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.Is it too late to fix my retirement at 50?No — the 50s are the catch-up years by design. Catch-up provisions let you contribute above the standard limits to 401(k)s and IRAs, the HSA offers triple tax advantages for future healthcare costs, and a backdoor Roth can build a tax-free bucket even if your income is too high for direct contributions. Pair those with a segmented "bucket" strategy — instead of retreating to CDs and cash — and most late starts can still be rescued. The first step is knowing your income need, not chasing a number.