Rising inflation: There’s no getting around this topic right now, and you probably want to know how it will affect your financial planning goals. After all, inflation affects many different areas of the financial plan, including living expenses, spending levels, income needs, portfolio withdrawals and volatility.
This inflation checklist can help you identify where there’s risk, and shed light on opportunities to improve your financial situation. Use the checklist to cover the following issues:
- The effect inflation may have on your cash flow and budgeting.
- Inflation’s consequences for your assets, and the solutions that can mitigate the damage.
- Tax planning ideas that may be relevant to you during inflationary periods.
- Miscellaneous areas that high inflation may affect.
Unfortunately, most people take no action (or worse, make hasty decisions) during times like these, which may hurt them in the long run. This checklist can pave the way for better planning discussions and decision-making during the current inflationary period.
Episode 109 – Bautis Financial Book Club: Stacked: Your Super-Serious Guide to Modern Money Management