Ep. 443: Could consumer habits solve the inflation problem?

We want to answer your questions about money. Email us and you may hear yours on the air: [email protected] This week on the Pete the Planner Show, we’re exploring three main topics: How often should you look at your investments? Could changing consumer habits toward experiences, make goods less expensive? How is a person who is very behind on retirement savings supposed to retire? Here’s a preview of what happened and when: Show Notes: Looking at your investment account balances too often can cause undue financial anxiety Dame admits to looking at his investments too often, in good times and in bad. And Pete admits to checking the price of certain investments during bad times, but can’t bring himself to look at the balance. The fact is, if you’re a long-term investor and the market is trending down, looking at your account is pointless. More harm than good can come from that increased awareness. A new report suggests consumers are buying more experiences and fewer goods When the pandemic started, all you could buy were goods, as experiences were more or less closed. With the return to normalcy at the front of everyone’s mind, consumers have started to buy less stuff and buy more experiences (like travel). Theoretically, along with the supply chain getting caught-up, could result in inflation finding itself under control. If you’re 50 years old and just starting to save, is there hope at retirement? Yes, but it depends on how much money you make and how much you spend. But not the way you think. The less your household income is, the more likely Social Security retirement can replace a great deal of that income once you reach full-retirement age. Your job then become to supplement that income by systematically investing during your remaining work years. Click the PLAY button below for the rest of the show!     SIDE NOTE: — Give your personal finances a facelift. Explore our personal guidance platform: Hey Money. —   The post Ep. 443: Could consumer habits solve the inflation problem? appeared first on Pete the Planner®.