How can new retirees recover from crushing inflation, rate hikes and bank failures?

For many newly minted retirees, dreams of an idyllic retirement have been quickly replaced with the harsh reality of penny-pinching and sleepless nights worrying about declining retirement balances.  

Last year, the highest inflation in a generation followed by aggressive Federal Reserve interest-rate hikes to curb it caused both stock and bond markets to plunge, leaving people defenseless to protect their nest eggs.

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