Americans are experiencing a rude awakening when it comes to the impact of inflation on their ability to put money away for retirement.
Between the rising cost of groceries, the skyrocketing price of gas and other daily purchases and the volatile swings of the stock market, saving is becoming a pipe dream for many. Seventy-four percent of Americans say inflation has negatively impacted their financial situation, according to a survey by Bankrate. Twenty-five percent plan to delay their retirement, and 21% have reduced their retirement savings, data from BMO Harris Bank and Ipsos found.
