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Author: Bloom Investment Counsel, Inc.

How Does Inflation Impact Your Personal Finances?

Inflation measures the rate at which the prices of goods and services increase. When inflation occurs, it can have a negative impact on the economy as the prices for basic necessities such as food, shelter and medical care are increasing, and in most cases, these increases are happening at a much faster and higher rate than the increase in wages.

So, what does this mean for your personal finances? This article will look into how inflation impacts your personal finances and what you can do to protect against it.

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Stock Market Fluctuations and Your Retirement Decisions

What’s going on with stock markets and how does this affect your retirement decisions? If you are about to retire or have recently retired, then stock market declines and high inflation are probably causing you to lose sleep.

Entering retirement represents a major shift from actively earning income to depending on your investments to fund your desired lifestyle. Down markets and high inflation may cause you to alter your retirement plans. However, most experts say that you should not let these events deter your retirement and long-term goals.

There are some steps you can take to help lessen the effects on your investments and allow you to retire more confidently.

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5 Ways to Secure Your Family Financially

Your family’s financial security is of the utmost importance but taking the time to establish a long-term family financial plan tends to fall to the bottom of the to-do list for most families. This is especially true when everything seems to be going well in the present moment.

But just because you are comfortably providing for your family’s needs and wellbeing today, it does not mean that you have set a stable financial future for your family’s security.

Following, we specify five ways to help stabilize your family’s financial security.

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How a Positive Money Mindset Can Help You Achieve Your Financial Goals

Your money mindset is the prevailing attitude that you have towards your finances. It governs how you make key financial decisions every day and has a big impact on your ability to achieve your financial goals. Ensuring you have a positive money mindset will allow you to have a better chance of reaching your financial goals.

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