How People with Pandemic-Induced Financial Fatigue Can Get Back on Track
People are worn out. They are trying to make it through the stress of the pandemic, a continually volatile market and record inflation. And, for many who are years from retirement, they have decades of work ahead of them.
These younger Americans are in the middle of their working years – those critical saving-for-retirement years. It’s not easy to keep those retirement goals in mind when current finances feel uncertain.
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The new 2022 Retirement Risk Readiness study* from Allianz Life found that people who have yet to retire are much more concerned about their financial futures than retirees – particularly after two years of uncertainty with the pandemic.
The big point: People further from retirement feel financially at risk.
The majority of younger Americans (particularly those more than 10 years from retirement) are more afraid of running out of money than death. In the study, 63% of non-retirees said they fear running out of money more than death. Meanwhile, just 46% of retirees had the same fear. All people are saving and investing
