According to a recent survey by the Bipartisan Policy Center, more than half of Americans lack confidence in their ability to retire when they want to and sustain a comfortable life. More concerning, those aged 45-54 feel the least prepared to retire.
Although three-quarters (76%) of Americans believe that saving for retirement is important, just 39% of respondents have a plan that will allow them to retire at their desired age.
While many Americans worry about outliving their retirement savings, some believe higher interest rates could help them avoid depleting their nest eggs by allowing them to live entirely off the interest generated by their investment portfolios.
Although the latest data shows inflation appears to be under control, the monetary and economic shocks of recent years have left many weary, and many are still licking their wounds from the cost of living crisis that followed the pandemic.
Looking to the future, many are understandably stressed about post-work life. The …