Will inflation become big challenge for retired people after 10-20 years?

[joniboini]

There's definitely going to be people who's going to  let their money be affected unknowingly though since there's probably at least 2-3 out of 10 people that wouldn't know how inflation works in the first place.

In my country, it feels like everybody knows their wealth will decrease if they don't save or invest in one way or the other. The current trend for young workers is having a dream to move to the countryside and build a home over there since the price is cheap. I believe most people have more or less the same dream right now, considering how expensive homes or apartments are in big cities. The problem is the lack of job opportunities in the countryside, but most of them plan to work from home after they enter retirement. So while inflation is not well understood, at the very least most of them have plans to look for cheaper alternatives or actively look for jobs with higher payments every two years or so.

[shield132]

It is already causing lot of problems for retired people. How much will this problem intensify in future ?

Inflation is always a big challenge for retired people, especially in developed countries with the mentality that parents should leave alone and their sons and daughters should leave separately. In developed countries with this mentality, retired people, who didn't manage to build a business and collect a huge wealth, and those who depend on government pensions, will be seriously affected by inflation, it will be a huge challenge for them. That's why many people from such countries move to cheap countries.
The most terrible problem is that people in poor countries don't know about investment and they try to keep cash for their retirement. I know many people who collect dollars because our national currency frequently inflates against the dollar and they think that the dollar is a very strong asset, they completely ignore that the dollar inflates too.

[Yatsan]

It is a challenge for everyone so what more with retired people recieving a fixed amount in every month? And this is already at the present; we will be needing that number of yours to see it, just open our eyes. Price of goods are becoming more expensive and to most of the third world countries wherein adjustments in salary takes long to reflect, it is clearly a challenge to make a living out of this problem.

It is already causing lot of problems for retired people. How much will this problem intensify in future ?

Not only a problem for those who have retired but almost in all people who do not want to invest as soon as possible, thinking by work will be able to meet all needs including desires forever, even though they can lose jobs or if they continue to work, inflation will make all needs increase in price and slowly become it is difficult even just to meet the main needs because salary increases are not comparable to the increase in food and others.
This problem will increase in the future specifically for poor and developing countries, and also for people who do not want to invest, because only investments can help us to defeat inflation.

Actually, what I am seeing now is young professionals having two or more jobs in order to catch up or adjust with inflation. This is just how bad inflation is; imagjne getting home from work and will be needing to do more, just to maintain a certain lifestyl you freely do before. Investments could be a huge help only if it would really be profitable and as we all know, things doesn't happen instantly and easily given how risk is present to all of investments. Unfortunately, I cannot also see that things will still be aided even in the future. Third world countries might even stay in such position due to economy's circumstances.

[AnonBitCoiner]

Inflation will become more serious for retired people but I think that now a days people are not setting at a home without doing a job after retirement and they are regularly in search of finding new opportunities.

Inflation is not only big threat for retired people but those who have salaries are not satisfied with their salaries so may be in near future new technologies will arises which will help individuals to earn in a better way.

To find a solution of coming hard situation due to inflation if one make investment then it can help him to live a better life without doing a job

[Juse14]

It is already causing lot of problems for retired people. How much will this problem intensify in future ?

Inflation is always a big challenge for retired people, especially in developed countries with the mentality that parents should leave alone and their sons and daughters should leave separately. In developed countries with this mentality, retired people, who didn't manage to build a business and collect a huge wealth, and those who depend on government pensions, will be seriously affected by inflation, it will be a huge challenge for them. That's why many people from such countries move to cheap countries.
The most terrible problem is that people in poor countries don't know about investment and they try to keep cash for their retirement. I know many people who collect dollars because our national currency frequently inflates against the dollar and they think that the dollar is a very strong asset, they completely ignore that the dollar inflates too.

Retirees in developed nations, having the mindset of being self-reliant financially, will consider inflation as the most alarming issue. Inflation can greatly affect the lives of retirees who are wholly dependent on government pension funds or have failed in business and did not accumulate any significant wealth. This may prompt people from these developed countries to migrate to developing countries with a lower cost of living. Furthermore, one thing that many individuals in poor nations lack knowledge of is investment. Many individuals tend to keep money at hand without considering the effect that inflation would have on the value of their money. While others may opt to keep dollars as they are considered to be less volatile, it’s not known to all that even dollars might suffer from inflation. This is why education on financial management and investment is crucial for people to learn how to mitigate the adverse effects of inflation and better plan their retirement.

[macson]

It is already causing lot of problems for retired people. How much will this problem intensify in future ?

retirees, especially those who have worked in government, will never be in a safe zone, especially as inflation comes unstoppable, therefore, every retiree needs to gain knowledge about managing money and investing money. 

one of the people closest to me is a government employee but he has started investing in property slowly, he said that in his old age, he doesn't want his life to be difficult, he wants to be in a safe zone and far from debt so he works hard while he is still working in government. 

those who are safe in the future are those who prepare all their needs before retirement or old age.

[South Park]

It is already causing lot of problems for retired people. How much will this problem intensify in future ?

In my opinion many of those people that trusted the government and financial institutions to administer their money will come to regret their decision, as I really think it will become impossible to pay those people and they will stop receiving their pension or receive just a fraction of it on the future, so anyone that is young enough now, must prepare for that scenario and avoid to depend completely on that money, and do what they can to have a second retirement fund they manage on their own.

[AmoreJaz]

It is already causing lot of problems for retired people. How much will this problem intensify in future ?

In my opinion many of those people that trusted the government and financial institutions to administer their money will come to regret their decision, as I really think it will become impossible to pay those people and they will stop receiving their pension or receive just a fraction of it on the future, so anyone that is young enough now, must prepare for that scenario and avoid to depend completely on that money, and do what they can to have a second retirement fund they manage on their own.

You have a point on this. So aside from relying on a retirement fund, one can always invest in other tangible assets such as real-estate or precious metals. Or other assets they think they can sell in times of financial needs and not just waiting from your retirement funds or savings. It is always best to prepare and plan for contingencies so you won't be in a tight position when something unexpected happens in the future.

Also, one can consider alternative plans or living once you are in your retirement stage -
> live simply, don't buy luxury items for nothing
> be minimalist
> find hobbies that you believe can help you maintain healthy life
> spend on healthy foods, but you can indulge your appetite from time to time
> remove your subscriptions that you are not really using much
> tend your own garden
> surround yourself with quality friends that you can talk to

[harapan]

It is already causing lot of problems for retired people. How much will this problem intensify in future ?
[/quote
 
Actually,its not inflation that inflicts hardship on us.It's not necessarily inflation or only inflation.Every active individual should expect the bad signals and good signals always,the ability of somebody to  have the inflation under one's control is such a blessing.Particularly,I mean that understanding the concept inflation and applying the necessary practices and method so it can relief you from its pressure's.

During inflation,the cost of living increases without caution and that's really scary.Goods and services constantly gets expensive.But mind you,inflation injures retirees that have not been able to figure out that thier disappointment and hardship starts when they believe and depend completely on penssion payments from the government.

Inflation Favours the people that gain the knowledge as fast they could,utilized the opportunity and implemented the decision to ensure and activate financial safety for themselves.

[|MINER|]

If retirees can use their retirement money wisely, inflation will not be a problem for them. But if they exhaust the money or leave it in fiat, their future is uncertain.  remains  So the money has to be used properly only then the future of retirees will be assured. If the retirement money is invested in BTC or buy land or invest in a trusted business then it will be protected.

[Sebas.tian]

If retirees can use their retirement money wisely, inflation will not be a problem for them. But if they exhaust the money or leave it in fiat, their future is uncertain.  remains  So the money has to be used properly only then the future of retirees will be assured. If the retirement money is invested in BTC or buy land or invest in a trusted business then it will be protected.

There are many investment you can have in mind to invest when you retire by start saving some money that will help you to achieve your goal in the future, because those that invested in some potential assets with their retirement money will not experience what other people that failed to invest their retirement money are going through in this inflation. If you plan your future well when you are young, it will help you to live your life well and you will not lack of anything, because you have invested your money on a good asset that will make you not to see hardship or inflation around you. Bitcoin, lands and estate investment are high standard investments you can invest and you will be wealthy in the future, because they always increase those that embrace the investments huge amount of income.

[God bless u]

That's a very interesting topic to talk on.I think governments are trying to increase the pension of every individual with each budget that is being presented but it can't cope up with the inflation rate of course.

This will not affect them much in the near future because they start to compromise on certain things but for the long term they will lack fir basic necessities of life as the gap between the inflation rate and the increase in pension rate will increase. It'll be an interesting as well as alarming topic in the future.

[MiF]

It is already causing lot of problems for retired people. How much will this problem intensify in future ?

inflation is a big problem not only in retired person but also in person who are still working specially when they only have minimum wages, it is a big problem that needs to be addressed, 10 years from now the inflation will surely still a big problem for the ordinary people who live in ordinary life of living except to those who are already rich because they have a lot of funds for thier needs.

[0t3p0t]

It is already causing lot of problems for retired people. How much will this problem intensify in future ?

It's getting worst here in my country I think every single year it all changes it's value taht is why I prefer earning in cryptocurrency or dollar because of it's higher value compared to having my local currency which depreciates so fast. Inflation is inevitable so I think the better approach to this is to invest in assets that are future proof abd inflation proof for us to prepare for it or just stay away from it so our funds are safe in the future. Easy to say but hard to do to be honest for some reasons.

[Dewiana]

It is already causing lot of problems for retired people. How much will this problem intensify in future ?

This is the importance of understanding that saving money or saving in fiat is not at all recommended if it is for the long term such as for retirement funds. Because fiat will always experience a decrease in value due to the impact of inflation. And slowly the value will decrease and imagine that in a few decades the money that looked like a lot will no longer be worth as much as it was when you first started saving. It would be better if we prepare ourselves by investing in things that are profitable and increase in value in the long term, such as real estate. Or land that can bring in passive income after we plant it with trees that can continue to bear fruit every season without requiring expensive maintenance. And we can take advantage of that in retirement. Land prices will continue to increase and so will the prices of fruit and trees. So this is the good thing about real estate investment for the long term.

But buying real estate requires a lot of capital. So before that maybe we can do business to increase our wealth. But nothing is easy in this world. Well everything requires hard work and long learning. And inflation is always difficult to avoid. That's why we have to be ready to face it.

It's true, one of the things that causes inflation is giving pensioners' salaries to employees, and this has been hereditary and difficult to eliminate. every month there are people who retire and the pension salary is still given by the state as a thank you after dedicating themselves for many years in government, so another thing that has now started to be done is that there is no pension salary, what exists is a form of severance pay, namely cash after retirement. , this is different from pension money paid every month while still alive, if severance pay is paid once. and this money can be used as business capital in old age. This requires regular socialization by the government so that employees before retirement can prepare themselves thoroughly before the retirement period arrives

[Fortify]

It is already causing lot of problems for retired people. How much will this problem intensify in future ?

It seems like this is heavily country dependent and depends on what infrastructure a specific country has set up around retirement. In general, I cannot see most people who have pensions built up and invested reasonably in the stock market during their life time - in the format of pensions, will have any problem keeping reasonable pace with inflation during that time. Inflation runs through every economy and it is intertwined with business. If you are reliant on state benefits for retirement, hopefully your country is setup to keep pace and many are doing just that. Once your mortgage is paid off, the amount of bills a regular person will have are quite small in comparison, so if money is managed well it can stretch far.

[Cookdata]

It is already causing lot of problems for retired people. How much will this problem intensify in future ?

Which country are you using as a reference to describe the age you described above because inflation is different in each country. For instance, in the United State the inflation is averagely 3.15% for the month of March and in Nigeria, the inflation for the month of March is 33.20%. Retired people in Nigeria will be more frustrated with inflation than people in the US because that's like 10 times inflation of what US is experiencing and that's bad for the economy, not just retired people that will feel the impact, everyone will feel it.

Either retired or not, high inflation will only frustrate the hell out of everyone, it discourage investors and forced existing companies to closed down because doing business in such places is very bad. You might be making profits but inflation is destroying the value of their currency. By the time you do the conversion back to another currency e.g dollar, you will regret doing business in such countries.

[Lanatsa]

It is already causing lot of problems for retired people. How much will this problem intensify in future ?

If you are someone who are still that having a work or dayjob and seen up someone whom you do know having that kind of problem or struggles due to inflation and other correlated things then
this is something that will really be giving out that kind of idea on what are the things that you would really be needing up to do for you to be able to avoid out on the same condition on which
the earlier the better when it comes on having that investment or trying out to build up some business as early as you could. Trying out to establish yourself on becoming a business owner
and having that multiple income source on which you could really be able to have that kind of savings or funds which will really be able to make you sustain on the upcoming years to come.

There are really just that things which could be that able to counter if you are really just that wise and really that mindful about on the things that you would gonna supposed to do.

[TopT3ns]

It is already causing lot of problems for retired people. How much will this problem intensify in future ?

inflation is a big problem not only in retired person but also in person who are still working specially when they only have minimum wages, it is a big problem that needs to be addressed, 10 years from now the inflation will surely still a big problem for the ordinary people who live in ordinary life of living except to those who are already rich because they have a lot of funds for thier needs.

Inflation may not have an important impact on those who are already very rich, but as you can imagine, this inflation will be very dangerous for those who currently don't have a job. All goods will definitely become very expensive because the influence of inflation can create chaos in several worlds which is currently happening in the US. So by continuing to save assets in the form of Bitcoin or Gold bullion, we will still be able to avoid the effects of existing inflation.

[Russlenat]

It is already causing lot of problems for retired people. How much will this problem intensify in future ?

It’s anyone problem if you don’t save enough during your active years but if you manage to save money then inflation will not be your problem since you have your pension and at the same time savings money through your job salary.

You should consider that retired person usually spend less since they are already at the age which they are not active anymore on social gathering or any form of activities that requires heavy spending. Most of the time they are just buying daily necessities and spend time at home or vacation house. Inflation will only be a problem if you didn’t manage to break poverty during your active years.

Not only saving but certainly investing as well during their active years. Inflation is even worst at these days so it should serve as a reminder that if you don’t increase your source of income like working on some side hustles but only focus to your main job, you will definitely suffer from inflation in the future. Retirement is actually the moment to enjoy and reap your hardships while you are young, but if you care less about it, and instead just focus on spending all your income without thinking to invest, I believe you will end up regretting in yiiur retirement age.