It is a common misconception that prices come down when inflation cools, when in reality a period of high inflation leaves a legacy of high prices. According to the Bureau of Labor Statistics, U.S. consumer prices have increased 22.7 percent since January 2021, with some categories seeing even steeper price increases than that. Food prices have are up 25 percent, rents have increased almost 27 percent and transportation prices are up 28 percent. And yet, nominal wages have only grown 21.8 percent since January 2021, leaving many people worse off than they were almost five years ago. Cost of Living Is the Biggest Challenge Americans Face https://www.statista.com/chart/35054/biggest-challenges-faced-by-americans/
Retirement Savings Survey: 50% of people don’t think it’s realistic for the average American to expect to retire comfortably – https://wallethub.com/blog/retirement-savings-survey/133047
The second survey is small with just over 200 respondents. The methodology statement is vague so it’s hard to tell if the findings are truly representative of a larger population.
Maybe the survey got an overwhelming number of pessimists.
Then again, maybe not.
Yikes.

















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