As inflation continues to climb, many people are wondering how far their retirement savings will actually get them. Consumer prices rose 8.5% last month compared to the year before. There’s a lot of financial anxiety among Americans. Especially those who are on fixed incomes or already retired.
Your retirement plan will certainly change when you’ve planned on 3% inflation rates and that rate has doubled and then some. You’re going to need to establish new money-saving strategies as well as make sure you have moved your cash to smart investments to keep up with inflation.