Economy
Major Changes That Could Happen During Your Retirement
Do you ever feel like you live in a completely different world than you did 20 years ago? It’s worth thinking about how different it will be in another 20 years. Beyond cultural and personal changes, we could see major economic changes that could affect us in retirement. It’s always worth knowing what’s going on…
Read MoreThe Potential Hidden Costs of Inflation
You’ve probably heard about or experienced the effects of inflation – everyday items can cost more, and the monthly inflation numbers make the news. While the increased costs we see on a regular basis can have an impact on our finances, there may be some potential hidden costs to inflation we don’t necessarily see right…
Read MoreThree Eroding Forces on Your Retirement Savings
Over 60% of Baby Boomers are more afraid of running out of money than of dying, according to a recent survey.[1] Even retirees who have saved a substantial amount for retirement may be worried about outliving their savings, and there may be good reasons for this. The potential for higher taxes, inflation, and healthcare costs…
Read MoreHow Will Social Security Respond to Higher Inflation?
Inflation is on the rise, and Federal Reserve Chairman Jerome Powell recently testified to Congress regarding the Federal Reserve’s commitment to controlling inflation. He admitted that inflation is “well above target” but didn’t indicate any major changes in Fed policy in the near future.[1] Retirees may need to be concerned about inflation, which can eat…
Read MoreIs Our Government Anticipating Inflation?
The Consumer-Price Index (CPI) rose to 4.2% in April as compared to last year.[1] We could see higher prices when it comes to travel, food, cars, and other common goods and services. High inflation can hurt retirees who are living off their savings, especially when we have near-zero interest rates. We already see bigger Social…
Read MoreHave You Factored Inflation into Your Retirement Plan?
We’ve seen increased government spending due to COVID and significant increases in government debt. Some economists theorize that this could lead to increased inflation, and many claim that we are already seeing the effects. Although the official inflation rate may remain low for now, you may notice price increases of everyday items and services. If…
Read MoreThe Pandemic Won’t Be the Last Retirement Challenge You’ll Face
The pandemic has been hard on Americans nearing and in retirement, but there are likely other obstacles coming. Increased government spending on COVID relief plus strain on our healthcare system could mean we’ll see higher taxes, inflation, and healthcare costs in the future. It’s crucial to have a comprehensive retirement plan for the future because…
Read More3 Recent Events That Could Show the Future of Your Finances
Planning for retirement is never a “set it and forget it” activity. There are unexpected disasters, market drops, and changing laws that invariably cause retirees to reevaluate their plans of action. Recently, the Federal Reserve’s statements regarding interest rates and inflation, as well as the GameStop stock frenzy, may have you wondering how to…
Read MoreWhat’s In Store For Us in 2021?
We’re all looking forward to the new year more than usual. Even though COVID will remain in 2021, the changing of the calendar can bring about a new mindset and optimism. But before we forget all about 2020, let’s look at the latest COVID relief bill, which includes more stimulus checks and some changes that…
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