Marylou Cyr is part of a cohort of people who retired early during the pandemic.

“I felt like the life had been sucked out of me working retail was brutal – brutal – for the last two and a half years,” Cyr told Global News.

But as stock markets remain turbulent, interest rates climb and inflation soars, it’s a challenging time to be living on a fixed income.

“I do have small savings, but it’s going to erode very quickly with inflation,” Cyr says.

A good rule of thumb is you need 70 to 80 per cent of your current income in retirement to maintain your current lifestyle, but with today’s inflation many are currently re-thinking this approach.

Anne Gaviola has more.

For more info, please go to https://globalnews.ca/news/8874396/retirement-inflation-cost-sticker-shock/

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