The long senior moment

Over half of Americans have reduced or stopped contributions to their retirement savings according to an Allianz survey. Forty-three percent have dipped into their savings and 72 percent of boomers are concerned about retirement in the wake of double-digit price increases across gas, groceries and energy. Inflation has added more than $5,000 in expenses to the typical family budget according to Bloomberg and 40 percent have no retirement savings at all according to the FreedomWorks Foundation.

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