The declines in the stock market, surging inflation and rising interest rates have eroded investors’ confidence about their retirement, according to a new report by Janus Henderson Investors.
According to the report, 86% of survey respondents are concerned or very concerned about inflation and 79% are concerned or very concerned about the stock market. Yet despite these concerns, just 13% of investors have moved money out of stocks or bonds and into cash. Instead, investors appear to be tightening their budgets, as nearly half said they have reduced their spending or plan to reduce spending as a result of the financial markets and rising inflation, the report found.
The majority of respondents believe the S&P 500 index will be higher one year from now, while 26% believe the index will be lower, and 14% expect it will be relatively unchanged.
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