Article originally published by Kiplinger.com.
Written by Joseph Donti
“As America’s economy reopens, we’re seeing higher inflation rates, and this unwelcome surge should prompt retirees to consider the threat it could pose to their financial security.
“The 5.4% rise in the consumer price index in the last year marked the highest inflation in almost 13 years. If you remember the soaring, double-digit inflation rates of the 1970s, you may be worried now. However, even if inflation never reaches those levels again, you still need to consider the eroding effects it has on your nest egg over the long haul.
How Much Will Your Money be Worth in 10 or 20 Years?
“Even moderate inflation can have a significant effect on a retiree’s savings. The Federal Reserve’s target inflation rate is 2%, but the Fed has said it will allow inflation to rise above that mark for some time. Let’s take a look at how an average annual inflation rate of 3% over the next 20 years would impact your finances.”
Read the rest of this article by clicking here.
Bob has a passion for making your money work hard for you. He takes profound joy in ironing out a plan for a long and comfortable retirement, no matter what your current income or level of wealth. With a work ethic second to none, he has a zeal for transforming uncertainty into stable ways for you to protect your future and your family. He knows that the quality of your life you enjoy today can remain as rewarding—or even better—after retirement.
With a strong background in information technology, Carol is instrumental in building operational policies and strategies that keep the organization functioning smoothly. Carol’s organizational skills and her flexibility to jump from priority to priority along with her commitment to customer service makes her an essential part of the Grimard Financial team. When Carol is not working with the Grimard Financial Family, she is a very creative and accomplished photographer.