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Inflation and Retirement Plans: Yes, There’s a Close Relationship
Postponing retirement has become a norm for about a quarter of Americans planning to transition from careers to a post-career life, according to the results of polls for the BMO Real Financial Progress Index published last week. Even more to the point, the raging inflation rate has dampened savings plans, with “…36% of Americans hav(ing) reduced their savings and 21% hav(ing) reduced their retirement savings.) The National Interests’ Science and Tech Editor Ethen Kim Lieser examines the findings from the latest BMO Index in a post on nationalinterest.org, which you can access here… Oddly enough, even with the severity of current inflation and the ravaging of retirement savings strategies, the BMO Index reveals “… a slight increase in confidence levels,” and attributes it to the effects of Americans taking a closer look at their personal finances in the wake of rapidly increasing costs (perhaps, in effect, increasing their personal accountability for their retirement years.)