Most Older Americans Balk at Enjoyment Spending

Americans may be living longer, but many say their retirement money feels off-limits. A Retirement Pulse survey from Prudential finds that 86% of respondents don't feel comfortable enough to dip into their savings for "things they enjoy." For those with at least $500,000 invested, the percentage is still 61%, reports Quartz. More than 3,000 people age 50 and up were queried. Other takeaways:

• Top worries: The stability of Social Security (44%), inflation (42%), and healthcare and long-term care bills (34%) were the main concerns of respondents.
• Guilt: Roughly 40% say they would prefer to leave their money to heirs rather than risk spending it and running out. On a related note, 61% feel guilty about spending on a big trip, and 67% are uncomfortable hiring help to make life a little easier.
• Balance: Nearly half say they struggle to balance the notion of spending money while they can still enjoy the experience versus waiting until it's too late. The more money a person has, the more pronounced this struggle.