'The Big Money Show' co-host Jackie DeAngelis discusses the current impact of inflation as the Biden administration defends its economic policies.
We all know that prices aren’t coming down. They are just going up slower. With the worst four years of inflation since the 1970s inflation has averaged more than 5% per year during the Biden administration. While most of us think about inflation with the cost of gas prices, the grocery store, dining out, vacation and car insurance, most Americans haven’t considered how this may impact their financial plan for the future.
Guess what? Neither has your financial advisor.
Years ago, when your financial advisor told you that you were on track to be able to retire at the age of 60 or 62 or 65 years old, what were the assumptions they used for your financial plan? The assumptions made within your financial plan can be very conservative or very aggressive depending on your viewpoint about planning for your retirement.
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To be clear, it is something you should be revisiting regularly because making minor errors in your overall plan can lead to major catastrophes over the long-term, including you holding a bag in your 70s or 80s that has no money. Here are three key assumptions that you should be revisiting right now:
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