To Learn More About How to protect your retirement savings, read: In today's video, we will discuss how you can protect your retirement savings from inflation. Doing this will ensure that your money will last for a long time, no matter what happens in the world economy. We'll speak with our expert, Ms. Shelby, a financial planner and certified public accountant. She will discuss different strategies you can use to protect your money and ensure that it grows over time. So if you're worried about the future of your finances, watch this video and find out some great ideas on how to safeguard yourself! Inflation is a general rise in prices across the board, including those for goods and services people use to live their lives. As such, it's important to understand how inflation affects retirement savings because it can greatly impact how much money you can draw down from your 401(k) or another retirement account when you retire. In this video, we'll discuss the different types of inflation and their effects on retirement savings. We'll also give you tips on minimizing the risks associated with inflation and protecting yourself against its negative effects on your retirement savings. Causes of inflation Inflation is a process in which prices of goods and services rise over a period of time. There are many reasons for inflation, but some common causes include the following: 1) Increased demand for goods or services: When people have more money, they are likely to spend it on things they think will make them happy or need. This increased demand can lead to high levels of inflation. 2) Increased production: Companies may decide to produce fewer items to purposefully not meet increased demand, which can also lead to higher inflation levels. 3) Changes in tax rates: When the government imposes new taxes or reduces old taxes, this can cause businesses to increase prices to pass along some of the costs associated with these changes (the so-called “price stickiness” effect). Tips on how to protect your retirement from inflation: Start saving for retirement when you can Invest in Inflation resistant assets such as precious metals like gold and silver. Invest in income-producing real estate, including commercial, industrial, apartment, and single-family homes Invest in assets resistant to economic downturns. Assets like Gold or Silver are not tied to any economic system. Invest in assets that have low risk and high potential return. Examples of these types of assets are stocks and bonds. YouTube Facebook Twitter Pinterest www.pinterest.com/goldhillretreat1 Instagram Pocket: Blogger: Daily Motion: To Learn More about the harmful effects of inflation, read: Inflation affects retirement savings in a few ways. First, your retirement savings' purchasing power will decline over time if inflation increases. A major reason your retirement savings will lose purchasing power is that inflation will increase over time. When prices rise, the value of a dollar decreases. This means that items bought with your retirement savings in the future will be worth less than what you paid for them. Second, as your nest egg gets smaller and smaller relative to what you could have saved had inflation been lower, your ability to live comfortably in retirement may become harder and harder to achieve. This is a problem because you could be enjoying a comfortable retirement if your nest egg was larger than it currently is. If inflation were lower, your basic needs would have been less expensive over time, and you could have saved more money. Inflation makes the cost of necessary items like food, fuel, and housing rise faster than earnings do, so if inflation was low enough, these costs wouldn't rise as much relative to income, meaning that retirees would have had more money left over after paying for necessities. You might also like these other videos: Best Gold IRA Companies 2022 Protect your Retirement From economic ruin. Best Gold IRA Companies 2022 Protect your Retirement High Inflation or Recession Gold Has your Back High Inflation or Recession Gold Has your Back How is Goldco Protecting Your Wealth into retirement? ...(read more)
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