A handy tool from the Bureau of Labor and Statistics shows how inflation affects the spending power of your dollars over time. https://data.bls.gov/cgi-bin/cpicalc.pl?cost1=100.00&year1=200306&year2=202306
Inflation is a risk to your retirement savings just as much as stock market risk. We have to balance the two risks. We need stocks as a hedge against inflation. Bonds and other "fixed rate" investments (CD's, money market, stable value funds, annuities) can't keep up with inflation nearly as well as stocks can. So we use stocks as a guard against inflation and we use bonds for our reserves when stocks have the occasional panic.
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