Veale Institute executive director Michael Goldberg spoke with News Channel 5 on inflation and what experts are saying is a record-high amount of money that most Americans will need upon retirement.
“Inflation is really psychological for folks, as much as it is impacting our bank accounts,” he said.
Economists say it’s no wonder saving for retirement is also creating additional stress.
“Because they’re worried about the present, they’re naturally worried about the future and making sure they have enough savings to sustain them for those years when they’re not going to be bringing in significant income,” Goldberg said.