An alarming combination of insufficient savings, inflation, credit card debt, and earlier-than-expected retirement trends has put today’s seniors in a complex financial state that has lowered expectations of life after work, a new study by the Employee Benefit Research Institute (EBRI) shows.
According to the study, 31 percent of retirees said they have been spending much more or slightly more than they can afford in 2024, compared with 27 percent in 2022 and 17 percent in 2020.
