I Prayed have prayed
Father, help us get out of this financial mess. Give our country a heart for fiscal responsibility, and help those Americans being hurt by inflation right now.

Inflation is affecting every part of the economy, and now it’s stealing retirement from millions of Americans.

From CNBC. Americans’ finances are being squeezed as inflation pushes up prices on things such as rent, groceries and gasoline.

Post a prayer for your state!


As a result, one-quarter of Americans will have to delay their retirement, according to the BMO Real Financial Progress Index, a quarterly survey conducted between March 30 and April 25.

Putting off retirement plans is mostly due to disrupted savings from increased prices, the survey found. Thirty-six percent of survey respondents have reduced their savings and 21% are putting away less for retirement in order to keep up with growing costs, according to the survey.

“We haven’t seen this level of inflation in a very long time, and it’s very daunting,” said Paul Dilda, head of consumer strategy at BMO Harris Bank. He added that many people in or near retirement may not have considered this surge in prices in their financial plans, which has thrown off budgets and timelines as well.

Time horizons

Younger Americans have been the most adversely affected. More than 60% of those ages 18 to 34 said they had to pull back savings contributions to make up for rising costs of necessities.

In addition to grappling with higher prices on nearly all goods and services, Americans are facing a volatile stock market that may have also contributed to shifting retirement timelines….

How are you praying for our economy? Share your thoughts and prayers in the comments.

(Excerpt from CNBC. Photo Credit: Andre Taissin on Unsplash)

Comments (0) Print


Leave A Reply

Your email address will not be published.

No comments have been posted yet; you can be the first!

Partner with Us

Intercessors for America is the trusted resource for millions of people across the United States committed to praying for our nation. If you have benefited from IFA's resources and community, please consider joining us as a monthly support partner. As a 501(c)3 organization, it's through your support that all this possible.

Dave Kubal
IFA President
Become a Monthly Partner


Click below to share this with others

Log in to Join the Conversation

Log in to your IFA account to start a discussion, comment, pray, and interact with our community.