Inflation reduces purchasing power and can be especially problematic for retirees who live on fixed incomes and savings.

For those of you in the later stages of your working careers, this inflation can cut into the amount you have saved for retirement.

At the same time, a volatile stock market exacerbates concerns about the size of our nest eggs.

What can retirees and pre-retirees do to mitigate their worries and protect against inflation? News 12's Elizabeth Hashagen was joined by financial advisor Dana Anspach to talk about retirement savings.