Here’s how inflation is taking a toll on retirement

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With inflation soaring—coupled with the effects of the ongoing pandemic and market concerns—industry insiders said it was only a matter of time until the increase in cost-of-living expenses was going to take a toll on employees’ retirement savings plans.

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Now, a pair of surveys are confirming the dramatic effect that inflation—which grew 9.1% year-over-year in June to a 40-year-high—is taking on employee retirement, from cutting 401(k) contributions to delaying retirement.

Inflation is now the top obstacle to saving for a comfortable retirement, according to a new survey from Schwab Retirement Plan Services, out last week. The financial

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