Inflation Is Impacting Retirement Savings. Here's How to Keep Funding Your Nest Egg in Spite of It
Inflation has been battering consumers since mid-2021. In a recent survey by Allianz Life, 55% of respondents said they've either stopped making contributions to a retirement savings plan due to inflation, or they've reduced the amount of money they're putting in. Worse yet, 45% of respondents said they've had to take a withdrawal from an IRA or 401(k) plan due to rising inflation.