54% of Consumers Have Cut Retirement Savings Due to Inflation: Allianz Life
October 31, 2022 by Michael S. Fischer
Inflation in the U.S. is taking a toll on consumers and retirement savers, according to Allianz Life’s third-quarter market perceptions study.
Fifty-four percent of study participants reported that they have stopped or reduced retirement savings because of inflation, and 43% said rising costs have forced them to dip into their retirement savings.
Click HERE to read the full story via ThinkAdvisor
Wink’s note: Allianz Life just released its third quarter market perceptions study.
Some fascinating facts in this one!
“Three-quarters of those surveyed said a guaranteed lifetime income option, such as an annuity, as part of their retirement strategy would ease concerns about inflation.”
Further-
“71% of participants [are] saying they are keeping some money out of the market to protect it from loss, a number that has been steadily increasing over the past year.”
And “more respondents say they are ready to invest.”
That sounds like an opportunity to me! -sjm
