mickeyd
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I had never thought of inflation as being personal before, and of course, it is. What I spend my stash on is probably a lot different than what you do with yours. Thus, our personal inflation rates are different. I find this an interesting and pragmatic concept.
Research : WHERE FINANCIAL ADVISORS FIND RESULTS
One of the main financial risks we face in retirement is the topic of this month’s lesson: your unknown and age-specific personal inflation rate.
But actually, the inflation story gets even more interesting. It seems the U.S. Department of Labor, via its Bureau of Labor Statistics (BLS), has created an entirely new inflation index for the elderly. They called it the CPI-E and it is meant to capture the inflation rate that is unique for Americans age 62 and older.
Why would inflation be different for the elderly? In fact, how does inflation get measured, at all? The answer to these questions comes down to our spending habits. Boiled down to its essence, statisticians measure inflation partially based on how we spend our money.
Research : WHERE FINANCIAL ADVISORS FIND RESULTS