71% of retirement age investors worry rising inflation will negatively affect their savings, survey

By: Lorie Konish

Federal Reserve officials are worried that inflation could last longer than they had anticipated, according to minutes from a recent meeting released this week.

Now, a survey from Global Atlantic Financial Group shows that retirement age investors ages 59 to 75 are concerned inflation could wreak havoc on their investments.

More than 7 out of 10 investors — 71% — said they believe rising inflation will negatively affect their retirement savings.

Moreover, 46% of investors said they believe rising inflation and low interest rates will make it more difficult to have steady income in retirement. Of those invested in fixed income, 46% said they are concerned about low interest rates affecting their retirement income.