Is Inflation Costing You More as a Retiree?

Higher prices can sting retirees harder than others for a number of reasons, but there are a few specific types of investments that can help ease the pain.

A woman checks her grocery receipt.
(Image credit: Getty Images)

Inflation hurts everyone. It seems to reach every sector, product and business in one way or another, whether it raises the cost of heating your home, lunches or road trips. But if you’re a retiree, you may be particularly worried about inflation because your spending habits and income sources might be disproportionately exposed to inflation. This means that changes to the dollar’s purchasing power may have a considerable impact on your ability to cover costs of living and maintain your quality of life.

1. Why Inflation Can Hurt Retirees Disproportionately

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Rick Barnett, Certified Estate Planning Professional
Founder & CEO, Barnett Financial and Tax

Rick Barnett is president and founder of Barnett Financial & Tax, a one-stop financial hub for clients in Michigan and beyond. He hosts the "Barnett Financial Hour" radio show and often serves as a source on local TV news stations. His professional designations include Certified Estate Planning Professional (CEPP), Masters of Estate Preservation (MEP) and Christian Financial Consultant and Advisor (CFCA).