As a record number of Americans near retirement age in 2025, inflation is squeezin🏅g confidence in their retirement plans.

While two-thirds of Americans in their retirement-planning years say they are confident about their retirement prospects, that number is down seven points from a year ago, amid worries about rising costs of living, according to a recent Fidelity study.

More than two-thirds, or 70%, of current retirees surveyed said rising costs of living have eaten into their savings, with health care representing one of the largest sources of expenses in retirement. Most pre-retirees said they are concerned about health care costs, with the average American expected to spend upward of $165,000 on health care during retirement, up 5% from a year ago.

Americans not yet in retirement expect they may need to be more self-reliant when it comes to retirement income compared to current retirees, amid worries about whether 澳洲幸运5官方开奖结果体彩网:Social Security funds could run o🌊ut. Over 60% of pre-retirees are uncertain their retirement sa🔥vings will last, ꦬaccording to Fidelity.

Looking back, two-thirds of retirees said they would advise others to start saving for retirement as soon as possible—even in small increments. If they could go back in time, almost 40% of today's retirees say they would start saving sooner, and about a fifth say they would've prepared for rising costs and inflation, according to the study.