Impact of Bidenflation on Retirement Savings
American adults believe they need $1.46 million to retire comfortably, up from $1.27 million last year and $1 million more than the average nest egg. Bidenflation is causing anxiety about retirement due to skyrocketing costs of housing, energy, and food. Millennials estimate needing $1.65 million, up from under $1 million in 2020. Baby boomers estimate $990,000, up from $830,000 in 2020.