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Does the Thought of Inflation Scare You?

By December 22, 2021 No Comments

How to Deflate Inflation:

INFLATION – Over time, the purchasing power of that dollar in your pocket will decline…

For example, the first person to ever receive a Social Security check back in the 1930s was Ms. Ida May Fuller. Ms. Fuller received a whopping $24 each month. And while in her era this would have afforded her a month’s worth of groceries, in 2021, this wouldn’t fill a half tank of gas.

Let’s fast forward to 1980. Tony’s granddad received something called a pension, or as he liked to call it, Mailbox Money®! Through this pension, he had received $665.03 each month. At the time, with his pension and his social security, granddad never had to worry about money.

You see, while granddad had received significantly more money than Ida May did, the amount would have been equivalent due to inflation… While you’re hearing more and more about inflation on the news, it’s certainly not new. It has always been around and will always be around because the costs of goods and services will go up. In summary of the video below, here are Tony’s thoughts on Inflation:

 

1

Spend Less Money

- When you get into retirement, you have to give and take on certain situations.
- For example, you can and should still travel while enjoying your retirement; however, the way you travel and where you go may look a little different depending on how much money you have.
2

Over Time, You Will Spend Less

o The 3-Halves of Life
• Save!
• Enjoy!
Enjoy your money while you can because at some point you just won’t be able to spend your money as you used to.
• Relax!
3

Make More Money on Your Money

- Here at Tony Walker Financial, we specialize in helping Savers just like you invest your money wisely.
4

Spend Both the Principal and Interest

- John Bogle said 10 years ago, “this will be the first time that Savers may be forced to spend both principle and interest in retirement.”
5

Consider an Inflation Protected Annuity

- You may be asking, “what is an inflation protected annuity?” It has provisions built into the contract that if the annuity starts growing, there is a chance that the income starts growing too.
- This means the Mailbox Money® would keep on track with inflation. As expenses begin to rise, so does your income!
6

LIVE WELL, DIE BROKE®

- Live out this principle.
- Through this, you will learn how to live a good life and not worry about running out of money.

https://www.amazon.com/Live-Well-Broke-Tony-Walker/dp/1734426705/ref=sr_1_1?keywords=live+well+die+broke&qid=1639519211&sr=8-1

 

Let’s Get Started

If you feel as if you’re lacking a GamePlan and control of your money, we invite you to meet with Tony or set up a FREE 10-Minute Fiduciary Phone call. There’s never any cost or obligation to meet with us.

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