CNBC: “The great inflation squeeze: Here’s how retirees can navigate higher prices”
CNBC, March 22, 2022 — Marguerita Cheng, CFP® Pro is featured in today’s article by Michelle Fox, who writes: “Americans are being squeezed by higher inflation. That may have retirees on a fixed income concerned about getting by or running out of savings during their golden years.”
In fact, inflation rose 7.9% in February from 12 months ago, the highest in more than 40 years, according to the Labor Department. And, food prices overall are up 1% from January and food at home rose 1.4%. The cost of rent and apparel is also higher.
“What makes this challenging is we are dealing with inflation, we are dealing with low-interest rates and we are dealing with stock market volatility,” said CFP Marguerita Cheng, CEO of Blue Ocean Global Wealth in Gaithersburg, Maryland. “These three challenges are all colliding.”
With that in mind, here’s how senior citizens can cope with inflation. Click here to read the entire article.