24. Disregarding Inflation
A real danger to one’s retirement comes in the form of inflation, experts say. Todd Tresidder, CEO of Financial Mentor and financial coach, has the following to say on the matter:
“It’s a hidden tax on savings. You have no control over it, it can’t be predicted and it has an insidiously compound, erosive effect,” he said. “It gnaws away at an otherwise healthy retirement like cancer to a healthy body.”
As such, it is a really good idea to keep up with inflation so as to not take a monetary hit later in life.
