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How Does Inflation Affect Your Retirement? – Daily Flash Briefing

July 21, 2020 by Bautis Financial
How Inflation Affects Retirement

The answer is simple: Inflation decreases the purchasing power of your money in the future.

You hear it all the time: You should make sure your retirement savings at least keep pace with inflation. But what is inflation, and how does it really affect your retirement savings?

In simple terms, inflation is defined as an increase in the general level of prices for goods and services. Deflation, on the other hand, is defined as a decrease in the general level of prices for goods and services.

If inflation is high at, say, 10% (as it was in the 1970s), then a load of bread that costs $1 this year would cost $1.10 next year. Listen for more.

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Category: Finance News, Retirement PlanningTag: Inflation, Inflation Concerns, retirement, Retirement Planning, Retirement Tips
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