How Big of a Threat Does Inflation Pose to Your Retirement?
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.
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