For Americans, Death Isn't as Scary as This

A new poll, coming in the wake of pricey tariffs and inflation concerns, finds two-thirds of Americans are more afraid of going broke in retirement than they are of death. Life insurance company Allianz Life surveyed 1,000 US adults 25 and older with annual incomes of $50,000-plus and found 64% said they were more concerned about depleting their finances in retirement than about dying. About 70% of Generation Xers, aged 45 to 60, expressed concern over their retirement funds, compared with 61% of Boomers, already in their retirement years. For older generations, "inflation is a big deal because you only have a certain amount of money that you're going to have for the rest of your life," Allianz Life's VP of consumer insights, Kelly LaVigne, tells CBS News.

Another recent Allianz Life poll found 75% of respondents worried new tariffs would increase their cost of living, while 71% expected inflation to worsen over the next year. In the new poll, 54% of respondents registered concern over high inflation, 43% worried about high taxes, and 43% feared Social Security payments would be insufficient as the Trump administration makes dramatic cuts to the agency, per Investment News. "With Americans living longer in retirement and facing risks like market volatility, creating a financial strategy so that your money lasts your lifetime is a daunting task," LaVigne says, stressing the importance of speaking with a financial professional about retirement savings. The survey found just 23% of respondents had done so. (More retirement savings stories.)