Do you believe everything you read or hear? The government whether or not you realize it is lying to you. What do you read and hear on the TV. Inflation is 3-1/2%. Well think again. When inflation figures are published, they are not true at all. For one thing they leave out of the equation food and energy, which are a significant part of out family budget.
If you do the calculations inflation is 7-1/2% or higher. So that means that if you have money tied up in a CD or savings account at .05% your buying power has decreased by 7%. You are in the whole. Wake up and realize that you are going to go broke in the future.
I have a family member who is good at controlling her spending and wants to save as much as possible, yet does not want to invest where she can make more than a half of a percent in a CD. She thinks by holding onto her savings she is getting ahead. She is not. Inflation at 7-1/2 percent is eating her alive. Her buying power is going down hill.
Recently she was shopping for a exercise bike she looked at a year ago and found it on Amazon for 11% more than what it was selling for this time last year. Why? INFLATION.
Don’t let Inflation eat you up. Don’t complain about it, get out there and do something about it. In action is no excuse.
www.boydmcclean.com