Plugged in: Most Americans expect to die in debt

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This holiday season has been another grim reminder to many Americans that they’re just not made of money.

A new poll by CreditCards.com indicates one in five Americans believe they will be in debt for their entire lives.

The survey was conducted the first week of December and included 1,001 consumers.

It indicates that 18 percent of those in debt expect to die in debt. That number has doubled since another similar survey in May 2013.

The average age Americans expected to be out of debt is around 53. But about 11 percent of those surveyed believe they will be in debt until at least their 70s.

As far as paying off new debt, those polled were pretty optimistic. About 38 percent said they used credit cards to make purchases this holiday season, but believe they will pay those debts off quickly.

Also optimistic were millennials who were polled: only about six percent believed they will always have debt.

Read more here.

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