Middle-Class Retirement Confidence Drops to 32% as Inflation, Social Security Cuts Raise Concerns
A CNO Financial Group survey of 500 Americans aged 50–85 with $50k–$100k incomes found 32% feel less confident about retirement compared to last year, driven by inflation, fears of outliving savings and possible Social Security cuts. Financial advisors recommend diversification, catch-up contributions and delaying Social Security to bolster readiness.
1. Survey Highlights
A survey of 500 middle-class Americans aged 50 to 85 with household incomes between $50,000 and $100,000 and under $1 million in investable assets found that 32% feel less confident about their retirement plans than a year ago.
2. Main Retirement Concerns
Respondents identified inflation, fear of outliving savings and potential future cuts to Social Security as their top three concerns affecting their long-term financial outlook.
3. Mitigation Strategies
CNO recommends diversifying across asset classes, maximizing catch-up contributions for retirement accounts and delaying Social Security benefits to strengthen retirement savings and guard against economic uncertainties.