MarketWatch
Retirees, pay attention – inflation is on the rise
Americans are spending more money because of high inflation — this can be a big problem for older individuals living on a fixed budget. Retirees, many of whom are not bringing in income outside of withdrawals for their retirement accounts and Social Security benefits, will have to compensate for those additional costs. For some, it may mean taking out more money from their 401(k) plans and IRAs, which can disrupt a retirement spending plan, while others might try to cut expenses to make ends meet.
