This FreshPlan Inflation and Financial Planning infographic illustrates the importance of planning for uncertainty. Updated with the Canadian rate of 6.3%, this infographic compares the inflation rate to the high rate of 10.77% in 1982.
There has been a lot of discussion about inflation as the Canadian rate has climbed in recent months. Whether retired or just starting out, your clients may be concerned about its impact on their financial plan.
When inflation goes up it generally costs us more to purchase goods and services like gas, groceries and taxes. It also has an affect on financial planning and returns. This inflation and financial planning infographic highlights:
Inflation: Then and now
Managing debt, cash flow
Financial Planning considerations to plan for uncertainty
FreshPlan also includes companion calculators for Inflation and Financial Planning including:
Inflation and Your Retirement Income
Real Rates of Returns
The Risk of Not Taking a Risk
“A financial plan is a powerful tool to help understand how inflation impacts your ability to achieve your goals..”
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