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Should You Be Worried About Inflation Risk?
Inflation can be a drag on your retirement savings. Use these tips to minimize risk.
Editor s Note: This story originally appeared on NewRetirement.
Inflation is a dirty word when it comes to retirement finances. We have been lucky for a while. Over the last four decades, the United States has enjoyed record low inflation rates. However, the inflation risk might be changing, and you may want to consider ways to protect your retirement from the possibility of inflation.
A Big Jump in Inflation Happened This Year
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The U.S. Bureau of Labor Statistics reported that in April, consumer prices jumped at the fastest pace in more than a decade. Higher prices were somewhat expected due to an increase in demand for goods and services as we emerge from the COVID-19 pandemic while supply is lagging behind. However, the big jump surprised economists who were widely predicting a more modest increase. Inflation risk is on
15 Important Lessons From Financial Independence Blogs
You can learn a lot from bloggers who have found financial freedom and retired early.
Editor’s note: This story originally appeared on NewRetirement.
Most people struggle and worry about being able to retire in their mid- to late 60s. At that point, you are expected to have hundreds of thousands (maybe even millions) of dollars in your retirement accounts, get additional money from Social Security, and also get some government assistance with health insurance. Even then, retiring securely can feel impossibly hard. What you really want is total financial independence forever.
Maybe you are already retired and have a dreadful feeling that you simply don’t have enough.