Retirement Resources President, Dave Boike, Writes About The Impact Inflation Has On Retirees’ Purch
Retirement Resources President and Investment Advisor, Dave Boike, provides some helpful information for those considering retirement in the near or distant-future and in any economic environment, while focusing on current economic circumstances.
Auburn Hills, MI — July 29, 2022— Dave Boike, President of Retirement Resources and co-author of The Ultimate Success Guide with Brian Tracy published a new article post on the company website entitled, “How Inflation Impacts Retiree’s Expenditures.” Mr. Boike provides a few statistics that can affect the purchasing power of many retirees.
As Boike points out, “We’ve been on a financial roller coaster since the onset of COVID-19. The dramatic drops followed by the spectacular ascents have been dizzying.” He continues, “Cryptocurrency, the crazy rich, new kid on the block that was supposed to just keep climbing, finally tumbled to unexpected lows. Investors have been losing millions.”
“The stock market is always expected to be a roller coaster ride,” Boike reminds his readers adding, “but the pandemic has affected everything, not just the stock market. It’s affected even those things in our lives that are most stable.” He states, “The price of goods from basic food to the most luxurious of extravagances seem to be going up every day.”
According to Boike, “Anyone approaching retirement who has kept their money in the safest and most conservative investment vehicles is understandably concerned about how far their savings will take them in this inflationary economy. Since we don’t know how long these conditions will linger, we must make projections based on current circumstances.”
“In any economy,” Boike writes, “the primary concern for retirees is purchasing power. Many retirees are on a fixed and decidedly decreased income.” He goes on to say that, “Even if inflation were low this is a concern for retirees.”
Boike reviews a few areas in our current economy that future retirees need to be aware of as they plan to step away from their jobs.
Read the entire article at LINK HERE
About Dave Boike
Dave is a well-known financial educator, co-author of The Ultimate Success Guide with Brian Tracy, author of High Tide and contributing author of 21st Century Wealth. For over 30 years, Dave has been teaching investors age 55+ how to preserve their assets, increase their income, and reduce income taxes. He has taught Retirement Planning Classes at Michigan State University, Wayne State University and Oakland Community College.
For over 4 years, Dave was featured on NBC25 every weeknight at 6PM, discussing the daily market wrap-up. Many area retirees have used Dave’s advice to enjoy a financially independent retirement.
Dave is a Chartered Financial Consultant, a designation awarded only to the most experienced advisors who have completed a 10-course program of study, through the American College in Pennsylvania, focusing on Tax, Investment, Risk Management, Retirement and Estate Planning. He is an approved Member of the International Association of Registered Financial Planners, the Society of Financial Service Professionals. As a strong advocate of education, Dave recently spoke at The Michigan Association of CPA’s, and has taught retirement planning classes at Michigan State Education Center, Wayne State University, and Oakland Community College
Dave’s latest book, High Tide, A Practical Guide for Affluent Retirees to Protect, Profit and Prosper from the Coming Storm, talks specifically on the important challenges retirees are facing today and some new cutting-edge solutions to address those challenges. He teaches you in this easy to read book how to take the steps necessary to achieve your successful retirement.
Dave is Managing Member and Chief Compliance Officer of Retirement Resources, LLC, a Registered Investment Advisory Firm. Every year, since 2011, Retirement Resources has been awarded the 5 Star Wealth Manager of Michigan, which is only given to the top 7% of advisory firms.
This content is provided for informational and educational purposes only. The information, analysis and opinions expressed herein reflect our judgment as of the date of writing and are subject to change at any time without notice. They are not intended to constitute legal, tax, securities or investment advice or a recommended course of action in any given situation. All investments carry a certain risk and there is no assurance that an investment will provide positive performance over any period of time. Information obtained from third party resources is believed to be reliable but not guaranteed. Past performance is not indicative of future results.