If you've been paying attention to the news this year, especially money news, you know there's been a lot of talk about inflation. There's been an avalanche of articles with titles like U.S consumer prices surge in March, CPI finds, pushing inflation to 2 1/2-year high and Consumer prices rise more than expected, pushed by 9.1% jump in gasoline.
Inflation, otherwise known as rising prices, can wreak havoc on any budget, but hits retirees especially hard. Not only can inflation stretch a spending plan, but one of its side effects is rising interest rates: good for savers, but often bad for stocks.
So, what's a saver, especially one close to retirement, supposed to do? Is inflation here to stay or is this just a temporary blip?
That's the topic of this week's "Money!" podcast. We're going to explore some ideas, and see what, if anything, we need to do to protect ourselves and our savings.
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