Inflation battered retirement savings in 2022

According to new data, a year of surging prices for everyday expenses squeezed Americans' budgets to the point of kneecapping an alarming number of U.S. households' retirement savings in 2022, 

The TIAA Institute and George Washington University's Global Financial Literacy Excellence Center's latest Personal Finance Index released last week found historically high inflation forced a quarter of Americans to slash their retirement savings and a full 12% to quit saving entirely over the last year, concerning researchers.

"This steep of a drop – on top of a crisis where 40% of Americans already don’t...