• Question
  • Best way to keep up with inflation?

    Asked by a 75 year old man from Carmel, IN on 8/23/2012

    Best way to keep up with inflation?

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  • Categories: Retirement Planning, Inflation and COLA

Answers

  • Editorial 

    Editorial 
    NewRetirement

    San Francisco, CA

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  • Ronald Reagan said, "Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hit man."

    When living on a fixed income, inflation has a profound impact on your quality of life. When you are working – your wages generally rise as the costs of goods and services increase. Your earnings "keep pace with inflation", so normal inflation is not generally a big concern. However, when you are living off of savings – inflation literally robs you of income.

    A guaranteed lifetime annuity with inflation protection might be one of the best tools for retirees who have some savings. You can use our annuity calculator to explore the cost of buying guaranteed income.
    ------> https://www.newretirement.com/Services/Annuity_Calculator.aspx

    Or, you may also want to consult with a Financial Advisor. NewRetirement can arrange a FREE consultation with an advisor who may be able to provide some additional suggestions tailored to your exact situation.
    -----> Free consultation by phone: https://www.newretirement.com/free-retirement-consultation.aspx

  • Login to rate this answer:   Answered on 8/23/2012
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.