The four-decade high inflation is hitting Americans in every aspect of their life, from ballooning food and gas prices to an extremely pricey housing market. And now, a report finds that only half of.
Being debt-free means less stress, better cognitive function, fewer illness, and improved relationships. All of which become more important in retirement.
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The surging COVID-19 is no doubt disrupting the lifestyles of many Americans, including those already in retirement.
A new survey revealed stunning new findings about how seniors are being thumped by the pandemic. Consider about one in five retirees has engaged in a part-time job, including 9% forced into those roles due to the crisis. Some 60% say they struggle to pay for basic needs, including medical bills (47%), groceries (43%), and credit card bills (37%). One in four fear they will outlive their savings.
Those are among the discoveries in State of Retirement Finances: 2021. The research was done by Clever, a real estate education platform for home buyers, sellers and investors. All told, 1,500 Americans were quizzed in October and November 2020, on their retirement funds, debt and financial worries. Ten percent of the respondents were African Americans.