What Does Inflation Mean to You?

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Do you remember the 70s? I do. I remember that I could ride my bike to the pharmacy and get a candy bar for $0.25. My mom would tell me she could get five for a quarter when she was a kid. I’d think, “How can that be possible?”

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Nowadays, it’s not even close. But I haven’t bought a candy bar in a while.

Scooping ice cream in the 80s, I would serve two scoops for $0.50. Later when we’d take our own kids out for ice cream, I’d spend about twenty bucks. Inflation is a thing. But it means different things at different times in your life.

Imagine if you could have locked in interest rates in the teens back in the eighties and had them for the rest of your life. Well, think about that for a second. If ten years is a good chunk of your retirement, why not consider some of the more attractive rates today? The road to riches is one of baby steps over a lifetime and making good decisions.

Yes, inflation means different things to different people—even in your own family, for that matter. If you’re a saver, and chances are if you’re reading Your Survival Guy you’re a saver, then you know you need to take action to protect what you make.

We’re not looking for the perfect here. We’re looking for what’s decent right now.

Action Line: Stick with me. We’ll get through this. When you’re ready to talk, let me know.

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E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com To sign up for my free monthly Survive & Thrive letter, click here.