Inflation And Your Retirement

How will the suspected slightly higher 2021 inflation going to affect your retirement plan?Inflation is the increase of prices in an economy over time but with income remaining relatively the same. The 2020 pandemic disrupted the economy on so many levels including the increase in demand and decrease in supply.In this episode of the Secure Your Retirement podcast, we talk about inflation and how to protect your retirement plan from its impact.  We also cover why you need to work with a financial professional to ensure your investment strategy is working well with the rising inflationary type of period.In this episode, find out:Understanding the meaning of inflation and how the 2020 decrease in supply led to inflation.When inflation is good for the economy and when it can negatively impact us.How high demand and low supply impacts inflation.Double-check your investment plan when it comes to the fixed income side of things.Have a good risk management plan for your portfolio.Think about what your guaranteed income is.Have a good spending plan – understand how you’re spending money.Sit down with a financial professional and talk through inflation to ensure you have a workable plan.Tweetable Quotes:“We believe that good risk management is more important than trying to say you want to beat the market.”- Radon Stancil“Oftentimes, the longer-term investments just keep up with the pace of inflation.”- Murs TariqResources:If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!To access the course, simply visit POMWealth.net/podcast.