Do you remember when you were young and every simple thing was amazing?
Going out to dinner at a fancy restaurant (even if it was just Sizzler) was an adventure. You got to eat new, exotic food that someone would bring out and set right in front of you, and the whole experience was exciting. When you got five bucks in a birthday card from Grandma, you were rich. You’d march down to the convenience store, pick up enough candy to last for weeks, and be as happy as can be.
As you got older however, the value of money changed drastically. The things you needed gradually got more expensive, and inflation made things worse. Five dollars isn’t a fortune any more. In fact, you can’t even buy much with a single dollar.
As the value of a dollar keeps shrinking, is retirement a moving target? Chances are your target number isn’t big enough anymore, and you may need to recalculate. One blogger noticed his target number growing to keep up with the times, and he had to change his plan. Check out How Much Money Is A Lot of Money? by Money Reasons to see how he fixed his retirement plan.
Here are some more articles with value that will never shrink:
Yield Chasing As an Investment Strategy?
Many investment strategies include choosing stocks that yield a dividend, but is it wise to base your entire investment strategy around high-yield dividend stocks? [Million Dollar Journey]
Does Asset Allocation Matter? (Will I Run Out of Money in Retirement?)
Everyone hopes they are saving enough for retirement, but you’re probably not. It’s a scary thought that when you are old and can’t work anymore, you may run out of money. Can your savings choices affect your ability to make your money last? [Oblivious Investor]
Calling the Shots: How to Be the CEO of Your Own Life
The CEO gets all of the blame and all of the praise for a company’s failures and successes. In life, while it’s easy to blame outside forces, you’re the CEO of your own life, and you need to take control to achieve success. [Get Rich Slowly]
10 Signs the Economy Is on the Upswing
Finally, amid the gloom and doom that we hear everyday, there may be signs that things are turning around. Do you think these signals are enough, or should we still be worried? [Kiplinger]
6 Steps to Financial Rehab for America Saves Week
Breaking an addiction isn’t easy, but you can find help. America’s state of consumption is causing many of the problems we’re facing, and it’s time to kick the habit. [Money Rates]
Water or Fire Damage to Your Home? How to Make Sure Your Insurance Company Doesn’t Burn You
Insurance is tricky. If you don’t do everything exactly the way your insurance company wants, you’ll find yourself shelling out the cash for things you thought you were covered for. Sometimes you even need to abandon common sense to avoid getting in trouble. [Wealth Pilgrim]
How to File an Amended Tax Return
To err is human, and everyone makes mistakes. Did you know you can correct tax errors in most cases? Even with the stringent IRS, you can fix mistakes before they become big problems. [Bargaineering]
How to Talk to Your Spouse about Money Management and Household Budget Planning
Some subjects are just better left alone. For a while I thought talking to my wife about finances was one of those topics. Though it’s sometimes tough to see eye to eye, every couple needs to find a way to have regular conversations about money. [Good Hands Community]
Consumers Feel Financial Jitters
Is there really such a thing as financial security? Will the economy continue to flip-flop without ever fully recovering? Check out this survey to learn one of the main issues you should be concerned about – and what to do. [Bank Rate]
How to Plan for Long-term Income Loss
Income loss is one of the scariest things I can imagine. What would happen if tomorrow, your income just dried up? With a plan, even a dire situation won’t be as scary as it once seemed. [Bible Money Matters]
(photo credit: Shutterstock)