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

[AmoreJaz]

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.

Investing and planning are both needed in order to prepare for the future. Some may not think about it while they are still young, but I would give this piece of advice to my kids. They may not understand it yet, but later on, they will thank you for that.

Also, even if you are already heading in your retirement age, you still have the chance to improve your financial conditions. Like start not buying unnecessary items. Try to invest into something valuable like jewelry. At least, you can easily pawn or sell it when you badly need the money. It may not be big investment, but you need to think of something that can be valuable in the future, and you can easily dispose in case you need some cash.

[angrybirdy]

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.

Investing and planning are both needed in order to prepare for the future. Some may not think about it while they are still young, but I would give this piece of advice to my kids. They may not understand it yet, but later on, they will thank you for that

Better to have it as early as now because life is unpredictable nowadays, it's better if we have our own investment that we can pass in our child or family members as part of having a generational wealth, Let's cut the toxic mentality wherein a person will leave their family members a huge debt rather than wealth, investment and trust funds? I mean, I understand that we are having different life but can we just think that as one of our motivation to have a comfortable life in the future?

[Kakmakr]

Well, if the inflation is say 10% per year ...  and you have a Bank deposit of say $1 000 000 .... you will lose 10% of it's buying power every year. The real inflation is much higher than the inflation that are provided by the government.. because governments manipulate the inflation basket from which the calculation is done.

They will remove items that went up significantly or they will not add it to the basket of items that they use, so that the inflation looks much better than what it actually is.

I think, people with money in long-term fixed deposits are in big trouble... if they use all the interest that they receive from those deposits. 

[Fara Chan]

Better to have it as early as now because life is unpredictable nowadays, it's better if we have our own investment that we can pass in our child or family members as part of having a generational wealth, Let's cut the toxic mentality wherein a person will leave their family members a huge debt rather than wealth, investment and trust funds? I mean, I understand that we are having different life but can we just think that as one of our motivation to have a comfortable life in the future?

Of course, it is possible to motivate ourselves to have a comfortable life in the future as long as we are willing to try to make it happen with our own efforts. Investments that can be inherited are good investments and of course our own family must be able to look after them. Because there are times when investment assets that we have saved and inherited will be sold by the next generation very easily if from now on we don't teach our own family how to look after them.

This means that we all need to look after what we have invested and what we have saved well from now onwards so that we can pass it on to our next generation. So our family and children also need to know what good investment assets are and why we try to save them as early as possible so that they can know that investment assets are very valuable assets and are also highly desired by many people, as in the example of Bitcoin in At the moment. That's what we also need to instill in them so that those who inherit the investment can also look after it well enough when we are gone.

[ultrloa]

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.

Investing and planning are both needed in order to prepare for the future. Some may not think about it while they are still young, but I would give this piece of advice to my kids. They may not understand it yet, but later on, they will thank you for that

What common mistake made by young people is they can always find time to gain money for their selves since they have plenty of time left in this world that's why they set aside those important things and take first what they can make them enjoy their life. YOLO mindset is the one actually killing their dreams so if they don't realize that certain bad things would ever happen if they didn't prepare for their future then for sure they would regret once they realize that they are in late stage on their life. There's no regret will come first as saying says so to avoid getting broke and sick when we get old much better if we are ready then prepared something so that when we became old and retired already we can still live a comfortable life and we can't bother anyone with this.

[QuinielaPosible]

What common mistake made by young people is they can always find time to gain money for their selves since they have plenty of time left in this world that's why they set aside those important things and take first what they can make them enjoy their life. YOLO mindset is the one actually killing their dreams so if they don't realize that certain bad things would ever happen if they didn't prepare for their future then for sure they would regret once they realize that they are in late stage on their life. There's no regret will come first as saying says so to avoid getting broke and sick when we get old much better if we are ready then prepared something so that when we became old and retired already we can still live a comfortable life and we can't bother anyone with this.

Absolutely, the whole YOLO attitude has a lot of young people living for today without much thought for tomorrow. It's easy to think you're invincible when you're young and that retirement is a lifetime away

[slapper]

Inflation will hit seniors hard in 10 to 20 years. There are no "ifs" or "buts." This isn't a scare tactic; inflation is real, and it makes your money worth less over time. Picture it as a slow leak in your savings account for old age. Don't think it will fix itself by magic

History tells us that the prices of living, like housing and medical care, go through the roof over time. People who are retired right now are in pain. But those who are leaving soon? It's time for a whole new level of cash stress. It's not worth as much as it used to be. Savings accounts not enough to beat inflation? They are losing value instead of getting it. What's going on now is getting worse as time goes on

So, what the hell do you do? Save a lot? Invest all of your money? There is no easy answer, but not doing anything will cost you money. This is a serious problem that needs a serious answer. It won't go away if you ignore it; in fact, it will get worse

[justdimin]

What common mistake made by young people is they can always find time to gain money for their selves since they have plenty of time left in this world that's why they set aside those important things and take first what they can make them enjoy their life. YOLO mindset is the one actually killing their dreams so if they don't realize that certain bad things would ever happen if they didn't prepare for their future then for sure they would regret once they realize that they are in late stage on their life. There's no regret will come first as saying says so to avoid getting broke and sick when we get old much better if we are ready then prepared something so that when we became old and retired already we can still live a comfortable life and we can't bother anyone with this.

I feel like that is reasonable to want to live life first though. If you keep on postponing life, then you could always have something bad happen in later life and then suddenly you would not only spent all your life on saving, but then lost that saving because of something bad as well. What would you gain from that? Not only you would be poor but you also could say that you never lived neither.

I am one of those people, I stayed at home all my life and didn't do anything, I didn't even live a proper life, I lived a terrible life when you look at my memories, but at the same time I have no money at all, literally zero, I am fully in debt. Don't be like me, I wish I never saved and just lived a very adventurous life when I was younger.

[South Park]

Well, if the inflation is say 10% per year ...  and you have a Bank deposit of say $1 000 000 .... you will lose 10% of it's buying power every year. The real inflation is much higher than the inflation that are provided by the government.. because governments manipulate the inflation basket from which the calculation is done.

They will remove items that went up significantly or they will not add it to the basket of items that they use, so that the inflation looks much better than what it actually is.

I think, people with money in long-term fixed deposits are in big trouble... if they use all the interest that they receive from those deposits. 

At least those people have money, which it can be later repurposed and used in a  more effective way, but those that have no money saved on their own are the ones that will suffer greatly during the next decades, since they are depending completely on the retirement fund they are hoping to receive, but if the system collapses during their most vulnerable moment, which is when they have retired already and cannot work anymore, they will have no way to pay for their expenses, putting them in a terrible position for the rest of their lives.

[legendbtc]

Well, if the inflation is say 10% per year ...  and you have a Bank deposit of say $1 000 000 .... you will lose 10% of it's buying power every year. The real inflation is much higher than the inflation that are provided by the government.. because governments manipulate the inflation basket from which the calculation is done.

They will remove items that went up significantly or they will not add it to the basket of items that they use, so that the inflation looks much better than what it actually is.

I think, people with money in long-term fixed deposits are in big trouble... if they use all the interest that they receive from those deposits. 

There is no need to wait for the government to announce the inflation index and we believe what they say. We can also feel the level of inflation through our daily spending, because we are the people most affected by inflation. But saying that does not mean that savings deposits will become completely useless. In the long term, saving will be bad for us, but in the short term they are extremely important. What will you do in an emergency if you have no savings? Don't be like many people here who say use all your money to invest in bitcoin to deal with inflation and don't need any savings. Because there is no guarantee that investing will always bring us profits.

[Poker Player]

It depends on how Venezuelan the economy of the country where you live becomes. Someone with financial intelligence will have prepared himself for a lifetime by saving and investing so that inflation does not affect him, and even if the country where he lives becomes hyperinflationary, to move to another country if necessary. But if we talk about people in general, not everybody is going to be prepared for it by far, many people live from paycheck to paycheck and if the policy of the country where they live ends up generating very high rates of inflation they are going to have a harder time.

There is no need to wait for the government to announce the inflation index and we believe what they say.

This aside. The CPI is manipulated downward.