Inflation is a top retirement risk among retired and middle-age individuals, according to a survey by the Society of Actuaries. The impact of inflation on investments was listed as a top risk to retirement by 57% of retirees and 63% of people nearing retirement; affording adequate health carewas seen as a risk by 51% of retirees and 69% of those near retirement; and maintaining a reasonable standard of living, 48% and 55%, respectively.
With life expectancy reaching the highest level ever, there is a real possibility that those in retirement may outlive their assets, Steve Vernon, president of Rest of Life Communications, a firm that consults on retirement issues, said in an SOA statement about the 33-page Risks and Process of Retirement Survey Report.
For the survey, 801 people, ages 45 to 80, were interviewed. The Society of Actuaries is an educational and research professional organization with 19,000 members.