How Does Inflation Affect Retirement?
There\u2019s a lot of talk about inflation and the future of our finances right now. If you\u2019re concerned about what this means for your retirement savings, this episode of Retirement in Action can help put you at ease.
It\u2019s no secret that inflation will impact your spending \xad\u2013 especially in retirement. However, this shouldn\u2019t be a cause for concern. In this episode, we look at an in-depth example of how inflation affects a retirement plan and the spending variables that can influence your savings over time.
In this episode, find out:
- Why it\u2019s important to understand how inflation works
- The average inflation rates over the last 10 and 100 years
- How to factor inflation into a retirement income plan
- Why we work with conservative inflation and growth rates
- What COLA (cost-of-living adjustment) is
- The relationship between spending and inflation in retirement
- Why retirees are less susceptible to inflation
Tweetable Quotes:
\u201cJust a 1% swing on inflation can have such an impact\u201d \u2013 Murs Tariq
\u201cThe 100-year inflation average is just a little bit above 3%\u201d \u2013 Radon Stancil
Important Links & Mentions
Resources:
If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!
To access the course, simply visit POMWealth.net/podcast.
To receive our free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on Apple Podcasts and send a screenshot to morgan@pomwealth.net.