Lester, AnneSantiago, KatherineOh, JeWu, LiviaChegaeva, Ekaterina2023-05-232023-05-232019-05-022019-09-24https://repository.upenn.edu/handle/20.500.14332/43917This research uses a unique data set to answer some fundamental questions that have not previously been fully addressed. Specifically, it provides a summary of the debt service patterns of United States consumers that is derived from de-identified Chase data. The primary purpose is to get a sense of real-world debt service trends through different life stages and, therefore, more realistically save for and live in retirement. To accomplish this, we will provide insights related to important questions that underlie retirement planning assumptions. What is the average level of debt service at various life points? What is the average composition of payments across different debt types? How much do households typically pay, on average, for the specific types of debt they support? Are there specific life-cycle patterns that occur for different types of debt service? Do wealthier households manage debt service differently from households with lower asset levels? This study explores these questions and outlines high-level implications for retirement planning.All findings, interpretations, and conclusions of this paper represent the views of the author(s) and not those of the Wharton School or the Pension Research Council. © 2019 Pension Research Council of the Wharton School of the University of Pennsylvania. All rights reserved.age rangeasset levelauto loanaverage annual debt servicedebt life cycledebt service patternshome equity loans/lines of creditincome replacementmortgageretirement planningrevolving credit cardspending transaction datastudent loanEconomicsWorking Paper