How Inflation Impacts Your Investments and Social Security WEP/GPO Q&A!

Over the past few years one of the hottest topics has been the rise of inflation throughout the economy. Inflation impacts our day-to-day financial lives in numerous ways, good and bad, and has a significant effect on our investments over time. It is a silent killer that affects our spending habits, retirement income and other financial goals you we have.  Understanding how inflation works over the long-term and how it can affect your investment decisions is a critical piece to your financial and retirement plans. Social Security has two unique provisions for those who will receive pensions from government related entities known as the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). If you are to receive a pension from a government related entity, these are two must know provisions to help you make Social Security claiming decisions. More specifically, I discuss: The misconceptions around inflation How inflation affects your investments and planning Predicting the movements of the economy and interest rates Listener question regarding Social Security WEP and GPO provisions Resources: Access Show Notes and Sign Up for the Retired·ish Newsletter HERE Free Retirement Jump-Start Analysis  Ask Cameron A Question! The key moments in this episode are: 00:00:00 - Understanding the Impact of Inflation  00:04:19 - Long-Term Impact of Inflation  00:07:42 - Addressing Inflation and Taxes in Financial Planning  00:11:09 - The Risk of Predicting Inflation and Interest Rates  00:14:30 - Understanding Social Security Provisions  00:17:41 - Understanding the Windfall Elimination Provision (WEP)  00:18:56 - Impact of WEP on Spouse's Social Security Benefits  00:20:25 - Complexities of WEP Calculation  00:21:55 - Government Pension Offset (GPO) and Its Impact  00:24:14 - Seeking Comprehensive Retirement Planning