Like heart attacks, inflation is often silent. Remember to consider the plans you have for the future will seem more expensive. The dollars value, and your time may have a lower value in the future. Its important to have your money working to both grow in value, and outpace rising costs.
Many savings accounts are paying less than 3%, and real inflation, should major repairs or expenses be incurred are growing over 4%. College tuition has exceeded 6-7% inflation per year.
Careful planning is necessary to lay a strong foundation. With salary and social security increases being around 2%, it’s easy to discover how people seem to be falling behind especially with medical expenses dramatically increasing!
Win the game by considering the long-term expense of interest, inflation, insurance costs, investment costs, inflation, and impulsive spending.
Keep and “eye” on the “I”
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