Many Americans who began saving for retirement when they joined the workforce likely had an idealized picture in mind of what retirement would be like when they got there. This includes what their lifestyle might look like, whether that meant moving closer to family, traveling or downsizing to a smaller home.
However, with inflation reaching 40-year highs, and recession fears continuing to increase, many are wondering if a ‘traditional’ retirement is still realistic. The answer to that is “yes” – but getting there requires foresight and planning. By taking a few steps to ensure their assets are protected from the effects of inflation and that they don’t outlive their money, people can make it more likely that they’ll be able to attain a fulfilling and enjoyable retirement. Read: ‘I don’t need the money anymore. If I like a project, I do it.’ Seniors find satisfaction in self-employment Market challenges According to a recent survey from F&G, 80% of Americans aged 50+ are worried about the impact of inflation on their retirement. This isn’t too shocking given historic inflation levels, but what stands out is that 61% of retirees are actually changing how they budget for everyday expenses such as food and healthcare. Financial pressures have made some Americans look at their retirement savings and realize that they may need to continue working part time to make ends meet once they retire. In fact, nearl …