The majority of Americans aged 45 to 75 are concerned that soaring levels of inflation may reduce their spending power when it comes to retirement, according to a new survey.
The Protected Retirement Income and Planning Study by CANNEX and the Alliance for Lifetime Income was published on July 11 and conducted among 2,025 American consumers aged 45 to 75, and 514 financial professionals, between April and May 2022.
Financial professionals that were surveyed conduct retirement planning for individual clients.
Specifically, the survey found that 81 percent of Americans aged between 45 to 75 said they were worried that high inflation would reduce their spending power in retirement, while 79 percent fear that an economic recession could impact on their retirement income….