Inflation Has Many Seniors Worried About Outliving Their Savings (S)

[AnnaLee]

2. It is just another way of wealth transfer

Inflation is a large percent of income for retired workers. It is a small part of rentier profits. So, worker savings can be transferred to rich strangers leaving the younger generation without much of a parent helping hand or an inheritance. The poorer you keep the workers the more desperate for the work, or so they say. Also, around here, young couples cannot save for a house down payment for decades, leaving them hesitant to have children or even to marry. I live in a 1300 square foot, 1958 house with barely a yard and the Zillow and real estate agencies claim it is worth $600,000, or, at 20%, a $120,000 down payment. And, if their parents fear inflation taking their savings, there will be little help with that down payment.