Pre-retirees still anxious despite bull run
The S&P 500 is up more than 23 percent over the past year. Inflation is on its way down. And the benchmark 10-Year Treasury yield is over 4 percent, a more than reasonable rate for savers. Put it all together and even goldilocks couldn’t complain about such a benevolent economic environment.
So why are pre-retirees over 50 still so anxious about their financial futures?
According to an F&G Annuities & Life survey released yesterday, 68 percent of pre-retirees are considering pushing back their retirement, up from 64 percent last year, despite all the positive market tailwinds. The study showed Generation X appears especially concerned as 71 percent of those respondents are considering or have pushed back their planned retirement date, up from 65% last year.
Digging deeper into the results, almost half (49 percent) of pre-retirees over 50 that are either considering or have pushed their retirement back are doing so because of inflation worries. And 44 percent of retirees and those who have considered rejoining the workforce cite inflation as a reason, the survey said.
The survey polled over 2,000 Americans over age 50.
“This remains a challenging macroeconomic environment to navigate for those close to or in retirement,” said Chris Blunt, CEO of F&G in a statement. “As our survey shows, Americans are still reconsidering what retirement means to them, and that may look different from previous generations. We believe taking a proactive approach in financial planning can help mitigate some of the economic risks, allowing people to focus on their own personalized roadmap of how and when to retire.”
Will Hackler, director of retirement plans at Integrated Partners, points out that the growth of the market helps to varying
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