There is no mystery to controlling inflation. You just have to stop spending money you don’t have…stop lending out money at interest rates below inflation…and stop ‘printing’ up extra money to cover the holes in your budget. Instead, most governments continue to spend and print. Inflation is on the rise almost everywhere. And for the first time in modern history, much of the entire world’s middle class – the people who make the world work – is facing a grim period of higher inflation and lower real standards of living.
Salt Lake City, often popular with younger homebuyers, has the largest share of mortgages offered to Gen Zers. With 16.60% of mortgage offers in the metro going to Gen Zers, Salt Lake City retains its No. 1 spot from last year’s rankings.
After Salt Lake City, relatively inexpensive Louisville, Ky., and Oklahoma City are the next most popular metros among Gen Z buyers. Respectively, 15.86% and 15.34% of mortgage offers in these two metros go to Gen Zers. Oklahoma City fell one spot from last year, while Louisville rose from seventh.
A female (left) and male rose-breasted grosbeak at an outdoor feeder last summer. (Huron Hub file photo by Scott Bolthouse) Posted by The Huron Hub | April 21, 2022 As Michigan continues to respond to detections of highly pathogenic avian influenza – commonly referred to as “bird flu” – some residents are asking questions about […]
This week I made a donation to the Regional Food Bank of Oklahoma https://www.regionalfoodbank.org/. If you live in Oklahoma please consider a year end gift. There is a $500,000 dollar for dollar match until year end. If you live elsewhere there will be a similar charity you can give to.
I think a lot of Americans who are preparing to retire now are going to have to rethink their plans. Because there’s no way the money that they’ve saved and the income streams that they anticipate receiving are going to be sufficient given the much higher cost of living that we’re going to be experiencing. And this is not just going to be a few percent a year. We’re talking double-digit increases in the cost of living for many, many years in a row.
Peter Schiff, chief global strategist of Euro Pacific Capital
A hedge against inflation in retirement is to keep working. My patented solution is twofold: Build a nest egg while working, and work for as long as possible, either doing what you’ve been doing, or doing something new and interesting and fun. Full-time is great, but even a part-time gig is great, and for all kinds of reasons, not just money, and even if you have plenty of money and don’t need to work.
Retirement math now is simple. If you can, work longer and save more.
Prices in the three production stages that are the furthest up the pipeline (Stages 1-3, red, green, gray) have all jumped by over 20% year-over-year. Prices at production stage 4 (black), up 12.1% year-over-year, are inputs for final demand prices, which are inputs for consumer prices.
Final demand prices are what consumer prices will encounter pretty soon in their consumer prices. Stage 4 intermediate demand prices will follow. And prices in productions stages 1-3 are further behind, but they’re true whoppers, and they will provide massive pressures on consumer prices for months to come:
Prior to the 1950’s, there was no such thing as retirement, as the term is used today. A 1950 poll showed that most workers aspired to work for as long as possible. Quitting was for the disabled. Also, remember that in 1935 when the government was determining the appropriate retirement age for social security (65) the average adult male died at age 63.
The Baby Boom generation is also living longer than the generation before it. Chances are a married couple age 65 will have one spouse live into his or her early nineties. That is nearly 30 years of living off of one’s savings and Social Security if one retires at age 65. The math does not work for this many people. For so many to have golden years, there needs to be gold (money) to support them.
Thinking about retirement? I’ve been thinking about retirement for quite some time and the thought of not working doesn’t appeal to me. There will come a time when the 40+ hour workweek will be no longer doable. But for now that time is far off in the future. The math in retirement will not work for the majority. I see inflation all around and my planned retirement income streams and savings will not last as long as hoped if everything costs more. Retirement math now is simple. If you can, work longer and save more.
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