The survey recorded its biggest decline since the global financial crisis of 2008. Craig Copeland, director of wealth benefits research for EBRI, explains.
Why the big drop? Inflation has had the biggest impact. Among retirees, 42% said the high cost of living contributed to their loss of confidence and 25% cited a lack of savings. And the two are related.
What's the connection? When things cost more, that leaves less for savings. Nearly 60% of retirees report that their retirement account balances decreased over the past 12 months, and two-thirds worry that the increasing cost of living will make it harder for them to save money. In addition, 58% are concerned they will have to make substantial cuts to their spending. The poor performance of the stock and bond markets also had an impact on retirement balances.
この記事は Kiplinger's Personal Finance の October 2023 版に掲載されています。
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この記事は Kiplinger's Personal Finance の October 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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