Inflation Archives

You Can’t Stop Inflation, But You Can Prepare

BML Wealth Marketing2022-05-23T08:34:33-07:00May 23, 2022|Economy, Financial Planning, Inflation|

Did you ever hear your parents or grandparents talk about how much less everything used to cost? They weren’t exaggerating - in 1960, a gallon of conventional whole milk was 31 cents, and today it’s $3.77 on average.[1] A few dollars might not seem like much, but that’s a 1,116% increase. You’ve likely noticed higher prices recently, even if they aren’t 1,116% higher. Unfortunately, you can’t stop inflation. But, you can prepare by working to protect your money from inflation. How Much is Inflation Costing You? In March alone, U.S. gas prices rose by more [...]

Rising Costs in Retirement: Are You Prepared?

In 1960, a gallon of milk cost 36 cents, and today it costs $3.35 on average.[1] Inflation is to blame, and we could see higher inflation in the coming years. It’s important to have a sense of how much you’ll need to spend in retirement, but this is difficult when future costs and tax rates are unknown. How will you respond to rising costs in retirement – are you prepared? Healthcare & Long Term Care Costs Healthcare costs have been rising over the past 40 years, and this trend is expected to increase. It's important [...]