Episode 52: "The Hidden Tax - Inflation"

Today we're diving into a topic that impacts every retiree's financial well-being: The Hidden Tax... Inflation. You might not see it on your tax return, but inflation acts like an invisible force that chips away at your purchasing power, making it essential to include in any retirement plan. In this episode, we'll break down why inflation is known as the hidden tax in retirement and discuss the phenomenon of shrinkflation — the subtle decrease in product sizes that leaves you paying more for less. Plus, we'll share strategic ways to address and manage inflation's impact on your hard-earned savings. Stay tuned as we also answer your listener questions about Required Minimum Distributions (RMDs) and clear up the confusion for those born in 1959. Get ready for an insightful hour filled with expert advice, actionable tips, and the answers you need to safeguard your retirement against the stealthy bite of inflation.
Jump to a segment using the 𝘁𝗶𝗺𝗲𝘀𝘁𝗮𝗺𝗽𝘀 𝗯𝗲𝗹𝗼𝘄! 👇 TIMESTAMPS 00:00 The Hidden Tax… Inflation 10:35 Shrinkflation (paying more for less) 12:05 Inflation has to be built into a Retirement Plan 14:10 The Inflation Gut Check 17:15 How Inflation Should be Factored into Retirement 27:35 How a Retirement Income Plan Can Address Inflation 40:50 Listener Question: Can you aggregate Your TSP and IRA for RMDs? 43:43 Clarifying RMDs for those born in 1959 49:40 Our creative way to help navigate clients through RMDs
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Learn the key components you need to include in your retirement plan, check this video out: https://youtu.be/QkJzvbZ_gDs #Taxes #RetirementIncome #RetirementPlanning #RetirementStrategy #FinancialEducation #FinancialLiteracy #HowToRetireEarly #RetirementPlanningAt50 #RetirementPlanningAt60 #HowMuchDoINeedToRetire #HowToRetireEarly #RetirementPlanningTips #FinancialAdvisor #SocialSecurity
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