How Will Social Security Respond to Higher Inflation?
Inflation is on the rise, and Federal Reserve Chairman Jerome Powell recently testified to Congress regarding the Federal Reserve’s commitment to controlling inflation. He admitted that inflation is “well above target” but didn’t indicate any major changes in Fed policy in the near future.[1] Retirees may need to be concerned about inflation, which can eat […]
Is Our Government Anticipating Inflation?
The Consumer-Price Index (CPI) rose to 4.2% in April as compared to last year.[1] We could see higher prices when it comes to travel, food, cars, and other common goods and services. High inflation can hurt retirees who are living off their savings, especially when we have near-zero interest rates. We already see bigger Social […]
Have You Factored Inflation into Your Retirement Plan?
We’ve seen increased government spending due to COVID and significant increases in government debt. Some economists theorize that this could lead to increased inflation, and many claim that we are already seeing the effects. Although the official inflation rate may remain low for now, you may notice price increases of everyday items and services. If […]
The Pandemic Won’t Be the Last Retirement Challenge You’ll Face
The pandemic has been hard on Americans nearing and in retirement, but there are likely other obstacles coming. Increased government spending on COVID relief plus strain on our healthcare system could mean we’ll see higher taxes, inflation, and healthcare costs in the future. It’s crucial to have a comprehensive retirement plan for the future because […]
3 Recent Events That Could Show the Future of Your Finances
Planning for retirement is never a “set it and forget it” activity. There are unexpected disasters, market drops, and changing laws that invariably cause retirees to reevaluate their plans of action. Recently, the Federal Reserve’s statements regarding interest rates and inflation, as well as the GameStop stock frenzy, may have you wondering how to respond. […]
What’s In Store For Us in 2021?
We’re all looking forward to the new year more than usual. Even though COVID will remain in 2021, the changing of the calendar can bring about a new mindset and optimism. But before we forget all about 2020, let’s look at the latest COVID relief bill, which includes more stimulus checks and some changes that […]
What to Know Before Returning to Normal
The good news is that you survived the worst of the coronavirus pandemic, and the bad news is that it’s not quite over yet. For those who are returning to the workplace, restaurants, and socializing again, it’s an exciting time – but also a time that requires caution. Americans age 50 and older are considered […]
Are We Entering the Roaring 20’s Round 2?
While no one knows what this decade will bring, we might look to history for some insight. One hundred years ago, America was reeling from the Spanish Flu and uncertain economic prospects. At the time, many may have been pessimistic, but then we entered the Roaring 20’s. While there is much uncertainty now, we may […]
3 Things to Know Before Making Summer Travel Plans
The COVID-19 pandemic has resulted in many things, including canceled trips. Americans are now wondering about summer travel plans, and if it’s wise to make them before the country fully reopens. Just because everything isn’t completely back to normal yet doesn’t mean you can’t or shouldn’t take a vacation this summer – even if it […]
4 Measures to Help Businesses Through the Coronavirus Shutdown
The Small Business Administration (SBA) is tasked with distributing $350 billion in loans to help businesses. Small businesses may qualify for the Paycheck Protection Program and Economic Injury Disaster Loans, while other businesses may qualify for breaks, tax deferments, and credits through the CARES Act. Here are details on four measures to help businesses through […]