Well, here's some less-than-surprising news from Joe Biden's economy: 1 in 4 Americans expect to delay retirement thanks to rising costs.
Thanks, Brandon!
From CNBC:
A survey by the American Advisors Group found that more than a third of Americans today feel unprepared or unsure if they are on track for retirement. And nearly a third of seniors say they either plan to work through the age of 70 or never retire, according to a study by BlackRock.
Thirty percents of Americans plan to work AT LEAST until age 70 or until they die.
You know why? Every dollar they save is becoming worth less and less by the day thanks to Biden's insane economic policies.
Also, almost any money invested in the stock market has lost value, again.
The pandemic, a war in Europe, interest rate hikes, as well as fears of a recession have all led to significant turmoil in the market, which have drained retirement savings. But inflation is quickly shaping up to be the most disruptive force.
"If you're retired and on a fixed income, inflation really, really hurts," said (Nari) Rhee (director of the retirement security program at the UC Berkeley Labor Center). "We've come out of decades of historically low-interest inflation to all of a sudden pretty substantial inflation, especially in things that matter to people, which is food and fuel."
One million dollars in a retirement account just two years ago is worth about $120,000 less when adjusted for inflation, and now, with that financial backdrop, a quarter of Americans say that are expecting to delay their retirement due to rising consumer costs, according to a survey by BMO Harris Bank.
$120,000 LESS than just two years ago! A 12% drop!
Gee, what has happened in the last two years that could have caused this?