Is Inflation The Biggest Threat To Your Retirement?
As you save your hard-earned money for retirement, you need to know the common pitfalls and threats to your wealth. Brian addresses inflation as one of the biggest threats to your retirement and answers a common question about financial planning.
(Click the featured times below to jump forward in the episode)
[0:15] Biggest Retirement Threat
- Economist Torsten Slok on CNBC says inflation is the “mother of all risks.”
- Brian says the government is not always totally truthful about the real numbers used to calculate inflation.
- Brian shares an example of how inflation could affect your wealth if you had a million dollars saved.
- Some factors that could impact inflation later on include spending and taxes.
[4:26] How Much Do I Need?
- One of the most common questions about retirement is, “Do I have enough?”
- There are a lot of variables that you don’t know.
- Long-term care can be extremely costly.
- Putting a plan in place helps you see what kind of returns you need to get on your investments.
- Brian shares about a client who built his own spreadsheet but was missing big things like taxes or variable interest rates.
- Find a financial planner to give you an unbiased opinion.
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