JBN | Jewish Business Network

Networking Events for Jewish Entrepreneurs

You may have heard the saying, “inflation hurts savers and benefits borrowers.”

 

The expression suggests that borrowers benefit from inflation because they pay back lenders with dollars’ worth less than when the money was initially borrowed. But for savers, your hard-earned dollars will lose buying power over time.

 

One popular way to show the “hurts savers” illustration is with retirement calculators. A fixed amount of money will lose buying power at a much faster rate if inflation averages 7% versus 1% over an extended period.

 

At an inflation rate of 1.98% from 2002 to 2022, $1,000 will require $1,479 to have constant purchasing power.  Inflation from 2002 to 2022 totals 47.89% and 2022 is not over.

 

That’s one reason why we caution against using some online tools. You can plug in a set of numbers, and the results may take you by surprise. They often raise questions that need answers.

 

If you’re concerned about inflation, please reach out. Our team of professionals watch the trends closely, and we can help put today’s inflation in a better perspective.

 

Fred Saide, Ph.D., Call: 1-800-593-8188 or book on my calendar https://tinyurl.com/2hjrvbnb

No charge for this meeting. Start now.

 

Disclosure:

 

MoneyMattersUSA®, Advisory LLC and Foundation Insurance Services, LLC are independent companies with common ownership. Advisory services are offered through MoneyMattersUSA®, Advisory LLC and Insurance services are offered through Foundation Insurance Services, LLC; Frederick Saide Financial Advisor.

Frederick Saide is not connected with or endorsed by the United States Government, the federal Medicare program, Medicaid program, or the Social Security Administration. 

For additional information or services, disclosures, fees, and conflicts of interest, please visit https://tinyurl.com/37n3wkba

 

This material was prepared in part by a third party for use by Frederick Saide

 

Views: 9

Comment

You need to be a member of JBN | Jewish Business Network to add comments!

Join JBN | Jewish Business Network

About

Josh Dill created this Ning Network.

Photos

  • Add Photos
  • View All

© 2022       Powered by

Badges  |  Report an Issue  |  Terms of Service