Inflation Continues to Rise: How to Navigate the Uncertainty

Inflation is at a 40-year high. For those nearing or in retirement, it could pack a painful punch, but there are things you can do now to address inflation and make sure you don’t run out of money in your golden years.

Two hikers look at a map on a sunny day.
(Image credit: Getty Images)

So many retirees budget for their ideal retirement but don’t always consider one piece of the puzzle that could easily derail a solid plan with the impact of inflation. As of January 2022, inflation hit a 40-year high as the Consumer Price Index increased to 7.5%, and everyone is feeling it when they go to the grocery store or fill up at the gas stations.

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Tony Drake, CFP®, Investment Advisor Representative
Founder & CEO, Drake and Associates

Tony Drake is a CERTIFIED FINANCIAL PLANNER™ and the founder and CEO of Drake & Associates in Waukesha, Wis. Tony is an Investment Adviser Representative and has helped clients prepare for retirement for more than a decade. He hosts The Retirement Ready Radio Show on WTMJ Radio each week and is featured regularly on TV stations in Milwaukee. Tony is passionate about building strong relationships with his clients so he can help them build a strong plan for their retirement.