Economy Archives - Millstone Financial Group

Three Eroding Forces on Your Retirement Savings

Three Eroding Forces on Your Retirement Savings Millstone Financial

Over 60% of Baby Boomers are more afraid of running out of money than of dying, according to a recent survey.[1] Even retirees who have saved a substantial amount for retirement may be worried about outliving their […]

2021-09-07T01:46:18+00:00September 7th, 2021|Economy, Health & Wellness, Retirement Income, Taxes and Tax Planning|

How Will Social Security Respond to Higher Inflation?

Inflation is on the rise, and Federal Reserve Chairman Jerome Powell recently testified to Congress regarding the Federal Reserve’s commitment to controlling inflation. He admitted that inflation is “well above target” but didn’t indicate any major changes in Fed policy in the near future.[1] Retirees […]

2021-08-02T04:03:10+00:00August 2nd, 2021|Economy, Social Security|

Rising Costs in Retirement: Are You Prepared?

In 1960, a gallon of milk cost 36 cents, and today it costs $3.35 on average.[1] Inflation is to blame, and we could see higher inflation in the coming years. It’s important to have a sense of how much you’ll need to spend in retirement, […]

Have You Factored Inflation into Your Retirement Plan?

We’ve seen increased government spending due to COVID and significant increases in government debt. Some economists theorize that this could lead to increased inflation, and many claim that we are already seeing the effects. Although the official inflation rate may remain low for now, you may notice […]

2021-05-10T11:18:44+00:00May 10th, 2021|Economy, Financial Planning, Retirement Planning|
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