<prompt> Human: According to an article in the NYTimes bankruptcy numbers have gone up in people age 55 and over since 1991. During the same time period, they have gone down for people younger than 45 years.My personal take-away is that older people are more vulnerable: they have less options to earn an income, and they have more health problems . So ... get to a financial position that is as safe and stable as you can, as young as you can.  <response>: Im not surprised with average savings rate below 4 percent. Car loan default rate is actually higher than 2008. Idk, meanwhile people are still taking on long term car loans. 