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More informationThe percentage of Americans who say they are very confident that they will have enough money to live comfortably throughout retirement plunged from 27 percent in 2007 to 18 percent in 2008 after the market crash, and that number never went back up.
Feeling confident that you will have enough money to maintain your lifestyle is important, but what about inflation and unexpected expenses? When you are working, your wages typically rise as the costs of goods and services increase. Your earnings "keep pace with inflation," so normal inflation generally is not a big concern. However, when you are living off of savings, inflation actually robs you of income.
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