[Brief] U.S. Retirees Spent Their Lives Saving but Are Now Afraid to Spend Amid Inflation and Market Volatility
USA Today reported on September 13 that a large number of U.S. retirees who spent their lives saving are now deeply anxious about spending and retirement planning amid persistent inflation, rising healthcare and long-term-care costs and financial-market volatility. Multiple surveys show that more than half of U.S. retirees are cutting discretionary spending, delaying medical decisions or considering returning to part-time work. Financial advisers point out that the traditional ‘4 percent withdrawal rule’ can no longer support basic living costs in the current interest-rate and inflation environment, and retirement planning is undergoing a structural reassessment.