According to a new survey by brokerage Charles Schwab, 57% of U.S. 401(k) plan participants admitted that inflation is a top obstacle to enjoying a comfortable retirement. The survey also found that only 34% of participants believe they’ll achieve their savings goals, which is down from 43% in 2024. The survey also revealed that, on average, American employees expect to retire at the age of 66. Most believe that they will need $1.6 million saved, and they estimate that this amount will last them 22 years in retirement.
Check Out: Here’s How Much You Need To Retire With a $100K Lifestyle
