Soaring inflation has skyrocketed prices for everything from basic commodities to consumer goods, presenting a challenging future for pre-retirees hoping to maintain the value of their assets and factor in money for long-term care and other health care needs.
According to the recent "Risks and Process of Retirement Survey" report, issued by the Society of Actuaries, inflation now ranks as the boomers' top retirement concern.
And as life expectancies increase – 30 percent of all women and almost 20 percent of men currently aged 65 will likely live to 90 and beyond – adequately planning for many years of income is a tremendous challenge.
