RISING INFLATION, INTEREST RATES & EXPENSIVE MARKETS CALL FOR REASSESSING RETIREMENT PLANS

January 14, 2022

One of the biggest changes of the past year has been the record number of Americans who are quitting their jobs. It’s so pronounced that it has a name. It’s called “The Great Resignation.” 

What The Great Resignation means for retirement planning is just one of the items on Christine Benz’ financial to do list this year. Another major area of focus is adjusting to much higher inflation. Consumer Prices increased 7% in December versus a year ago, the fastest increase since 1982 and the third month in a row that inflation exceeded 6%. 

This elevated rate of inflation presents a big planning challenge.   Benz, who is Morningstar‘s Director of Personal Finance, is joining us for the fourth year in a row to help us get in financial shape for a new year and will tackle these important changes among others. 

WEALTHTRACK Episode #1829 broadcast on Janurary 14, 2021

Listen to the audio-only version here:

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CHRISTINE BENZ


ACTION POINT

THINK TWICE BEFORE JOINING THE GREAT RESIGNATION MOVEMENT

  • Retirement tends to be longer and more expensive than most realize
  • Early retirement can put dent in retirement income
  • Self-employment drawbacks:
    • Lack of a regular paycheck, benefits and matching 401k contributions 
    • Backup services including offices, supplies, tech support, etc. are expensive

BOOKSHELF


ONE INVESTMENT

INFLATION DEFENSE

  • Buy Vanguard Short-Term Inflation-Protected Securities Fund (VTIPX)
VTIPX Total Return Level Chart

VTIPX Total Return Level data by YCharts


ARCHIVES

Christine Benz from the WEALTHTRACK Archives:


WEB EXTRA

CAREER MOTIVATION

Morningstar’s longtime Director of Personal Finance, Christine Benz never loses her enthusiasm for the job. She explains what keeps her motivated.

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