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The Your Life, Your Money Podcast helps you thrive in life, wealth and retirement. The show is designed to navigate the complexities around money, building and securing wealth, and achieving financial independence. Scott Sierens, financial advisor at Sierens Financial Group, will provide thoughts, strategies, and ideas on each episode to help you make smart and sound financial decisions. The goal is to take complex financial subjects and make them simple and easy to understand so you can feel confident to take action, enjoy life, and eliminate financial stress and anxiety.

Scott, along with guests from across various industries, will cover topics such as tax savings strategies, investment and wealth management, IRAs, 401(k)s, retirement planning, income strategies, pensions, estate planning, social security, healthcare, and much more.

Retirement isn't an age or number. It's finding the balance between living life today and feeling financially confident about YOUR tomorrow.

Ask Scott your questions by calling 847-235-6989 or check out our podcast website at https://lifemoneyshow.com for more resources.

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  2. Inflation, Recession & Retirement Impacts

Inflation, Recession & Retirement Impacts

Aug 24, 2023

Recent headlines are buzzing with talk of inflation, recession, and their potential impact on your retirement plans. Should you be concerned? In this episode, Scott takes you through a comprehensive breakdown of these headlines and what they truly mean for your financial future. 

By understanding how inflation, recession, and Social Security interplay, you can better navigate the complexities of retirement planning and enjoy financial confidence in your golden years. Join us to learn why Scott encourages listeners to focus on crafting a comprehensive retirement income strategy rather than getting caught up in sensational headlines.

 

Here’s what we’ll tackle in today’s show:

  • Understanding the fundamentals of inflation and its relationship with interest rates and the Federal Reserve.
  • Gain insight into economic indicators that impact recession predictions and the overall health of the economy.
  • Learn how Social Security cost-of-living adjustments are calculated and discover strategies to optimize your benefits.
  • The importance of a well-rounded retirement strategy that considers market fluctuations, inflation, and your unique financial goals.

 

Links From Today's Show:

U.S. Inflation Rate

https://ycharts.com/indicators/us_inflation_rate#:~:text=US%20Inflation%20Rate%20is%20at,in%20price%20over%20a%20year

Effective Federal Funds Rate

https://ycharts.com/indicators/effective_federal_funds_rate

U.S. Unemployment Rate

https://ycharts.com/indicators/us_unemployment_rate

USA Today Article about Recession  https://www.usatoday.com/story/money/2023/08/10/recession-or-soft-landing-2023/70555621007/

USA Today Article about SS  https://www.usatoday.com/story/money/personalfinance/2023/08/10/2024-social-security-cola-estimate-unchanged/70565924007/