The One BIG Thing- EVERY Financial Plan Must Account For
There are far reaching implications of rising inflation in the US economy. Although many believe that the current inflation spike is likely short term, we’ll discuss how to adjust your financial plans to be prepared for, or even take advantage of, prolonged periods of higher inflation.
1) Rising prices / planning for higher income
2) Savings & investment implications
3) Historical perspectives
4) What’s different now?
Questions that we need to ask ourselves: Did I plan for the possibility of 4,5,6%+ inflation in my retirement plan assumptions? How much of my "nest-egg" would be positively impacted by rising inflation? Does elevated inflation hurt my personal financial picture? Should I review my financial plan to account for higher inflation?