Australian retirees are withdrawing their pension savings at increasing rates as global turmoil and surging inflation erodes their already fragile confidence.
Inflation, debt, health costs and entitlement fears have driven U.S. retirement confidence to a nine-year low, per EBRI's latest survey. Workers' optimism fell to 61%, retirees to 73%, amid rising everyday expenses that outpace savings gains.
As baby boomers retire and start spending their nest eggs, they will need new financial products to make their money last, according to speakers at a recent Wharton Impact Conference titled, "Managing Retirement Payouts: Positioning, Investing and…