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Published: Jul 29, 2022 5 min read
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Hoping to retire, crack open a book and relax on the beach sometime soon? Not so fast.

The soaring prices you're seeing at the grocery store, gas pump and — well, everywhere, really — may complicate things. Inflation is now the top obstacle standing in the way of saving for a comfortable retirement, according to a recent online survey of 1,000 401(k) plan participants from Schwab Retirement Plan Services.

“Workers have been through a lot over the past two years, and it’s only natural that recent economic and geopolitical turbulence has continued to fuel financial concerns,” Catherine Golladay, head of Schwab Workplace Financial Services, said in a news release.

Here's what to know about how rising prices are impacting retirement plans — and how much you need to save.