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{"id":1016,"date":"2022-05-12T09:34:00","date_gmt":"2022-05-12T09:34:00","guid":{"rendered":"https:\/\/retirementsolutionsnj.com\/?p=1016"},"modified":"2022-05-24T21:48:35","modified_gmt":"2022-05-24T21:48:35","slug":"inflation-creeping-into-personal-finances","status":"publish","type":"post","link":"https:\/\/retirementsolutionsnj.com\/inflation-creeping-into-personal-finances\/","title":{"rendered":"Inflation Creeping into Personal Finances"},"content":{"rendered":"\n

If you have a balance on a credit card or an adjustable rate mortgage, you might be noticing changes in your payments. Higher interest rates are starting to ripple through the personal finance landscape, and it doesn\u2019t look like that trend will change anytime soon.<\/p>\n\n\n\n\n\n\n\n

The Federal Reserve has indicated it plans to keep raising short-term interest rates to help manage inflation, which is at its highest level in 40 years. You\u2019re likely seeing the effects of inflation when buying gas or groceries, and you\u2019ll notice it if you are shopping for a new or used car.<\/p>\n\n\n\n

The Federal Reserve\u2019s job is to control inflation. By raising interest rates, the Fed hopes to slow spending, bringing down consumer prices.<\/p>\n\n\n\n

Time will tell whether higher interest rates will prompt us to consider changes to your portfolio. Remember, your overall strategy considers that there will be transition periods in the economy.<\/p>\n\n\n\n

In the meantime, you may want to look at I Bonds, which are issued by the U.S. government and earn a fixed interest rate plus a variable interest inflation rate that\u2019s adjusted twice a year. I Bonds have certain purchase limits, restrictions, and tax treatments, so they generally play a limited role in your financial picture.<\/p>\n\n\n\n

If you have any questions about inflation or interest rates, please reach out. We\u2019re always here to help put things into perspective.<\/p>\n\n\n\n

<\/p>\n\n\n\n

\"Damian<\/figure>\n\n\n\n

Damian Sylvia
Retirement Income Solutions<\/strong>
Office: 732-508-6044<\/strong>
Direct: 732-284-0902<\/strong>
Email: Damian@MyFinancialSolution.org<\/a><\/strong>
Website: 
RetirementSolutionsNJ.com<\/a><\/strong><\/h4>\n","protected":false},"excerpt":{"rendered":"

If you have a balance on a credit card or an adjustable rate mortgage, you might be noticing changes in your payments. 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