Most Americans gladly traded a few $800 payments in exchange for losing well over 20% of their purchasing power on all the money they have and will have for the rest of their lives.
According to a recent research released this week, there was a significant decline in the percentage of Americans who believe they will be financially prepared for a comfortable retirement.
Credit : BlackRock
According to BlackRock’s findings, the percentage of people feeling on track for retirement has decreased from 68% in 2021 to 63% in 2022 and further to 56%. Gen Z experienced the largest decline in confidence and expressed a higher likelihood of selling investments during market downturns compared to baby boomers.
Anne Ackerley, head of BlackRock’s retirement group, noted that this decline in confidence is driven by market volatility and inflation, which have raised concerns about financial security both in the present and in the future. She shared these insights with Yahoo Finance Live.
