Inflation is at the highest level we’ve seen in decades. The consumer price index data for May, released Friday, shows that prices have risen by 8.6% over the past 12 months before a seasonal adjustment, the largest since December 1981, and 1% from April to May.
This has affected virtually all aspects of our economy and the finances of many Americans. And high earners are not immune, according to a recent Spectrem Group survey of investors with $100,000 in net worth or more.
A group of clients who could be especially susceptible to the impact of inflation are those in or near retirement.
In the gallery above are some strategies to help this group of clients combat the impact of inflation now and over time.
Roger Wohlner is a financial writer with over 20 years of industry experience as a financial advisor.