Whether you do business with us now, never, or are considering it one day in the future, our belief is to share and help everyone grow. Whether in the business life as well as personal, we hope you enjoy these articles and find value within.
Historically, inflation has been highly correlated with unemployment levels. When more people were out of a job, inflation was lower. As more people got jobs, inflation increased. From an economic point of view, this makes sense. Jobs increase income, which increases spending, which increases demand — supplies drop and prices rise. The opposite is true when fewer people hold jobs.1
Here’s why this matters from a financial standpoint. People who are burned out often start making short-term decisions that delay their long-term goals.
It’s a common saying that “most people spend more time planning their vacation than they do their retirement.” That’s a problem, because the average vacation only lasts a few weeks. Your retirement, on the other hand, can span years.
Too many people rush to collect their Social Security benefits as soon as they retire. This is sometimes a mistake, especially if you retire early. Technically, you can begin receiving benefits as early as age 62, but if you do so, your benefits will be reduced significantly. For example, if you were born between 1943 and 1954, your payouts would be reduced by 25%. And the reduction isn’t temporary. It’s permanent.
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