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May 21, 2026 / 5:00 AM EDT
/ CBS News
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Inflation, rising health care costs and fears of outliving savings are fueling new financial anxieties among retirees, with one in five saying they are struggling financially, according to new research.The rising cost of living is retirees' top concern, with about 90% saying they worry inflation will erode the value of their assets, according to a survey of about 400 retirees by investment firm Schroders.The concern reflects a broader fear among many retirees: running out of money. Earlier this year, Allianz found that 67% of the investors it surveyed said they were more worried about outliving their savings than about dying, Kelly LaVigne, vice president of consumer insights at Allianz Life, told CBS News.The findings reflect the financial turbulence many retirees have faced since the pandemic, with inflation remaining above the Federal Reserve's 2% target and market swings causing retirement balances to fluctuate. One in five retirees surveyed by Schroders said they are struggling financially."Think about taking your retirement money for 30 years — even at a 3% inflation rate, which is relatively conservative, the cost of living is going to double in 24 years," LaVigne said. "What might have been a pretty good income when you first started out, 30 years later, you're not doing so great."Here are retirees' top 5 financial concerns and the share of retirees who expressed them, according to Schroders:Inflation eroding the value of retirement savings and other assets (90%) Higher than expected health care costs (87%) A major market downturn significantly reducing assets (81%) Not knowing how to best take retirement income and/or draw down assets (69%) Outliving retirement savings (68%)No second chancesInflation tops retirees' concerns as soaring energy costs add to persistent affordability pressures. The Consumer Price Index rose 3.8% in April from a year earlier, the fastest pace in nearly three years.
