Inflation and Your Retirement Plan – How to Cope with Rising Costs and Keep Your Savings Safe

Discover expert strategies for protecting your retirement plan in times of high inflation, including tips for diversifying your portfolio and building a solid financial plan…

 

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Episode 22:  Inflation and Your Retirement Plan – How to Cope with Rising Costs and Keep Your Savings Safe

Learn all about inflation, what it is, what's causing the current inflation, what the Fed is doing about it, and how we can protect ourselves and our own financial security during periods of high inflation.

What is inflation?

• Definition of inflation and how it affects the cost of goods and services.
• Examples of inflation in everyday life.

Causes of inflation

• Factors that can cause inflation, including an increase in demand, a shortage of supply, and government policies.
• Corporate wages and historically low unemployment as sources of inflationary pressure.

The Federal Reserve's policy on inflation

• The Fed's target rate of inflation.
• The policy of raising interest rates to slow down the economy and control inflation.
• The risk of raising rates too high too quickly and causing a recession.
• The Fed's ability to stimulate the economy by lowering interest rates if necessary.

Strategies for protecting yourself during inflationary periods

• The importance of having a financial plan that accounts for inflation on different types of expenses.
• The need for diversification and asset allocation in investment portfolios.
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