This week I’m talking about inflation - are we in for higher inflation in the coming years? And if so, what does that mean for you and your retirement? 

Yesterday, I talked about the national debt and why that’s a key indicator for higher future inflation. 

Because the US government owns printing presses, they can print money to pay down debt. Easy solution, right? The problem is that when those printing presses print too much money, it creates a situation where too much money is chasing too few goods and services. This leads to price increases, and dollars continue to lose their value as more money is printed, and it can spiral out of control. 

After World War I in Germany, the printing presses were turned on max power, and as a result, the Deutsche Mark became virtually worthless. You needed so many D-Marks just to purchase basic goods that people turned to bartering to survive and instead used money and bank notes for kindling to light stoves. 

This is an extreme example of hyper-inflation, but it illustrates what can happen to the dollar, the cost of goods and services, your investments, and your retirement if inflation gets out of control. 

As our national debt continues to explode with no end in sight, the US government has fewer available options to deal with the debt, making higher inflation an increasingly real risk.

That’s it for today. Tomorrow and for the rest of the week, I’m going to talk about how higher inflation could impact you, and what you can do to protect yourself. 

Thanks for listening. My name is Ashley Micciche and this is the One Minute Retirement Tip. 

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