What is inflation and how does it affect retirement savings?

To Learn More About Inflation affects your retirement savings, read: https://www.goldhillretreat.com/economy/inflation/how-to-protect-your-retirement-savings-from-inflation Inflation is a general rise in prices across the board, including those for goods and services people use to live their lives. As such, it's important to understand how inflation affects retirement savings because it can greatly impact how much money you can draw down from your 401(k) or another retirement account when you retire. In this video, we'll discuss the different types of inflation and their effects on retirement savings. We'll also give you tips on minimizing the risks associated with inflation and protecting yourself against its negative effects on your retirement savings. What are the effects of inflation on retirement savings? The effects of inflation on retirement savings depend on a person's specific situation and investment portfolio. Generally, though, inflation will erode the value of a person's retirement savings over time. How can you protect yourself from inflation? You can protect yourself from inflation by saving your money and investing it in assets that will not be impacted by inflation. The IRS created the Self-directed IRA to purchase Gold and Silver in their IRA account. Invest in Gold and Silver for inflation-resistant hedges. Investing in physical gold and silver bullion as inflation-resistant hedges can provide peace of mind during times of volatility. When the price of goods and services rises faster than the rate at which the global economy grows, people often experience an increase in their debt loads. Gold and silver are finite resources, meaning that their worth can not be artificially inflated by government or financial institution policies. As such, these precious metals retain value even when other assets may decrease in value. YouTube https://www.youtube.com/channel/UC_NiruRIH1Kiv38MCji4pVA Facebook https://www.facebook.com/GoldHillRetreat Twitter https://twitter.com/GoldHillRetreat Pinterest www.pinterest.com/goldhillretreat1 Instagram https://www.instagram.com/goldhillretreat/ Pocket: https://getpocket.com/@goldhillretreat Blogger: https://goldhillretreat.blogspot.com/ Daily Motion: https://www.dailymotion.com/goldhillretreat To Learn More about the harmful effects of inflation, read: https://www.goldhillretreat.com/economy/inflation/how-to-protect-your-retirement-savings-from-inflation Learn more about how inflation affects retirement savings. Inflation affects retirement savings in a few ways. First, your retirement savings' purchasing power will decline over time if inflation increases. A major reason your retirement savings will lose purchasing power is that inflation will increase over time. When prices rise, the value of a dollar decreases. This means that items bought with your retirement savings in the future will be worth less than what you paid for them. Second, as your nest egg gets smaller and smaller relative to what you could have saved had inflation been lower, your ability to live comfortably in retirement may become harder and harder to achieve. This is a problem because you could be enjoying a comfortable retirement if your nest egg was larger than it currently is. If inflation were lower, your basic needs would have been less expensive over time, and you could have saved more money. Inflation makes the cost of necessary items like food, fuel, and housing rise faster than earnings do, so if inflation was low enough, these costs wouldn't rise as much relative to income which means that retirees would have had more money left over after paying for necessities. You might also like these other videos: Best Gold IRA Companies 2022 Protect your Retirement From economic ruin. https://youtu.be/JczzEPImrWg Best Gold IRA Companies 2022 Protect your Retirement https://youtu.be/6DoGyMMPh_s High Inflation or Recession Gold Has your Back https://youtu.be/QXSCJXmapVE Protect your Retirement Hedge against inflation with Augusta Precious Metals https://youtu.be/tAfVpJXVUKY Senior Gold IRA Portfolio Diversification -Augusta Precious Metals; https://youtu.be/iUiwdr4HcEQ Best Gold IRA Companies 2022 Protect your Retirement https://youtu.be/6DoGyMMPh_s High Inflation or Recession Gold Has your Back https://youtu.be/QXSCJXmapVE Protect your Retirement Hedge against inflation with Augusta Precious Metals https://youtu.be/tAfVpJXVUKY Senior Gold IRA Portfolio Diversification -Augusta Precious Metals; https://youtu.be/iUiwdr4HcEQ How is Goldco Protecting Your Wealth into retirement? https://youtu.be/kEunb1uYL9g https://dai.ly/x8b3mgs #Whatisinflationandhowdoesitaffectyourretirementsavings? #RetirementSavings #PurchasingPower #ProtectingWealth #TreasuryInflationProtectedSecurities #PersonFinance #RisingInflation #MutualFunds #retirementplanning #SocialSecurity #RetirementAccounts

Watch video on YouTube here: https://youtu.be/Xcka9gdPY_Y by Gold Hill Retreat

source https://goldhillretreat.weebly.com/blog/what-is-inflation-and-how-does-it-affect-retirement-savings