At one point or another, most of us have quoted grandpa’s infamous line, “You know, back in my day...” And fun as it is to tease grandpa, as you get older, you’ll notice just about everything costs more. You can thank inflation for that, and it’s a real financial planning concern because, over the long-haul, it can eat into the buying power of your savings.
If you’d like to get a sense of how inflation affects your savings over time, use our inflation calculator to simulate different rates of return on your savings against various inflation rates. You can also take taxes out over time to see how both impact your savings. As you see the impact taxes and inflation have on your money, you might want to check out this article, which shows you how you can minimize the impact of both in retirement while also planning to protect your investments during down markets.
Click Here to use our calculator.