Impact Of Inflation On The Retirement Plan Industry
Congruent Solutions
A specialist technology solutions and plan administration services provider to the Retirement Plan (401k, 403b) industry
Inflation concerns retirement planning, and 401(k) plan administrators must consider its impact on client portfolios.
The purchasing power of retirement savings can be significantly impacted by it, which is a common concern for retirement planning. This blog will discuss inflation's impact on the retirement industry.
The Impact of Inflation on Retirement Savings -
Inflation significantly affects the retirement savings of individuals. As the cost of living increases, the purchasing power of retirement savings decreases, and retirees may find it challenging to maintain their standard of living.
How plan administrators can help people with the impact in the retirement industry?
Finance Analyst at Plootus
12 个月Agreed! Once we have our 401k accounts set up, a lot of us have a hard time managing it actively. It is key to not only put aside $ in your respective 401k accounts, but it is also important that we review the allocation of our savings across the various funds offered in our employer's 401k plan, and update the distribution per our individual life-stage and goals. To help keep up with your funds and make better decisions, I would recommend using a free app, like Plootus (www.plootus.com).