Inflation and Your Retirement

Are You Prepared For Rising Costs in Retirement?

The real challenge with inflation can present itself when individuals begin building a retirement plan. No longer getting pay raises from a job, many retirees live on fixed income sources, including savings, Social Security and retirement accounts. If your income remains the same over 20 years of retirement and inflation grows at the rate of 2% per year, you may have a shortfall as expenses outpace income in your later years.

In the following guide, we’ll explore some of the common questions about inflation, including what it is, what causes it, and why it can be a good indicator of a healthy economy. We’ll also look at how to think about inflation as you plan for a retirement that could span 20, 30, or even 40 years.

If you have questions, we are always here to help.

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