SoFi Survey: Rising Costs Delay 77%’s Life Plans

A SoFi survey found that rising living costs are prompting Americans to delay major plans: 77% of respondents put off at least one life event for financial reasons, most often buying a car or taking a vacation. Housing was the most commonly cited major expense, and many people funded large purchases from nonretirement savings or credit cards; some also tapped emergency funds, worked extra hours, or reduced retirement contributions. Separately, a survey of U.S. employees found financial security at a seven-year low, with about one-third delaying or skipping medical or dental care because of costs despite having insurance. A separate study also found many retirees uneasy about spending on enjoyment amid inflation and rising health care costs.