Friday, June 24, 2022
Survey: 25% of Americans are delaying retirement due to inflation
The market is currently experiencing one of the largest downturns in recent history, which is not only impacting how people spend money now, but is impacting future plans for retirement.
A quarterly survey conducted by BMO Real Financial Progress Index reports that 25% of Americans reporting plans to delay retirement due to inflation, and 60% of those between 18-34 have pulled back on savings contributions due to rising costs.
Overall, 21% of Americans are putting away less for retirement and 36% have reported reducing their savings as well.
For more information:
See Dan Grossman, “Survey: 25% of Americans are delaying retirement due to inflation,” KGUN 9 Tucson June 22, 2022.