The number of senior citizens filing for bankruptcy is going up, according to the Consumer Bankruptcy Project.

And it's not just because the senior population is growing- researchers found that the rate of Americans over 75 filling for bankruptcy tripled from 1991 to 20-16.

The most common factor was medical expenses.

But researchers also point to the change from pensions to 401k's as another cause.

AARP's Reggie Nance joins us to explain more.