My Smart Retirement

We have reached the highest inflation rate in 30 years. What can old-time principles teach us about protecting our retirement plan against inflation? How can we protect ourselves? While inflation may seem like a problem for the country's economy, it is also a problem for us personally. On today's episode, we will discuss the inflation rate, wage growth, and how retirement accounts are changing to account for current economic times. As of October, the annualized inflation rate is 6.2%. However, wage and income percentages are not keeping up. The wage rate growth is only 4.9%. This is a problem for those still working and for retirees. Employees aren't seeing their income keep up with inflation and retirees aren't seeing their savings keep up either. In many ways, inflation is a hidden tax. Inflation affects us differently. Whether you are a couple in your 40s with children or a retiree enjoying their retirement in a new home, what you are spending money on looks different. Some things we have to purchase thoug