Ep. 64 – How Does Inflation Affect Retirement?
There’s a lot of talk about inflation and the future of our finances right now. If you’re concerned about what this means for your retirement savings, this episode of Retirement in Action can help put you at ease.
It’s no secret that inflation will impact your spending – especially in retirement. However, this shouldn’t 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’s 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
“Just a 1% swing on inflation can have such an impact” – Murs Tariq
“The 100-year inflation average is just a little bit above 3%” – Radon Stancil
Important Links & Mentions
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