Kiplinger is out with what they call eight financial survival tips. It’s a great read with some terrific suggestions of things to keep in mind as we deal with inflation and a recession.
(From Kiplinger) Why is this year different from all other years for seniors? Inflation. The latest numbers show a whopping inflation rate that’s the highest since 1982. This means that everything you buy will be more expensive. You see this impact at the gas pump, the grocery store, the doctor and, frankly, all over. The issue is that you don’t have a choice not to buy certain things.
It’s interesting, because, we sort of have a love-hate relationship with our financial world. We love that the economy is back roaring at a full-employment rate and that almost anyone can get a job if they want one. We also love that wages are going up and that we are back in the car and eating out and traveling. But at the same time, we hate that this growth breeds inflation, resulting in costs for everything rising. We also may support the Ukrainians in their war with Russia, but we hate the costs to us.