Almost 90 per cent of Australians aged 50 and over believe they will still be paying off a mortgage when they retire, as AMP research finds that older Australians are preparing to head into retirement with higher debt.  

One in three Australians over 50 are also not confident that their nest egg will provide for an adequate lifestyle, and over half are prepared to change their lifestyle to save money in retirement.  

One in nine expect to have more than $250,000 in unpaid debt when they retire. 

More than two in five said they would opt to sell and downsize to reduce their debt, displaying concerns about not being able to afford a comfortable lifestyle in retirement.