71% of Americans Worry Inflation Will Affect Their Retirement. Here's What to Do if You Feel the Same.

Since the latter part of 2021, inflation has been soaring. That's put a lot of pressure on consumers -- particularly those living paycheck to paycheck without any money in savings to fall back on.

Rampant inflation has been hurting retirees, too. Although Social Security got a generous cost-of-living adjustment going into 2022, the recent rate of inflation is already rendering that raise inadequate.

It's not surprising, then, that 71% of Americans are worried about inflation's impact on their retirement readiness, according to recent Fidelity data. If you share that concern, there's an important approach to retirement planning you'll need to take.

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Source Fool.com