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In the midst of the pandemic, it was upwards of 8%, for example.
And while inflation has cooled significantly since then, some of those higher prices are here to stay.
However, retirees can be prepared for inflation with some forward thinking and some simple financial strategies.
You want to have a mix of tax-advantaged accounts so that you also minimize your tax burden.
Whether youre heading into retirement, or already there, will influence how you adjust your portfolio as well.
This often requires the support of afinancial advisorif you arent well versed in these kinds of accounts yourself.
Those small monthly subscriptions can add up to big numbers if youre not careful.
Consult a Financial Planner
Big decisions likeretirement planningcan be difficult to do on your own.
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