Many people who retired a year ago are starting to regret that decision as inflation has driven living costs upward to an extreme degree. And it's not just recent retirees who are struggling with higher living costs. Some seniors who have been managing for years are now finding themselves unable to make ends meet.

Of course, inflation isn't just a problem for retirees. Working families all over the country are struggling as a result of higher food, utility, and rent costs, to name a few.

But retirees might struggle uniquely with inflation because they're truly on a fixed income. And those looking to stretch their nest eggs a good 20, 25, or 30 years may not be comfortable with the idea of simply increasing their withdrawal rate to cope with higher expenses.

Continue reading

Source Fool.com