Survey shows respondents are confident in retirement amount but not factoring inflation, healthcare

Core Insights - Inflation reached a 3% annual rate in September, leading to a 2.8% increase in Social Security benefits for over 71 million Americans [1] - Many individuals are optimistic about their retirement but lack proper planning to ensure they can cover essential expenses [3][4] - A significant portion of the population has not factored in inflation and healthcare costs into their retirement planning, with 55% of Americans overlooking inflation [4][5] Retirement Planning Concerns - Survey results indicate that 89% of Americans believe they can cover essential retirement expenses, but this confidence is not backed by adequate planning [3] - The rising cost of living, including rent and healthcare, is not being considered in retirement strategies, which could lead to financial shortfalls [4][5] - Millennials are particularly confident about their future but may not have enough time to adjust their plans as they face uncertainties regarding government benefits [6][7] Global Perspective - Concerns about government retirement systems are widespread, with individuals in the US, Brazil, Mexico, and Japan expressing doubts about the reliability of benefits [8] - The generational divide shows that millennials anticipate greater challenges in retirement, including the burden of caring for both adult children and elderly parents [10]