Are We Facing Possible Inflation?
Are you scared of inflation? Let’s talk about what happens with inflation, what can cause it, and who most needs to prepare for it.
Inflation predictions (and fears) are up. Who suffers from inflation the most? While inflation impacts all of us, it often hits retirees the hardest. Retirees want to get more conservative with their investments and begin to live on fixed incomes.
You need more money than before to do the same thing or buy the same item when inflation happens. Inflation can be dangerous to those in retirement. As they try to live off of a safe portfolio and draw from cash or bonds or CDs, they aren’t able to outpace inflation.
What do rising interest rates mean for our cost of living? As the national debt rises, this becomes a real concern. Could the dollar collapse or is this financial fear mongering? Remember though that the national debt rises every year. Current national debt is over $28 trillion. How does this breakdown per taxpayer?
What options do you have when it comes to investments that will keep up with inflation? Without taking risk in the stock market, what can you do? Real estate is one possibility. If you’re wanting a higher rate of return, you’ll have to take on some risk though.
Talk to a financial advisor to make sure your financial plan accounts for inflation and prepares you well for the future.
Listen to the entire episode or click on the timestamps below to skip ahead to a particular section.
[0:14] – Google searches for the word “inflation” has spiked recently.
[3:12] – A dollar doesn’t go as far as it used to.
[4:40] – National debt is climbing.
“The issue is that your dollars become less valuable with inflation.”
Brian Bowen – Contact