Inflation, You Better Stay Ahead of This Retirement Killer

Do you remember when you were younger, and the cost of living was much lower? From movie tickets to gas prices, the rate of inflation keeps going up. In this episode of Money on Tap, Ben and Seth outline exactly what inflation is and the practical ways you can navigate it. When it comes to managing your money, inflation needs to be understood correctly for your money to work for you.Money on Tap provides an in-depth look at the best way to manage your finances as you get closer and closer to retirement. Hosted by Ben Brayshaw and Seth Krussman, this podcast is chock full of information regarding managing money, being smart with finances, and a beginner’s guide to stocks. This hour-long podcast is an easy listen and a great way to learn more about how to be smart with your finances.Why doesn't inflation feel like the official 3%?Because inflation is the rate at which prices rise, while affordability is the level of prices you have to live with — and that level never resets. Retirees also buy a different basket than the CPI emphasizes: shelter costs, insurance, property taxes, healthcare, prescriptions, food, and fuel, several of which run far hotter than headline inflation. Oil compounds it, touching every leg of the delivery chain. A resilient retirement plan stress-tests income needs well above the Fed's target and fights back with pricing-power equities, reasonable bond yields, guaranteed lifetime income for core expenses, and tax mitigation that lets you keep more of every distribution.