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Posts Tagged ‘inflation’

Are You Saving For your Retirement?

Here are five reasons, states ING, why starting early to save for retirement makes sense: You may live quite a long time in retirement. Most people spend at least 15 to 20 years in retirement, so your life expectancy plays a key role in planning for how much money you’ll need and making sure your savings last. Your retirement lifestyle may be just as costly as your current lifestyle. Some people find that their expenses decrease in retirement—their house is paid off and children have moved away. Others find that their dreams for retirement come with big price tags. Depending…

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When inflation rises, retirees’ social security checks keep pace with small increases. But if some lawmakers get their way, those raises may be a whole lot smaller in the future.

If the debt-debate in Washington gets much worse it could mean a lot more belt-tightening for America’s seniors, including changes to the COLA for Social Security, the Cost Of Living Adjustment meant to keep seniors at pace with inflation. The change proposed by both sides of Congress and the White House officials, elaborated in this SmartMoney article, is to adjust the measurement of inflation used when determining the COLA. Inflation is a fairly common concept – the general and expected upward creep of costs – but economists are less certain about the most appropriate measurement. Currently, costs of products are…

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