Bidenomics strikes again: Quarter of Americans will delay retirement because of inflation

Millions of Americans say they likely will have to push back their retirement because of rising inflation, newly released financial survey data found.

The BMO Real Financial Progress Index, a quarterly survey from BMO and Ipsos, showed that a quarter of Americans will likely need to delay their retirement because of higher prices.

“Nearly 60% of those surveyed said that inflation has adversely affected their personal finances, of which about one in four said that they have felt a major impact,” the group said. “As a result of inflation, 36% of Americans have reduced their savings and 21% have reduced their retirement savings. A quarter of Americans will need to delay their retirement. Younger Americans are feeling the most impact – over 60% of those aged 18-34 said they had to reduce contributions to their savings.”