How Inflation Hurts Retirees

Retiree confidence in the ability to live comfortably during retirement has plummeted. The main culprit? Inflation.

A female retiree sits at a computer.
(Image credit: Getty Images)

Retiree confidence in having enough money to live comfortably throughout retirement dropped significantly in the 2023 Retirement Confidence Survey, conducted by the Employee Benefit Research Institute and Greenwald Research. The survey recorded its biggest decline since the global financial crisis of 2008. 

Craig Copeland, director of wealth benefits research for EBRI, explains.

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Janet Bodnar
Contributor

Janet Bodnar is editor-at-large of Kiplinger's Personal Finance, a position she assumed after retiring as editor of the magazine after eight years at the helm. She is a nationally recognized expert on the subjects of women and money, children's and family finances, and financial literacy. She is the author of two books, Money Smart Women and Raising Money Smart Kids. As editor-at-large, she writes two popular columns for Kiplinger, "Money Smart Women" and "Living in Retirement." Bodnar is a graduate of St. Bonaventure University and is a member of its Board of Trustees. She received her master's degree from Columbia University, where she was also a Knight-Bagehot Fellow in Business and Economics Journalism.