What You Need to Know
- Seven in 10 retirement-age investors believe that rising inflation will adversely affect their retirement savings.
- Forty-six percent of respondents with fixed income investments are concerned that low interest rates will imperil their retirement income.
- Over 56% of respondents worry about the effect of a COVID-19 resurgence on their retirement savings.
Seven in 10 retirement-age investors believe that rising inflation will negatively affect their retirement savings, according to a survey released Friday by Global Atlantic Financial Group.
Forty-six percent of participants who have fixed income investments are concerned that low interest rates will imperil their retirement income, and a similar percentage worry that current low rates coupled with rising inflation will make it harder to create a sustainable retirement income stream.
Artemis Strategy Group fielded the online survey in August among 1,013 investors 59 to 75 years old with more than $250,000 in investable assets.
What Your Peers Are Reading
Sixty-four percent of respondents said they are more open to financial advice than they were before the pandemic. Fifty-one percent of those who avail themselves of financial advice reported that they had spoken with their advisor about low interest rates.