When planning for retirement, the goal is create future spending power that can deliver a more secure future. Inflation can weaken your future spending power if you don't account for it in planning. As you go through the daily motions of buying necessities, inflation rarely comes to mind. Without proper planning, it will not become a serious thought until you are in retirement and evaluating your spending power. Thinking about inflation while investing for retirement is critical to preserve funds and afford proper care as you age. Proper planning can help your precious retirement income last through your lifetime or beyond.
It is critical now more than ever to account for longevity in retirement planning since people are now living longer than ever. Several factors contribute to steadily increasing life expectancy figures in most parts of the world. People are living longer than their ancestors due to advanced technology and healthier lifestyles.
If you have shopped around lately, you might have noticed cars, homes and credit cards cost more. The cost of any product or loan that has an interest rate attached has increased in a short period. After nearly a decade of low interest rates, the sudden spike leaves many wondering what happened.