Rick Bloom Talks Money
Today, Rick Bloom is joined by Bloom Advisors colleague Scott Whyte to discuss all things inflation. It's been a hot topic in the news lately, and we cover what you need to know.
- We begin with a definition of inflation - what exactly is it?
- How is inflation measured and what exactly is the CPI, or Consumer Price Index?
- What about the core inflation rate?
- Why is it important to see how inflation factors into your individual situation?
- Some suggest inflation is here to stay. Others say it's transitory. Either way, we are not facing the historic inflation you may remember from the 1970's.
- Inflation isn't all bad. What can you do in your portfolio in times of inflation? (Hint: Diversify!)
- Why hoarding cash or gold may not be the best idea.
- What is "shrink-flation?"
- What is inflation's impact on retirees?
- What are some things you can do right now to protect yourself?
Finally, Rick answers a listener email regarding his changing stance on annuities. Rick explains why he recommended them in the 90's, but not anymore.
If you have a financial question for Rick, you can email him: firstname.lastname@example.org.
Note: Bloom Asset Management is now Bloom Advisors. Find Rick and the team at https://www.bloomadvisors.com/ or call (248) 932-5200.