Senior Spotlight: Inflation Impact On Retirement
AAG’s Modern Retirement Survey concludes that inflation is a major cause of concern for seniors.
Life is a balance, and while many seniors are feeling positive about home equity, they are also feeling discouraged about inflation and the rising cost of living. The just released Modern Retirement Survey conducted by the American Advisors Group (AAG) has revealed that among the 1,500 participants surveyed (ages 60-75), 2/3 are worried that economic inflation will have a negative impact on their retirement.
Other findings include:
- Widowed & divorced senior women expressed the highest rate of concern at 72%.
- 53% of seniors replied that the cost of living during retirement is higher than they expected.
- 37% of Americans feel they need to increase their cash flow to live comfortably.
- Senior housing wealth has reached a historic high of $9.57 trillion according to the National Reverse Mortgage Lenders Association.
In striving to present education and information without fear, we hope this news provides some food for thought as to how real estate wealth may be able to be part of a comfortable retirement strategy. We encourage anyone who is concerned about retirement cash flow or who just wants to know their options to consult with their financial advisor, tax professional and estate attorney.
Some possible ways to mitigate inflation with accrued equity may be: a reverse mortgage, a home equity loan, a purchase of an investment property, selling & downsizing or any combination of wise investment decisions. Let us know if you need a referral to a trusted professional or contact us for a complimentary home valuation!
To read the full results of AAG's Modern Retirement Survey, visit: https://www.aag.com/retirement-survey-2022
All my best,
Bobbi Decker
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Broker Associate
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www.bobbidecker.com
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