Could You Move Your Retirement Date Forward, Instead of Constantly Pushing it Back?
Retirement doesn’t have to keep slipping further into the future
If you spend much time around ordinary working people (as opposed to the uber wealthy) you’ll have noticed that everyone’s talking about pushing their retirement date back. Inflation is high, wages are stagnant, and depending on where you live, taxes may be going in the wrong direction. I
It’s easy to assume this means retirement is getting further away, but knowing what you’re dealing with, and thinking through your options, is the first step to seeing if you can actually bring retirement closer, rather than pushing it back.
Invest to beat inflation
Inflation, and wages not keeping up with it, is a major reason that many workers feel that they’re going to need to push their retirement date back. Inflation in the USA, and worldwide, is certainly high, but how high is it?
Official figures put the US inflation rate at 6.5% for the 12 months ending December 2022, but that’s deceptive. Everyone knows that the price of specific essential products, from gas (which rose 49% in the first half of 2022) to eggs, can fluctuate way outside of normal inflation levels.
