Key Takeaways Nearly 6 in 10 retirees carry debt, with a median balance of $32,050, according to Federal Reserve data. Credit cards are the most common type of debt in retirement, while mortgages tend to carry the largest balances With income often fixed, cutting expenses may help retirees manage debt, while some may turn to part-time work to bring in extra cash. Nearly 6 in 10 Retirees Still Have Debt Retirement doesn’t mean the bills disappear. In fact, nearly 6 in 10 retirees carry some kind o ...