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:
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.