thehill.com - Less than 30 percent of Americans are confident that they can keep up with their expenses as inflation continues to impact the economy, according to a new poll.
The results of a poll conducted by The Associated Press and the NORC Center for Public Affairs Research at the University of Chicago, and released on Friday, showed that only 29 percent of adults said they are “extremely” or “very” confident that they can keep up with expenses, marking a drop from the 45 percent who said so as inflation began to take effect in October 2021.
Pollsters also found that the percentage of adults who are confident they could find a job if they wanted to fell from 36 percent to 26 percent and those who are confident they could afford to pay an unexpected medical expense fell from 33 percent to 23 percent.
About 40 percent said they are somewhat confident they can keep up with expenses, while 29 percent said they are not very or not at all confident.
About three-quarters of respondents said their household expenses are higher than they were a year ago, while a third said their debt is higher. Almost half said their household savings were lower.
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Three years ago I was part of the 30% and now I am part of the 70%. Three years ago I had a 7 figure 401k and was planning to go full retirement when I hit 62. Now that I am 62 I have lost $400k out of my 401k and I cannot afford to retire. I was semi retired and now I am working full time again.
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