205: How Much Should You Worry About Inflation in Retirement?

Retire With Purpose - The Retirement Podcast

Casey Weade

Education, Business, Self-improvement, Investing

4.7 • 564 Ratings

🗓️ 16 April 2021

⏱️ 19 minutes

🔗️ Recording | Apple Podcasts | RSS

🧾️ Download transcript

Summary

This week's retirement reading is from Morningstar, titled How Much Should You Worry About Inflation in Retirement?. Listen in as Casey Weade breaks down the article and shares what he thinks! Today's episode can also be accessed by visiting Howardbailey.com/205.

Show Notes: Howardbailey.com/205

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Transcript

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0:00.0	Welcome to the Retire with Purpose podcast, a show specifically designed to help pre-retirees and retirees maximize their financial confidence.
0:14.4	Casey Wheat is a certified financial planner and president of Howard Bailey Financial.
0:18.4	His newest book, Job Optional, is a Wall Street
0:21.3	Journal bestseller and is available now on Amazon and at Retirewithpurpose.com. He's your host on
0:27.9	Retire with Purpose. Hey, I'm Casey, and I believe in retirement strategies that are driven
0:33.7	by meaning and purpose. Join me this week and every week as we discuss thoughts and ideas
0:40.3	with some of today's foremost experts in the field of finance and retirement, as well as
0:45.8	discussing trending topics that could impact your bottom line. These discussions can help you
0:51.5	make better financial decisions so you can live the lifestyle you've always imagined and deserve.
0:57.9	Welcome to the show.
1:02.4	Hello there, guys and gals.
1:04.1	This is Casey, and I am joined for this special Friday edition of the Retire Thurst Podcast by Marshall Johnson here with me.
1:10.6	Hey, hey. This is our opportunity to cover one of the four articles Thurst podcast by Marshall Johnson here with me. Hey, hey.
1:11.1	This is our opportunity to cover one of the four articles we send out as part of our weekend reading for retirees.
1:17.3	That is one email every single Friday with four articles on trending topics in the retirement planning space, all designed to help you make better decisions about your retirement.
1:26.5	You can sign up and get a link to this
1:28.6	article in the show notes at retire with purpose.com. We're going to be covering an article with you
1:33.4	right now from Morningstar, and it is titled, How Much Should You Worry About Inflation in Retirement?
1:40.6	Yeah, we've got a great article here. This is quite the topic in our office each and every week when we're sitting down with the families that we serve is, hey, how much are you spending today? We built this plan. Are you spending more than we thought less than you thought? And Casey, if we just use those old rules of thumb like the article outlines here, we can find ourselves in trouble.
1:57.7	Yeah, and the way most people, I think, think about how inflation is going to
2:01.7	impact them in retirement isn't reality. It's an okay place to start from. It's a good rule of
2:07.2	thumb to use as a basis on your way to retirement, but it's not reality. And what we're referring to
	...

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