Inflation Has Been a Financial Shock for Retirees. Here’s How to Ensure It Won’t Wreck Your Retirement.

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Since mid-2021, consumers of all ages have been buckling under the weight of inflation. But it’s fair to say that inflation has been a particular problem for retirees, many of whom live on a fixed income that consists largely of Social Security.

In a recent Edward Jones survey, 63% of respondents cited inflation as the most significant financial shock they’ve experienced in retirement. And if you want to set yourself up to better cope with inflation as a retiree, then there’s one important step you need to take.

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A big reason retirees tend to struggle during periods of inflation is that Social Security has long done a poor job of helping seniors maintain buying power. Quite the contrary — recent data from the Senior Citizens League reveals that Social Security recipients have lost a good 36% of their buying power since the year 2000 even when accounting for this

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