The writing is on the proverbial wall — inflation and supply chain shortages are here. The news is covering it, and there is a lot of chatter about it in online forums. The media is reporting that we're likely to have a few more months of shortages and price increases. At this point, the Federal government is doing its best, but it got a lot on its plate. A quick fix to … [Read more...] about Coping With Inflation and Supply Chain Shortages
Here is a speech from the late Nobel Prize winning economist Milton Friedmann. Its an excellent explanation of the root causes of inflation, its effects on your income, and what can be done to combat it. This is important today as inflation is starting to reemerge (clicky). If you're interested in understanding personal finance, you should probably develop at least … [Read more...] about Understanding Inflation
When planning for retirement most people start with the basics: their budget, their retirement age, life expectancy and their expected retirement income. Usually the inflation rate assumption is more of an afterthought. We all know that our expenses generally go up each year when inflation is greater than 0%. What so many don’t understand is that higher inflation rates usually … [Read more...] about Will Your Retirement Plan Keep up with Inflation?