Americans Reducing Retirement Savings and Taking on Debt Due to Inflation
The majority of Americans say that the rising cost of living has caused them to reduce their savings.
- The majority of Americans say that the rising cost of living has caused them to reduce their savings.
- Nearly seven in 10 (69%) say they have not been able to contribute to their savings as much due to ongoing inflation.
- The majority of Americans (51%) say they have taken on more debt because of inflation.
- More than two in five Americans (42%) say they have dipped into their retirement savings because of inflation.