Retirees Face Decline in Financial Wealth Due to Inflation

WSJ Your Money Briefing

The Wall Street Journal

News, Business News

3.8 • 1.6K Ratings

🗓️ 16 May 2024

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

Inflation over the past two years has caused retirees as well as Americans several years away from retiring to take bigger withdrawals from their savings. Wall Street Journal reporter Anne Tergesen joins host J.R. Whalen to discuss a new study that focused on how inflation has harmed older households. Sign up for the WSJ's free Markets A.M. newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This Podcast is brought to you by Alex Partners, new and accelerating disruptions from new technologies to geopolitical conflict to a warming planet are buffening business daily.
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0:19.4	Alex Partners.com.
0:21.6	Here's your money briefing for Thursday, May 16th. I'm J.R. Whelan for the Wall Street Journal.
0:32.0	Inflation ticked down to 3.4% last month and while that's significantly lower
0:37.0	than where it was in 2022 and much of 2023 prices are still rising. A new study looks at how that's causing many Americans to draw
0:46.1	down their savings.
0:47.1	The study looked at also the impact of inflation on the financial wealth of people who are both in retirement and near retirement and
0:55.9	their forecasting declines in wealth, which is really problematic for people who are
1:01.1	either in retirement or on the cusp of retirement and need to rely on their
1:05.3	financial wealth for years to come.
1:08.2	Wall Street Journal reporter Ann Turgison will join us.
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