There’s nothing quiet about the impact inflation is having on Americans right now, but inflation has long been considered the silent killer for retirement because of its ability to slowly erode your nest egg over time. If you aren’t properly prepared to offset the year-to-year decrease in purchasing power, it might mean trouble for your retirement down the road.
On this episode, Laura Stover, RFC® and Michael Wallin, CFP® will dive into everything surrounding inflation to help you understand how we’ve gotten to this point, determine whether the worst is behind us, and figure out when we might see things return to normal levels. The Fed believed this inflationary issue would be resolved in the short term, but now there’s worry that this could continue well into 2023 and even 2024.
So what can you do to protect your nest egg and keep from falling behind inflation? We’ll tell you a few actions you can take right now and explain how inflation adjustments are built into the LifeArcPlan™ system.
Redefining Wealth® Custom Blueprint Income Plan: https://redefiningwealth.info/schedule/
Rate, Review and Subscribe to the Podcast:
How to Connect:
Schedule a Review: https://redefiningwealth.info/schedule/
Timestamps (show notes):
3:19 – Interest rates as it relates to national debt
5:42 – Is inflation here for a while?
11:28 – What is causing inflation?
13:08 – Will things be resolved in 2023?
16:18 – How much will your money be worth in 10 or 20 years?
19:27 – What actions can you take right now?
24:44 – 3 things to protect yourself