Much has been said recently about inflation and how it has affected many people’s pockets. One aspect of it that people approaching retirement may not have thought about in their retirement planning is how it can affect your medical care once you have retired. Inflation continues to impact the cost of medicines and professional medical care.
Inflation has also impacted the stock and bond markets, which affects the interest rates earned on retirement accounts. Their projected growth depends on higher interest rates than what is occurring now. The Federal Reserve Bank of St. Louis reveals that the bond interest rates are considerably higher than they have been since 2019 but still lower than the decades-long average.
