According to a CBS News report, one in five retirees say they are struggling financially. That has obviously spurred a variety of financial fears.
The investment firm Schroders surveyed seniors and found that retirees’ five biggest financial fears are:
- Inflation eroding the value of retirement savings and other assets (90 percent)
- Higher than expected health care costs (87 percent)
- A major market downturn significantly reducing assets (81 percent)
- Not knowing how to best take retirement income and/or draw down assets (69 percent)
- Outliving retirement savings (68 percent)
Council of Seniors is Here to Help Older Americans
Older Americans worked long and hard and deserve to live a comfortable retirement free from financial strain.
All of us here at the Council of Seniors want to improve retirees’ financial futures – and that starts with Congress enacting The SAVE Benefits Act. The passage of this bill can make up for Social Security cost-of-living adjustments (COLAs) that have let you down in recent years. If it passes, $581 will be returned to eligible seniors.
Sign our petition right now to show you’re on board with our effort.