A survey found rising uncertainty since early 2025 around Social Security, Medicare, taxes, federal debt, and inflation.
Respondents reported ↑ concern about their financial future and ↓ confidence that federal policy will benefit Americans.
Many pre-retirees kept plans, but 21% planned later retirement; 27% shifted to conservative portfolios since early 2025.
Social Security cuts and inflation were viewed as most harmful; Medicare and tariffs also linked to defensive investing.
The brief concludes hedging policy risk is costly, so today’s heightened uncertainty clearly harms older Americans.
I’m seeing older Americans face growing uncertainty around Social Security, Medicare, taxes, debt, and inflation. Many are responding defensively by delaying retirement and investing more conservatively, even though those protections can be costly.
Impact of Policy Risks on Retirement Planning
