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With the U.S. already in the middle of a retirement savings crisis (according to the Federal Reserve Board, only 36% of non-retirees think their retirement saving is on track), the current period of high inflation is making a challenging situation even more difficult for many people. In fact, 21% of Americans have reduced their retirement savings because of inflation and a quarter of Americans will need to delay their retirement, according to the most recent BMO Real Financial Progress Index.
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