
An unprecedented number of employees have quit their jobs since the beginning of the pandemic. They were retiring.
Many people were impacted by the economic downturn caused by the pandemic, but retirees were hit especially hard.
More than three-quarters of retirees (76%) still have debt.
Just over two-thirds of retirees (67%) enter retirement with some credit card debt.
A quarter of Americans over 50 are still paying student loans because the student borrower failed to do so, according to AARP.