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Inflation Is Weighing Heavily on Retirees

Person with gray hair and a beard looking at paperwork
More than 90% of retired Americans surveyed by Schroders said they are worried that inflation is lessening their assets' value.

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Key Takeaways

  • A recent survey from Schroders disclosed that more than 90% of retired Americans are worried that inflation is lessening the value of their assets, and more than 80% said they wish they could better protect their savings from the effects of inflation.
  • A quarter of retirees surveyed said they have lost sleep worrying about their financial situation.
  • Over a third of retired Americans said they have concerns about their financial stress affecting their overall health.

Retired Ameriꦯcans are concerned about how much inflation will affect their ability to save for the fu🍷ture.

More than 90% of retired Americans surveyed for investment manager Schroders said they are worried that inflation is lessening the value of their assets. Greater than 80% said they wish they could better protect their savings from the effects of inflation.

Other top concerns plaguing retired Americans this year include outliving assets and facing 澳洲幸运5开奖号码历史查询:higher-than-e💫xpected health-care co🐠sts. The report—based on interviews from late March to mid-April and released earlier this month—showed that retirees said they are spending an average 15% of their total monthly income on 澳洲幸运5开奖号码历史查询:insurance premiums, prescr🍸iption costs, out-of-pocket expens♌es, and other health-related costs.

“Rising prices on essentials like housing, food, and health care have significantly diminished the purchasing power and 澳洲幸运5开奖号码历史查询:financial security of retirees,” said Schroders' Head of U.S. Defined Contribution, Deb Boyden, in a prepared statement about the report.

Uncertainty About Finances 'Plaguing So Many Retirees'

“The uncertainty that’s currently plaguing so many retirees is a poignant reminder of the value of proper planning, products and personalized advice for a 澳洲幸运5开奖号码历史查询:comfortable retirement,” Boyden said.

One in four retirees surveyed said they have lost sleep worrying about their financial ♕situation and more than a third said they are conc🧸erned their financial stress will have an impact on their overall health, according to the report.

However, nearly half of American retirees in the study said they don’t have a plan in place to estimate their expenses, determine how much income is needed, or 澳洲幸运5开奖号码历史查询:develop an investment strategy to achieve their goals.

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