Core Insights - A recent survey by Charles Schwab reveals that despite a decrease in the U.S. inflation rate from a peak of 9.1% in 2022, most individuals remain concerned about rising prices affecting their retirement quality [1][3] Group 1: Survey Findings - The survey conducted in Spring 2024 included 1,000 investors with 401(k) accounts and 100 Generation Z participants, showing that 57% of respondents view inflation as the biggest obstacle to enjoying retirement [3] - Confidence in achieving long-term retirement savings goals has declined, with only 34% believing they can meet their targets, down from 43% in 2024 [3] - Many individuals have adjusted their spending habits to secure 401(k) contributions, with 39% reducing shopping frequency and prioritizing cheaper products, while only 11% have cut back on retirement savings due to economic pressures [3] Group 2: Retirement Funding Concerns - The average amount respondents believe is needed for retirement is approximately $1.6 million, a decrease from $1.8 million in 2024, but still within a reasonable range [3] - A report by the Lifetime Income Alliance indicates that 52% of consumers aged 45 to 75 have less confidence in Social Security compared to five years ago, with 58% worried about future benefits being reduced [4] - Predictions from the Committee for a Responsible Federal Budget suggest that a dual-income couple retiring in early 2033 could receive $18,100 less annually in Social Security benefits compared to the average for those retiring in 2025, representing a 24% reduction [4]