Inflation is an important factor to consider when evaluating investing and saving for retirement. It refers to the rise in the price of goods and services over time, reducing the purchasing power of money. As a result, inflation can erode the value of retirement savings over time. Below are some key points to consider regarding inflation: Historical Inflation Rates: Inflation rates have varied over time, but over the long term, they have averaged around 3%. This means that, on average, the purchasing power of a dollar will decrease by 3% each year due to inflation. Impact on Retirement Savings: Inflation can erode the value of retirement savings over time, making it important to consider the effects of inflation when planning for retirement. For example, if you plan to retire in 30 years and have saved $1 million, assuming an average inflation rate of 3%, the real value of your savings will have decreased to around $411,000. Investment Strategies: Investment strategies tha
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