From Yahoo Finance: 2025-05-03 05:55:00

A study by Allianz Life revealed that 64% of Americans fear going broke more than death. Factors like high inflation, Social Security concerns, and rising taxes are driving this fear. Gen X (70%) and millennials (66%) are most worried. The average American believes $1.26 million is needed to retire comfortably.

Many Americans fall short of retirement savings goals. Inflation has eroded savings, and Social Security faces possible benefit cuts by 2035. It’s crucial to start saving now and take advantage of compounding interest. Boost retirement contributions and prepare emotionally for retirement to ensure a comfortable future.



Read more at Yahoo Finance: Americans fear going broke more than death amid high inflation and shrinking Social Security support