You Can’t Stop Inflation, But You Can Prepare

You Can’t Stop Inflation, But You Can Prepare Barnett Financial & Tax

Did you ever hear your parents or grandparents talk about how much less everything used to cost? They weren’t exaggerating – in 1960, a gallon of conventional whole milk was 31 cents, and today it’s $3.77 on average.[1] A few dollars might not seem like much, but that’s a 1,116% increase. You’ve likely noticed higher…

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Four Common Retirement Mistakes You Could Be Making

Four Common Retirement Mistakes You Could Be Making Barnett Financial & Tax

Practice makes perfect, but unfortunately, retirement isn’t something you can practice. It typically happens one time, and there may not be many opportunities to learn from your mistakes. The best way to avoid making mistakes in the first place is to educate yourself and create a plan. Here are some common retirement mistakes you could…

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The Retirement Rules Could Change Soon – Have a Response

The Retirement Rules Could Change Soon – Have a Response Barnett Financial and Tax

  If you have a financial plan in place, you may think you’re set. However, the rules of retirement are always subject to change. We’ve seen new retirement legislation in the last few years and could see more soon. It’s important to understand how you could be affected and think about how you will respond.…

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The History and the Future of Money

The History and the Future of Money Barnett Financial and Tax

We’ve come a long way from trading pelts and seashells as currency, and there have been many changes to how we produce and use currency between then and now. The value of currency and inflation affect us all, as we’ve seen recently at the gas pump and the grocery store. Here’s what we can learn…

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3 Major Retirement Expenses to Include in Your Budget

3 Major Retirement Expenses to Include in Your Budget Barnett Financial and Tax

General retirement planning advice says that you’ll need about 80% of your pre-retirement income in retirement, but this may not be the case for everyone. Inflation, taxes, and long-term care costs are easily overlooked – but these expenses could be high. When creating your retirement budget, don’t forget to include these three expenses. Taxes: How…

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Rising Interest Rates and High Inflation – How Will You Respond?

Rising Interest Rates and High Inflation – How Will You Respond? Barnet Financial & Tax

The Federal Reserve voted to raise interest rates for the first time since 2018 and has several more rate hikes planned for this year.[1] Rising interest rates can have significant effects on the economy and your finances. Between a volatile market, high inflation, and rising interest rates, know how you’ll respond. The Federal Reserve Raising…

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How Do You Handle a Volatile Market?

How Do You Handle a Volatile Market? Barnett Financial & Tax

Now that you’re nearing retirement, the term “market volatility” might stir up different feelings than it did 30 years ago. Older workers and retirees understand that they have less time to make up for losses in their investments and to ride out future market crashes than they did when they were younger. Leaving your financial…

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How Much Are You Left With After Inflation?

How Much Are You Left With After Inflation? Barnett Financial & Tax

In 1960, a gallon of conventional whole milk was 31 cents, and today it’s $3.77 on average.[1] A few dollars might not seem like much, but that’s a 1,116% increase. Now that we’re seeing high inflation, the buying power of your money – including your retirement savings – could be seriously impacted. When calculating how…

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3 Tips for Financial Health in the New Year

3 Tips for Financial Health in the New Year Barnett Financial & Tax

A recent survey found that 85% of Americans said their personal finances were causing them stress. One of the most common concerns was having enough saved for retirement. There’s no better time than now to review your current situation and make resolutions. If you’re feeling anxious, angry, or fatigued due to your money-related stresses, then…

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