Inflation has pulverized Americans’ finances over the last four years, and a new study shows that’s especially true for the nation’s seniors, whose retirement accounts have been walloped.
The losses have been so severe that would-be retirees need to work an extra six years on average before they can hang up their work boots—and they can blame Washington for this financial disaster.
Much of the damage to senior’s retirement accounts has been hidden by the stock market rally of the last several years. The S&P 500 increased 45% from the first quarter of 2021 through the third quarter of this year, but almost half of that was just inflation driving stock prices higher, not an increase in real value.
The inflation-adjusted increase over that same period is 22%. Still, that’s not a bad rate of return. The problem is that people don’t put all their retirement savings into the stock market, especially as they get closer to retirement. They rely more on fixed income assets, like bonds, which have been decimated recently.
The rapid rise in both inflation and interest rates has been a one-two punch to bond returns, which have had their worst four-year run in at least a century. Ironically, seniors who thought they were being responsible by shifting their retirement savings into bonds as they got older ended up taking the worst losses. […]
— Read More: www.dailysignal.com
It’s becoming increasingly clear that fiat currencies across the globe, including the U.S. Dollar, are under attack. Paper money is losing its value, translating into insane inflation and less value in our life’s savings.
Genesis Gold Group believes physical precious metals are an amazing option for those seeking to move their wealth or retirement to higher ground. Whether Central Bank Digital Currencies replace current fiat currencies or not, precious metals are poised to retain or even increase in value. This is why central banks and mega-asset managers like BlackRock are moving much of their holdings to precious metals.
As a Christian company, Genesis Gold Group has maintained a perfect 5 out of 5 rating with the Better Business Bureau. Their faith-driven values allow them to help Americans protect their life’s savings without the gimmicks used by most precious metals companies. Reach out to them today to see how they can streamline the rollover or transfer of your current and previous retirement accounts.
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